Did you know that as a Realtor representing a client I owe
certain duties to the client?
These duties are part of what we provide in an agency
relationship with the client. This
relationship is usually created when the agent has the client sign either a
listing agreement or a buyer’s agreement.
These documents are not created to bind the client to the agent,
although there is some of that. We
agree to work together, and the client agrees that I am their agent, at least
in the specific houses I have shown them or for the specific time we agreed on.
In this relationship with the client, I, as the Realtor, owe
certain duties: loyalty, obedience, disclosure, confidentiality, reasonable
care and diligence, and accounting.
So, what does this actually mean?
Loyalty states that as your realtor, I will act in your best
interests at all times. In other
words, all my actions in our real estate endeavors will be for and in your best
interests; not mine, not my friends, not my family.
Obedience: As
an agent I represent you and will follow all lawful instructions in the
marketing or buying of real estate.
You are the boss. Final
decisions and directions are determined by you, the client. An agent should not push you to a more
expensive house, or refuse to make an offer because it is too low, for
example. I am the trained
professional in Real Estate, and I have trained in order to be your advisor,
guide, teacher, and negotiator, but not to make your decisions for you.
Disclosure: An
agent is always honest and I will always be honest with all people, whether
they are clients or not. But, to
my clients I must disclose all known and relevant facts that will help you make
good decisions. I owe my loyalty
to my client with whom I share my information. At the same time I cannot keep secret known material facts,
this is part of being honest. And,
at the same time I owe the next duty, confidentiality, to my client for all
time.
Confidentiality:
I will, and must, keep my clients lawful confidences and secrets. As an agent I know how low a client is
willing to go, or perhaps I know the urgency the client has for selling a
house. This is a confidence I
never share.
Accounting: As
an agent I must account for and be responsible for all money and property that
has been entrusted to me.
The last duty is reasonable care and diligence. This means I need to know what I am
doing and do it to the best of my ability. I have taken 90 hours of real estate classes just in the
first year. These classes are in
real estate law, ethics, finance, measuring and appraising, and much more. We have to keep taking classes every
two years.
By the way, there is a difference between real estate agents
and a Realtor. All Realtors are
real estate agents, but not all agents are Realtors. A Realtor is held to a higher standard of ethics and
training.
With all the trust and information you give a Realtor, it is
good to know we will take care and honor your trust.
So, lets find you a house, or lets get your home sold! Call me and let me know how I can help.
