State Roundup: Colorado, Florida, and Washington

March 1, 2003

Colorado: Outdueled

Practitioners can work with both buyers and sellers under designated brokerage rules that took effect on January 1. The rules permit a real estate professional to enter into one of three different relationships with buyers and sellers: 1) as a transaction broker, who helps both buyer and seller with paperwork but doesn’t represent them, 2) as an agent of the seller who may also work with the buyer, but only as a customer, or 3) as an agent of the buyer who may also work with the seller, but only as a customer. Colorado allows only single agency and transaction brokerage. Subagency and dual agency have been eliminated.

Florida: Writing assignment

College-bound students who pen a winning essay on how a real estate professional benefits the community can get tuition assistance from the Florida Association of REALTORS®. The association gives $1,000 to each of the winning applicants in 13 areas around the state and another $5,000 to each of three finalists, for total assistance of $28,000. Winners receive their awards at FAR’s annual convention in August.

Washington: Fee disconnect

An increase in sewer and water connection fees passed last year by the Spokane City Council raises the cost of getting into a new home an average of $2,700 over the next three years. That has spurred the Spokane Association of REALTORS® to seek amendments softening the measure. The association plans to recommend to lawmakers that they 1) impose a one-year moratorium on implementing the fee, 2) create a fund to help low-income households pay the fees, 3) require the fee to be paid at closing, not at the pemit stage, to keep the fee from multiplying unnecessarily, and 4) reduce the increase by 50 percent, says Mark Richard, government affairs director for the association.

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