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20 February 2011
REALTOR®: ARE YOU MARS RULE COMPLIANT?
Do you represent a 'distressed homeowner'?
Do you represent a 'preforeclosure' client?
Do you represent a 'short sale' client?
Do you submit short sale offers directly to the lender?
You may not be in compliance with MARS Rule.
REALTOR® MARS Rule Compliance:
The MARS Rule is generally recognized to present some specific compliance challenges for REALTORS® and Real Estate Professionals (including Mortgage Professionals) who are working with distressed clients. Since the 'MARS Rule' is so broad, Licensed Real Estate Professionals should consult their Broker and/or attorney in their state for clarification. But speaking in general non-legal terms it seems to be widely agreed that: The REALTOR® / Licensed Real Estate 'Agent' cannot provide ANY MARS services and cannot contract on behalf of the client to have provided to the client any MARS services. If there are MARS services to be provided to the client, the client must contract for those services independent from the REALTOR® / Licensed Real Estate 'Agent'. To be outside the MARS Rule, the real estate agent is limited to providing traditional real estate services.
SwingSign Corporation is an experienced, nation-wide loss mitigation company based in San Antonio, TX. SwingSign contracts directly with the 'distressed homeowner' to negotiate the short sale with the lender.
You (REALTOR® / licensed real estate agent) continue to market the property, bring the offers and at closing: get paid your commission.
SwingSign Corporation
(866) 631-1015
www.SwingSign.com
