Businesses must treat customers fairly if they expect to do business with them again or get recommendations to their friends. Customers of stores like Nordstrom’s understand that a salesperson is an employee and represents the company.
The duties a buyer or seller can expect to receive from a real estate salesperson or broker include but are not limited to honesty, accountability, full disclosure, representation and reasonable skill and care. Buyers and sellers might additionally expect representation, obedience, loyalty and confidentiality. State laws can differ on specific duties.The line becomes less clear in some industries, especially ones that involve real estate. Agency is a legal relationship authorizing a person to act for or in the place of another. It involves responsibilities that exceed treating a person fairly.
Mortgage and title officers are limited in their duties to the buyer to honesty and accountability and specific requirements under the federal Real Estate Settlement and Procedures Act.
A special relationship with a real estate agent makes it advantageous to have them coordinate efforts with the other professionals in the home buying process. Since most buyers’ and sellers’ transactions are infrequent, the agent can bring valuable experience to the transaction.
Every buyer and seller should discuss the level of service they expect from the real estate professional they work with. Another good question is what happens if the purchase and sale are within the same company.
Author:Duane Caraballo Phone: 720-371-8629 Dated: June 12th 2017 Views: 94 About Duane: ...
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""House hunting on your own is never a good idea. In the Louisville/ Lafayette area it is not an option! We looked for months on our own only to find all the homes we were interested in were already under contract, sold or in over market bidding wars. Luckily Duane Caraballo reached out to us, and stood out from the rest. His casual, calm approach was just what we needed. Duane was understanding and patient with us and our small children through many, many walkthroughs and open houses. The convenience of his office being right in Louisville and his knowledge of the area was a bonus. It took about 4 months to find our home but once we did Duane quickly submitted our offer and stayed in constant communication with us through closing. We are very pleased with our house, the neighborhood and our final closing cost. The process of searching for and purchasing a home is stressful in itself and I can honestly say our realtor never added to this. He was great from the beginning to the end! We highly recommend Duane and would call him if needed. Although, I really hope we don't have to move anytime soon." 3/9/2015"