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Which entity enforces the new buyer representation agreement requirements?

Correct Answer

B) Local MLS organizations and real estate associations

The buyer representation agreement requirements are enforced by local MLS organizations and real estate associations as part of their membership rules. Failure to comply can result in MLS access violations and disciplinary action.

Answer Options
A
The federal government
B
Local MLS organizations and real estate associations
C
The buyer's mortgage lender
D
The state police
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Related Topics & Key Terms

Related Topics:

buyer-agency-relationshipsmls-rules-and-regulationsreal-estate-disciplinary-proceduresagency-disclosure-requirements

Key Terms:

buyer representation agreementNAR settlementMLS enforcementSitzer/Burnettbuyer agency
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