Does a Real Estate Agent have to report what a home sold for on MLS?
348A home in Massachusetts, which had not been listed on the MLS, was sold to a buyer who was represented by an agent. Interestingly, this very agent proceeded to list the same home on the MLS for sale, just one day after the new deed had been officially recorded. What's worth noting is that the current listing does not display any historical sales information. Now, a question arises: Is the listing agent obligated to disclose the sale, considering they are the same agent who handled both sides of the transaction?
2 answer(s)
About 2 months ago
Laura! Great question! Unfortunately, it would be hard for almost any of us to know the answer for sure, because this forum is for agents here in the Houston, Texas area, and rules and regulations in Massachusetts may be much different from here. It would be worth it to reach out to an agent in your local area to find out further information!
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DislikeAbout 7 months ago
Generally speaking, disclosure requirements can vary by state and local jurisdiction. In many areas, agents are obligated to disclose material facts that would affect the value or desirability of a property. If the agent is listing the property just one day after it was sold, one could argue that this is a material fact that should be disclosed.However, it's important to consult the real estate commission rules and regulations in Massachusetts to determine the specific obligations for agents in this scenario. Additionally, if you believe that there might be an ethical or legal issue, you may want to consult with a real estate attorney for advice tailored to the specific situation.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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