Licensed Real Estate sellers must abide by certain specific guidelines, in terms of ethics, integrity and service. However, since, for example, a listing Agent owes his loyalty to his client, in addition to complying with the laws regarding real estate, there are cases where there can be some confusion about where one’s loyalty to his client begins. client. and it begins as it ends. This fine line often centers on whether specific information is relevant, in terms of being, material, and what that means and represents. With that in mind, this article will attempt to briefly examine, review, and consider some of the central considerations involved.
1. Personal circumstances of the client: An agent must maintain the privacy that his client needs and deserves! Some of these considerations include: the specific reasons one might be selling; any financial needs of your client; time frame; any flexibility as to price etc. The ethics of an agent, demanding fiduciary loyalty from those they represent, Informing, for example, a potential buyer, of their client’s house, any of the above information, can weaken, their bargaining power. It is your ethical responsibility to do everything you can, legally and ethically, to serve them and try to achieve their objectives, which can often include getting the highest possible price, in the shortest possible time, with a minimum of hassle. or stress.
two. personal knowledge: When a potential buyer asks a question, you must answer it honestly and as fully as possible, within the limitations and constraints of your ethical commitment to the person you represent. This means that if you are asked about schools, the neighborhood, crime, etc., you should be the source of the sourcethat is, tell them where the requested information might be available, rather than your version of those facts.
3. Material declarations: If you become aware of a material problem, such as public information about certain public projects, etc., that could negatively affect the value of the property, or the enjoyment of the property in question, or any material defect, such as personally known structural problems, etc. . you must disclose these.
Remember, the personal responsibility of an agent, as a representative/agent of the property owner, includes protecting things, such as personal fiduciary/financial information, any personal matters (marital, family, etc.), etc., but this does not exclude the legal necessity to disclose, honestly and honorably, any and all legally material matters to which the buyer is entitled. The more we know and understand, the better the process will be!
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