Wasilla Real Estate News, Valley Market Real Estate

Alaska Has No Real Estate Agents May 3rd, 2007

Categories: For Buyers, For Sellers

Since 2006 there have been no real estate agents in Alaska.  The Alaska State Legislature passed statutes that the Alaska Real Estate Commission put into regulation that effectively eliminates real estate agents.

That doesn’t mean we can’t earn a living, we still represent buyers and sellers and we are still paid for our services.  But we are no longer agents.  The term agent carries legal baggage that was often unintended in relationships between buyers, sellers, and real estate agents.

We are now only real estate licensees that have specific duties in our relationships with buyers and sellers.  As the real estate commission’s consumer pamphlet spells out, there are four possible relationships a licensee can have with a consumer.

• 1. We can provide specific assistance.  We would not be representing the party, just assisting them in their real estate transaction.
• 2. We can provide representation.  This entails a higher level of duty on the part of the licensee toward the consumer.
• 3. We can be a designated representative.  This is when one licensee may represent the seller in a transaction and another licensee represents the buyer, but both are part of the same office.
• 4. We can be a neutral licensee. We can help both a buyer and a seller in a transaction without representing either one. 

All four of these situations require different duties on the part of the real estate licensee but all of them require at least the minimum of duties.  This minimum is the same as that owed under specific assistance.  These duties are:

• 1. Exercise reasonable skill and care.
• 2. Deal honestly and fairly
• 3. Present all written communications in a timely manner
• 4. Disclose all material information regarding the physical condition of a property
• 5. Account for all money and property received.

The other duties are outlined in the consumer pamphlet which all consumers should read.

I will deal with the other three levels of representation in future articles.

Feel free to comment with questions or clarifications.

 

Written by Marty Van Diest 1 Comment »

Wasilla Alaska, Knik Arm Crossing. May 2nd, 2007

Categories: Wasilla Real Estate News

A friend emailed me this interesting concept about the Knik Arm Bridge.  It basically incorporates private enterprise into the Knik Crossing.  You may have heard the more famous name for this bridge…the “Bridge to No Where”.  

This has been a serious project for quite some time. I have heard it discussed for at least a decade. Here is an engineering study from 2004.  The US Congress did earmark funds for this bridge in 2005 and then took away the earmarks while still awarding the money.  So now the state has to decide whether to use the money for the bridge, or for something else.

There continues be evidence of momentum for this project.  The state legislature is talking about extending the rail road to Point MacKenzie to meet up with the bridge and road projects are in the works for the Point Mac area.  In addition a bridge would simplify transportation for the new prison which is still on track for completion.

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Written by Marty Van Diest Please leave a comment.