The Board of Registration of Real Estate Brokers and Salespersons has released an updated Mandatory Licensee-Consumer Relationship Disclosure. The updated disclosure clarifies that, in the absence of a personal meeting between the licensee and consumer, the form must be presented no later than the licensee entering into a contract with the consumer. Additionally, the disclosure now clearly states that it is only required for residential property. Residential property is defined as land with a building intended for use as a one to four-unit residential dwelling or the purchase or sale of land on which a building is intended to be constructed for use as a one or two-unit residential dwelling.
MAR is working with our forms providers to ensure the libraries include this updated form. In the meantime, the updated disclosure may be accessed here.