To defend against fair housing complaints filed by buyers, listing agents can help protect their seller client.
In the SCR listing agreements, seller clients agree to comply with fair housing laws.
Love letters and buyers’ names that can reveal or hint at or allow seller online research (e.g., Facebook) of fair housing protected class information can be shielded from seller consideration.
Grids of offer terms with material terms, lenders, and brokerage information can be used to present offers to sellers in offer scenarios while shielding the seller from fair housing risk information.
Love letters that focus solely on pre-approval loan information and financial information without fair housing issues can give buyers an improved chance at getting the property in a multiple offer competition.
Listing agents can document how a seller decided to accept an offer as a fair housing risk management strategy (e.g., the seller chose the offer because of the price, quick to close, large earnest money and due diligence termination fee, using due diligence, lender information, brokerage information).
Posted by: Byron King on 6/17/21 (This information is only accurate as of 6/17/21. You must contact SCR for updates and changes to this information after 6/17/21 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)