Fiduciary Responsibility - What does it mean to you?

By
Real Estate Agent with Keller Williams Costal Properties Bre # 01424127

Fiduciary Responsibility - What does it mean to you?

"Utmost care, integrity, honesty and loyalty in dealing with Seller/Buyer." Words I believe we should refresh in our minds with each transaction. Even experienced agents can become complacent and need reminding of the importance of our Fiduciary responsibility.

These words lay the foundation for Realtor actions, causing me to review different transactions I have been involved with during the last month.

Upon accepting a transaction you may not be familiar with it is the agents responsibility to educate themselves on the different components of that transaction ie short sales, probate, Trustee sales, etc.  Even the traditional residential purchase agreement should be constantly reviewed as changes are implemented.

Again complacency is the enemy of any good Realtor.

As I read a post written by Kathy Godin "Be Careful I Kiss and Tell" one of the comments made me stop and think about my fiduciary responsibility to buyers when I am the Listing Agent or is there an ethical obligation - but to whom?

I spoke with an agent in my office who had the opportunity to act as a dual agent. He declined and did the right thing by the client who was going to allow him to sell the house for 150k but because the agent refused she ended up with an offer of $185k. The agent helped his client gain 35k.

One of my great take-aways from ActiveRain is the communication of ideas which inspire me to additional thought, research and sometimes office conversations.

But one thing I have grown to understand  is a true awareness of the importance of my Fiduciary Responsiblity to clients. As a consumer you need to have this discussion with your Realtor.

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If you are thinking of buying or selling real estate in Signal Hill, Long Beach and surrounding areas ~ call or email me.

I would love to assist you!

 

kristal wilson - kristal clear team                                           

making your real estate transactions kristal clear!

Keller Williams Costal Properties

cell: 562-794-0011

email: kristal@kristalclearteam.com

 www.kristalclearteam.com

 

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Topic:
Real Estate Market Trends
Location:
California Riverside County
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Comments 32 New Comment

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Rainer
258,302
Kimo Jarrett
Kimo's Lifestyle Solutions
WikiWiki Realty

Realtors have a fiduciary role in their performance to be virtuous in every aspect of a transaction not with standing their clients goals and objectives. 

February 12, 2013 06:03 PM
Rainmaker
668,436
Sharon Parisi
Dallas Homes
Keller Williams Dallas Premier Realty

Kristal, I agree with you. Everyone in the Active Rain community is inspiring. Every day I learn something new and find a topic that I want to research in more detail.

February 12, 2013 11:25 PM
Rainmaker
749,149
Marte Cliff
your real estate writer
Marte Cliff Copywriting

I think agents often forget the honesty part when they're representing one side or the other - and think it's OK to be dishonest with the "opponent."

February 13, 2013 12:04 AM
Rainmaker
185,530
Kristal Wilson Signal Hill Homes
Making your real estate transaction kristal clear!
Keller Williams Costal Properties

Kimo ~ I'm in agreement with you as Michael in item# 22 provided a paragraph from the NAR Code of Ethics.

Sharon ~ reading through various posts you will find a wealth of information.

Marte ~ My Mom used to say "honesty is the best policy."

February 13, 2013 02:53 PM
Rainmaker
810,009
Joyce Kelley
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.
Charles Stallions Real Estate Services Inc

I represent the transaction to the detriment of no one. I am upfront right off the bat with what I do, Most don't listen.

February 17, 2013 01:23 PM
Anonymous
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Rainmaker
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Kristal Wilson Signal Hill Homes

Making your real estate transaction kristal clear!
Buying or selling ask your real estate questions~
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Additional Information

Author Bio: My experience with new and newer construction, luxury homes and various communities make me an asset for buyers and sellers.