Locate a GRI GRI Designation Real Estate Masters e-PRO Certification

Wednesday, July 8, 2009

New Law requires Disclosure of DRE License Number

DRE Bill 1461

Effective July 1, 2009, California REALTORS® must disclose their DRE license numbers on first contact materials and real property purchase agreements. The new regulation has been put in place to aid consumers in verifying the license status of a licensee.
(see Bill 1461 text)

What are first contact materials?
  • business cards
  • stationery
  • advertising fliers
  • other materials designed to solicit the creation of a professional relationship between the licensee and a consumer
What is excluded?
  • advertisement in print or electronic media
  • "for sale" signs
  • classified rental ads reciting the address and phone number of the rental property
C.A.R. Forms

DRE license numbers must be disclosed on real property purchase agreements. C.A.R. has incorporated this into all new standard form purchase agreements.

No comments:

Post a Comment