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What must a licensee do when selling their own property and placing ads in the local publication? disclose their license status BEFORE entering serious negotiations.

What the law requires: Most states, including Missouri, have moved away from the “Buyer Beware” scare tactic. Instead, as the seller, you will be asked to complete a Seller's Disclosure. This is a form that buyers use to learn about the property, including any potential issues.

The District Courts accept cases where the amount sought for damages is up to $5,000 and above, but not over $10,000, while the Superior Courts handle cases above the $10,000 threshold. However, the two courts have concurrent jurisdiction for claims between $5,000 and $10,000.

The Hubbard clause specifies a timeframe during which the buyer must secure a buyer for their current property. The length of time is negotiable and can range from weeks to months. Once the buyer receives an offer for their current home, they must notify the seller of the new property.

The Challenge of a Hubbard Clause The seller has no control over how the Buyer's home is priced or shown. It is recommended that the Seller take a hard look at the marketability of the Buyer's property before entering into a Hubbard Clause agreement.

A Mother Hubbard clause is a provision commonly found in oil and gas leases that serves to cover any small strips or parcels of land that may have been inadvertently omitted from the legal description of the leased area.

In advertising, a broker must include the legal name of the licensed real estate broker and the designated name of that broker as registered with the Commission. Additionally, the broker should include the name of the broker's Realtor board or association or Realtist organization.

A licensed firm advertising must include on each page: The company's name as registered with the Commission; The city and state where the firm's main office is located; The regulatory jurisdiction in which the firm holds a real estate broker's license.

What item(s) must be included on ALL real estate advertising in Maryland? All advertising must include the broker's or company's name as it appears on the licensee's license. A logo alone doesn't suffice. If a salesperson or associate broker includes their phone number, the broker's number must also be included.