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NORES Board Recommends that Realtors no longer provide square footage.

03 May

Based on a decision by the Oklahoma Supreme Court and the recommendation of NORES Legal Counsel, the NORES Board of Directors approved taking action to begin the process of removing square footage data from all active listings and information available through NORES. The Board also approved taking action to recommend changes in the sales contract and other supplemental forms. The Board intends to request the participation of the other REALTOR® Associations in the State to propose legislative action to address the potential liability for the disclosure of square footage data.
According to the Oklahoma Supreme Court decision, “A buyer of real property may rely upon the positive representations of REALTORS® and sellers about the size of the property to be conveyed.” The buyer is not obligated to conduct an investigation to determine the actual square footage if such a representation is made. The Court held that a waiver and release signed by the buyer did not protect the REALTOR® from liability for any detriment suffered by the buyer, or from allegations that the REALTOR® violated the Oklahoma Real Estate License Code by misrepresenting the size of the home.
At this time, the Board recommends you cease providing any square footage data to a buyer, including information available through the MLS. The Board also recommends any advertisements of homes, including online and print media, not include any square footage data

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3 Comments

Posted by on May 3, 2010 in Real Estate

 

3 responses to “NORES Board Recommends that Realtors no longer provide square footage.

  1. Tia Stout

    May 3, 2010 at 3:29 pm

    I think that this will make it more difficult for a buyer to compare houses when making their selection. We have made it a requirement that we only use square footage from an appraisal or courthouse records. An appraisal is as accurate as any measurement can be. It seems ridiculous that, again, we have to make rules that affect the majority of people adversely because a small minority has sued someone.

     
  2. Devi Allison

    May 4, 2010 at 5:27 pm

    Does being a member of NORSE require that we do not give square footage of properties to our clients? We are going to be showing a lot of homes that are not in our client’s criteria simply because of the size issue. Just another way to keep realtor’s working harder then ever.

     
  3. Allen Stout

    May 8, 2010 at 6:49 am

    Hopefully this has passed thanks to the quick response by our members. Some large brokers may opt to remove the square footage from their listings. One large brokerage has already indicated this. If they do that, then they will lose traffic to their web sites among other things.

     

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