LSAR Introduces a New Form! Addendum to the Listing Contract: Personal Buyer Letter Disclosure

In response to growing concerns regarding buyer letters, the Lake Superior Area REALTORS, Inc. has drafted the Addendum to the Listing Contract:  Personal Buyer Letter Disclosure.  This form will provide a disclosure to the seller of inherit issues with Buyer Letters and an opportunity at the time of listing to affirmatively direct their agent on how they would like buyer letters to be handled.  LSAR’s legal counsel has reviewed the form language which will provide an important role in disclosure and limit liability for our agents and brokerages.  The form can be found in the “MLS Documents” section of the MLS and will be added to Instanet.  The language of the form appears below.  Special thanks to RE/MAX Results for providing a starting point and our Fair Housing Task Force members for their relentless pursuit of improving our industry and bringing this benefit to our members:  Kim Wolff (Chair), Rod Graf, Doug Kman, Lynn Nephew, Shaina Nickila, Jim Phibin, Danielle Rhodes, Yoana Sol, and Sara Wisdorf!

Click here for Addendum to the Listing Contract: Personal Buyer Letter Disclosure PDF

Seller has read and understands (lines 63-66 of the Wisconsin WB-1 Residential Listing Contract Exclusive Right to Sell) (lines 223-226 of the “Minnesota Listing Contract-Exclusive Right to Sell) [STRIKE THOSE NOT APPLICABLE.]

Seller further understands, that under the Fair Housing Act, Minnesota Human Rights Act, and/or Wisconsin Fair Housing Law, it is unlawful for Seller to discriminate based upon a buyer’s race, color, religion, sex, disability, familial status, national origin, ancestry, marital status, creed, public assistance, source of income, or age.

It is a known practice that sometimes buyers will include correspondence and/or photographs disclosing personal information about themselves to a seller when making an offer. This correspondence is often intended to influence a seller’s decision on whether to accept the offer. In such cases, there exists the potential for a violation of Fair Housing laws. Seller acknowledges that it is unlawful to base their decision upon any factors relating to any of the classes protected by Federal and State law, listed above.  Personal information disclosed about a buyer must not influence a Seller’s decision as to how to respond to an offer.

As such, Seller directs the listing agent/broker to [Initial One]:

________ Inform buyers/buyer’s agents that Seller is refusing personal correspondence and photographs that are provided with, or as a part of, the offer to purchase or purchase agreement. Personal letters, photographs, and the like will not to be provided to Seller.

________ Provide to Seller any personal correspondence, photographs, and similar items provided by buyer/buyer’s agent at any point in a transaction.  Listing agent/broker advises Seller to contact legal counsel regarding viewing such items and details that may reveal personal information or the protected classes of a potential buyer.