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: 319 About Duane: ...
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"Duane Caraballo is an outstanding realtor. He is an easy-going, fun person to work with. His knowledge of the Colorado Front Range, the extremely competitive Boulder housing market, and genuine interest in our needs and desires made buying our property a fantastic experience. Duane was patient, extremely attentive, and offered sound advice during the entire process. We couldn't be happier with our investment or with the service we received from Duane. Truly, I am convinced that if it weren’t for Duane, we would never have been able to purchase and close on this Boulder property. We would certainly recommend Duane Caraballo and Re-Max realty to others. Thanks so much for everything! "