Real estate blog entries tagged with fiduciary responsibility

Blog entries tagged with "fiduciary responsibility":

fiduciary responsibility: New Fed rules miss one key lending abuse - 07/27/08 06:07 AM

This is amazing!
The FEDs require full disclosure and fiduciary responsibility for any money-related transaction with clients EXCEPT in the case of mortgage brokers.
They are not required to disclose UPFRONT how much they are making on the YIELD SPREAD PREMIUM, a payment made to the loan originator which normally just … (6 comments)

fiduciary responsibility: RANT: Bias, and Unproductive Practices: Requiring 5% (or any minimum) Deposit To Present an Offer - 07/11/08 12:07 PM

There is a brokerage in RI that has repeatedly requested a minimum 5% deposit when submitting an offer to them. While it is understandable that the brokerage desires to cover their commission as much as possible, and perhaps, stretching way over backwards to come to this, they might want to show … (28 comments)

fiduciary responsibility: Fiduciary Responsibility ~ Basis for Good Real Estate Practice! - 05/17/08 10:42 AM

Here in California, we as Realtors have a fiduciary responsibility to our clients. It is a lofty and heavy responsibility. I take this responsibility very serious and I believe that when we embrace a responsibility for another's welfare, we are held to a standard that will require contant vigilence and a … (33 comments)

fiduciary responsibility: Fiduciary responsibility is to the seller of the short sale....not to the lender - 04/22/08 08:34 PM

We are having such a lively discussion at our office, and there were very strong opinions expressed.
One of the scenarios: there is an accepted offer on your short sale listing, but the lender hasn't accepted yet. Then more offers come in. You can take one or two in back up position, and you can/may present … (8 comments)

fiduciary responsibility: Agent advised seller to loan buyer money as second...then the bank foreclosed 10 months later! - 03/05/08 12:30 AM

While browsing through listings of foreclosures in a certain area, I discovered that a house my client sold over a year ago, using another agent, was foreclosed. When I mentioned this to my client, he was surprised. It turns out that at the advice of his agent at that time, he agreed … (5 comments)

fiduciary responsibility: Fiduciary Responsibility Whose is it anyway? - 03/02/08 06:04 PM

Don't be left in the Wake! Some kind of Fiduciary Responsibility belongs to all of us. Even if you are acting as a transaction broker, You still have a DUTY to maintain limited confidentiality to the party you represent (unless waived in writing) Including disclosure that the seller will accept less, or … (1 comments)

fiduciary responsibility: Stand Up and Fight ~ Don't You Just Hate It When People Lie! - 11/20/07 07:31 AM

I am starting a movement to round up all those folks that lie. Alcatraz is currently not in use. We could put them there. Life as we know it here on earth would be better without these people. I hate how long it takes to figure out that you are being … (13 comments)

fiduciary responsibility: I would really like to believe that most real estate professionals intend to fulfill their fiduciary responsibility! - 10/04/07 10:27 AM

I came across an add this week which stated that real estate professionals do not take the time to compare and choose a Title company for their clients. Further, that these Realtors and Mortgage Brokers want to send title needs to someone with whom they have a relationship or obligation, based upon the idea … (9 comments)

fiduciary responsibility: More on Why Use A Buyers Agent - 09/10/07 02:15 PM

Sue Argue posted a blog with a question about why she would want a buyers agent. I thought I would reply here, as well as on her post.
My comment on her post reads:
Sue, let me ask you something, hypothetically...
I am an attorney, and a nasty one at that... I represent … (8 comments)

fiduciary responsibility: Where Have All the Professionals Gone? Real Estate Rant of the Day - 08/25/07 07:02 AM

Today, the last straw gently drifted down and settled on the proverbial camel's back. I just need to ask you what is happening out there in real estate land? So many agents with zero open escrows, and time on their hands, yet some of the things I've encountered recently in transactions … (105 comments)

fiduciary responsibility: Did the Real Estate Agent Do Their Job? - 07/29/07 08:58 AM

I was perusing the net and found a story online I wanted to share. Let's put a little different angle in hopes of creating some responses from real estate agents. Before I share the link I want to say first that the mortgage person depicted in this story is a criminal and … (10 comments)

fiduciary responsibility: Fiduciary Responsibility, part 1 - Loyalty - 07/22/07 11:38 AM

I've thought about writing about this for some time. In the state of North Carolina we who hold real estate licenses are brokers, or provisional brokers. We are not salespeople! Salespeople have customers, Brokers have clients. Brokers owe their clients Fiduciary Responsibilities. Here in Brunswick County many Brokers have forgotten that … (6 comments)

fiduciary responsibility: "Feeling Out" the Seller's Agent Before Writing An Offer - 07/05/07 11:02 PM

I have been active in the Colorado Springs market for about 12 years now. I LOVE a good deal and I love getting the best deals for my clients! Much of the time, I work as a Buyer's Agent and I feel I'm pretty effective in helping my clients to procure … (9 comments)

fiduciary responsibility: I'm a little bothered by a comment I just read. - 12/05/06 06:13 AM

In response to a post that an agent wrote about not taking an overpriced listing from an unrealistic seller, there was a comment:
In the changing market, I think it is a good idea to take any and all listings you can get, as long as it won't get you into any … (51 comments)