I've been studying real estate law lately for personal pleasure and to better understand the process of buying and selling because I happen to be selling right now. I opted to "sell by owner" using the popular site forsalebyowner.com. I opted for a package that includes an MLS number and posting to popular real estate sites.
After pulling the trigger, I find that apparently Idaho state law does not allow the sale of any property without a broker taking on the owner as a "customer". I learned this from a broker who called me. He was sent by forsalebyowner.com and is responsible for creating the MLS number. He quoted Idaho code 54-2086. The part that stands out:
(3) The duties set forth in this section are mandatory and may not be waived or abrogated, either unilaterally or by agreement.
My impression until today was that neither a broker nor an agent was required for any real estate sale. The two parties could open escrow and proceed without them, though it is often advised to have a "real estate attorney" draft and review all documents before you sign them. Indeed, after reading nearly everything on forsalebyowner.com, this impression was reinforced. To the broker's credit, he conceded that Idaho is a bit unique.
Is this broker's claim and cite of Idaho code correct?