Industry Watch

INDUSTRY WATCH

October 24, 2004

Vote delay sought for proposal on on real estate ads

Maryland's Joint Committee on Administrative, Executive and Legislative Review has asked the state Real Estate Commission to delay voting on a proposed regulation that would clarify an existing law on real estate advertising.

The proposal would require the name of a realty brokerage to be the same size as the name of the associate broker or salesperson in an advertisement. It would also set size requirements for the use of team or group names.

The committee requested the delay so that it can conduct a more detailed study of the regulation and review whether the commission exceeded its authority in proposing a regulation similar to a provision that the General Assembly repealed during its session this year.

Real Estate Commission members voted Thursday to enforce the existing rule.

"We're going to enforce it until we get a better definition," said Steven VanGrack, chairman of the Real Estate Commission.

Couple learn of killings at house, want money back

A couple in Sydney, Australia, say they want out of a $584,000 home purchase because the real estate agent didn't tell them that a former resident stabbed, choked and beat to death his mother, father and sister on the premises in 2001.

The would-be buyers say they never got a clear answer to their questions about why the home had been vacant for so long and that they learned of the killings from a newspaper report.

A surviving member of the family said the couple should have investigated the house's history and refused to return their $58,400 deposit.

The legal wrangling is expected to continue for weeks, according to reports in the Australian news media.

From staff and Chicago Tribune reports. The Chicago Tribune is a Tribune Publishing newspaper.

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