Posted by: Roby Robertson | May 19, 2009

Lake Norman Real Estate|Respect for Realtors

Lake Norman Realtors – Good Ones…

Lake Norman Realtor
I just completed my mandatory Continuing Education classes for the year and I can tell you that being a GOOD Realtor is not for the faint of heart.
Being a good Realtor requires L.O.A.D.S and much more:

L = Loyalty and Confidentiality
There are situations that arise that we need to know how you want us to handle. If we are the listing agent, how do you want us to handle multiple offer situations. We can advise but we can’t make the decision for you. Your agent should be asking you questions, offering advice and keeping confidential that which should be. Be sure you are confident you agent has your ‘back’!

O = Obedience
We are to obey your wishes and our fiduciary responsibility to you as long is follows license law.

A = Accounting
It is our job to make sure you understand how all the money is accounted for.

D = Disclosure
We have to disclose everything that is a material fact. This is also one reason why you should also choose a Realtor that is local to your market. Remember the agent and the seller are liable for non-disclosure of things that should be disclosed whether it is willful or negligent.

The Whole Point of Disclosure is to put on notice so the may investigate if they want, but they cannot investigate matters of which they are not aware, particularly latent, rather than patent, issues.

S = Skill, Care and Diligence
This is related to D and why your choice of agent should be local to the area. We should show skill, care and diligence in knowing facts that, if not disclosed, can be construed as misrepresentation or an omission.

DID YOU KNOW #1?  Buyers agents are required to disclose all compensation to you. They are not to receive any hidden fees! Doing so is against the law and unethical!

I wonder sometimes why some do not respect the efforts of Realtors.  We have strict requirements for keeping ourselves educated.  We have liability issues that many are very unaware.  Good Realors, of which I am one, work very hard for our clients and educate, communicate and negotiate!

Are talking to agents and getting ready to hire one?  Are they asking lots of questions that ultimately will protect themselves and you?  If not, keep looking!

DID YOU KNOW #2? Some buyers will call the listing agent directly because they believe they can get commissions cut. Two things to consider. First this may not be the case. How would you know? Will the listing agent tell you the listing commissions. If they are not representing you they don’t have to. Second. If they represent the seller, will they disclose everything. Some things are not material facts and have to be disclosed. However a good buyers agent might know something that could inpact the decision even though it is not a fact that has to be disclosed.

Let me give you and example. Suppose a home is being sold in a neighborhood. The neighboring home is a rental and the police have been called multiple times for disturbances. Is the listing agent going to tell a buyer. A buyer agent using skill care and diligence sure would!

This is just some examples of why Realtors deserve respect and you, the buyer or seller, should find one that truly understands his/her responsibilities.

If you are looking for an agent in the Lake Norman area and want one that understands L.O A.D S, please contact your Lake Norman Agent at 704 451 7051.

See Also:

What makes a good Realtor?
Your Lake Norman Agents Marketing Plan

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