MARS blew up…

Posted on Jul 15, 2011 by Trent Chapman

Great news for Agents who do short sales!! Were you as annoyed as I was by the FTCs MARS ruling when it came into affect in early 2011? I can’t stand the confusing wording of the MARS disclosure that my State’s Association came up with as so many of my clients thought that it meant that even if we didn’t close on the short sale, I was going to come after them for my commission! Watch the video above to hear how this will change what you are or aren’t required to do with short sales. This announcement means that advanced fees (if allowed by State law and properly contracted) are once again permitted by agents and they are no longer required to have all the extra disclosures on their websites, marketing materials, emails and the extra disclosure that was to accompany the listing agreement.