Subject: NAEBA Questions Wisconsin Realtors Association Date: Thu, 28 Feb 2002 19:56:41 -0600 From: Jay Reifert Organization: Excel-Exclusive Buyer Agency ---------------------------------------------------------------------- List Removal Instructions: Reply to this Message With "Remove" in the Subject Line or Body of the Message. Governmental Officials and Their Respective Staffs Will Not Be Removed From This List. ---------------------------------------------------------------------- The following news release has been sent to many daily newspapers and other media outlets across Wisconsin and represents the official position of the National Association of Exclusive Buyer Agents regarding the proposed Designated Agency legislative activity in Wisconsin. Should you wish to distribute this to other sources, please do so leaving the content intact. NEWS from the NATIONAL ASSOCIATION OF EXCLUSIVE BUYER AGENTS 320 W. Sabal Palm Place, Longwood, FL 32779 (407)767-7700 FAX:(407)834-4747 www.naeba.org "Above All is the Consumer" FOR IMMEDIATE RELEASE NAEBA QUESTIONS WISCONSIN REALTORS ASSOCIATION MOTIVES; CITES EFFORT TO PASS ANTI-CONSUMER LEGISLATION LONGWOOD, FL - Making it's voice known in a state-wide real estate issue that affects the citizens of Wisconsin, the National Association of Exclusive Buyer Agents (NAEBA) is asking the Wisconsin Realtors Association why it is trying to overlay the current state agency law with a faulty, anti-consumer agency scheme like Designated Agency, when the right approach to correcting the law should involve a return to the common law of agency. Peggy Lance Little, president of the national organization which represents only the buyers of real estate, points out that, "if Wisconsin licensees are effectively facilitators by statute, then adding 'Designated Agency' to the law, without eliminating the current lack of representation provisions, is not only confusing...it is dishonest." Little observed that "even if Wisconsin had normal agency laws and firms/licensees followed the common law of agency...thus putting the interests of the client ahead of all others, Designated Agency would still be an anti-consumer idea, as it is simply Dual Agency, under which the same firm or agent can represent both sides of a real estate transaction at the same time, under a different name. They are trying here to legalize an idea similar to allowing a lawyer/law firm to represent both sides of a case at the same time. Under such circumstances, it is extremely unlikely that both parties to the transaction will get a fair deal." "What really appears to be going on here," Little commented, "is that the firm's liability is being reduced, making it harder for clients to prove that the firm or agent wasn't watching out for them and the conflicts of interest between the firm and one or both clients never gets disclosed." The National Association of Exclusive Buyer Agents is a national organization of licensed Realtors who represent only buyers in real estate transactions. NAEBA's members exist throughout the United States. The consumer-oriented organization is headquartered in Longwood, Florida. Its principle belief is that buyers of real estate can expect fairness in representation only when they can be represented by an agent who never represents sellers. To learn more about NAEBA, you can visit their web site at http://www.naeba.org or you can call NAEBA at 407-767-7700. ----------------------------------------------------------------------- Please, contact your legislators to voice your opposition to Designated Agency. You can find out how to contact your legislators to register your oppostion to Designated Agency by going to: http://www.legis.state.wi.us/wamltest/ -------------------------------------------------------------------- Also, PLEASE forward this message to everyone you can and please also print it out--and distribute--to those who you know that don't have email capabilities.] --------------------------------------------------------------------- [This message is going out to thousands of Wisconsin Realtors, almost 500 governmental officials--including all State Legislators and their respective staffs, the Governor of Wisconsin and most candidates for Governor of Wisconsin, the Attorney General of Wisconsin, over 425 Consumer Advocacy Groups and/or individual Consumer Advocates, over 285 Registered Wisconsin Lobbyists and over 190 Media Outlets.] -- Sincerely Yours, Jay Reifert, Organizer/Director of Operations REAL-Reform (Real Estate Agency Law-Reform) http://www.real-reform.org Jay Reifert, Broker/Owner*****************Excel-Exclusive Buyer Agency 100% Homebuyer Representation********5136 E. Hilltop Road 100% Of The Time****************************Madison, Wisconsin 53711 South Central Wisconsin's ONLY********(800)928-9379, Toll Free Full-Time Exclusive Buyer Agency Firm.***(608)273-8841, Office Visit http://www.true-agent.com ***********(608)273-8388, Fax Machine or mailto:true-agents@true-agent.com Check out our NEW website, at: http://www.Buy-Madison-Real-Estate.com