Disclose Owner/Agent If Retired?
QUESTION: If a real estate agent has their license in retirement, is a owner/agent disclosure necessary when listing/selling their residence?
ANSWER: Yes, an agent should disclose and advertise that he is an owner/agent even though the license is retired. According to the Tennessee Real Estate Commission (TREC), the Commission is of the opinion that even though the license is retired, it can be brought out of retirement at anytime and therefore the agent should make this disclosure. The agent should let them know that he is a retired agent. we would recommend that this disclosure be made in writing and signed off on by the buyer.
[SOURCE: TAR's Legal & Ethics Hot Line Attorneys]
