Trend Members want Full Disclosure on Pended Transactions in Trend
The Trend Board of Directors recently changed the policy on what is disclosed on Pended transactions within Trend. The new policy will list a property as pended, and no longer include information on the selling broker/agent, pended date, and settlement date, until after a property has sold.
The purpose of this petition is as follows:
1. The decision to modify the pended transaction data was not openly announced to the Trend member community to afford its members the opportunity to voice an alternate opinion prior to the vote.
2. To allow Trend members a vehicle to voice their opinion on the impact this modification has on the community and their profession at this time.
3. To highlight to the Trend Board of Directors that the data that was previously included in the Pended transaction report format is critical and valuable information to a) selling agents, b) buyers agents, and c) appraisers, in order to fulfill our responsibilities and obligations under Pennsylvania law according to the Consumer Notice, the Pennsylvania Exclusive Buyer Agency Contract and Listing Contract.
4. An opportunity to discuss this decision with the Trend Board of Directors.
If you are a member of Trend, and would like Trend to return to offering full disclosure of information once a transaction has pended, please “sign” this petition. Also, please forward onto any of your colleagues who you feel would want their voice heard in this matter.