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I would really like to believe that most real estate professionals intend to fulfill their fiduciary responsibility!

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 that it is not "unheard of for a real estate broker to actually own a part of a title company and heavily encourage his employees to bring in the extra business."

If I was still a Realtor I would be greatly offended at their advertising! That kind of statement makes it seem like most real estate professionals primarily look out for themselves, and do not have their clients best interests at heart. I know that there are a lot of agents who actually have that mind-set. However, I would really like to believe that most real estate professionals intend to fulfill their fiduciary responsibility!

Order Title and Escrow Services Nationwide with one point of contact! This National Lenders Division services 49 states and all CA Counties! We have the personnel, experience, resources, and contacts to service all of your Title & Escrow needs Nationwide!

Daryn Gleghorn

Title Manager / Escrow Officer / Sales Representative

Old Republic Title Company

2394 Fair Oaks Blvd., Sacramento, CA 95825

Cell: (916) 214-7098

Office: (916) 972-8900

E-Fax (916) 880-9019

E-Mail DGleghorn@ortc.com

Posted by Daryn Gleghorn on 10/04/2007 10:27 AM

Comments (9)

real estate professionals, fiduciary responsibility, title companies, mortgage brokers, clients, business, realtor, service, escrow, choose

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9 Comments on I would really like to believe that most real estate professionals intend to fulfill their fiduciary responsibility!

OCT

2007

Some are too stupid to know what fiduciary responsibility is. They don't get much referral business I imagine!

Believeing and reality are two totally different aspects. I think most agents get into this business because they see dollar signs... I don't think it is possible to get rich just selling real estate.

Hopefully, the market itself has caused some of those people to change careers. :-)

I don't think it has to be a conflict that reduces the experience for the client... but my brokerage doesn't do title work. And, we have turned town using the title services of some companies that do (performance issues). But, we have worked with otehrs that do their own, and they were fine.

Daryn, Who would run such an ad? Yes, I'm offended. What are they saying? That unless I choose the lowest price I'm not fully representing the interests of my clients? What about service? What about security? And a whole lot of other intangibles.

Bill Roberts

Daryn,

Here in PA 'steering' is so much the rule that I call it 'power steering'. It is rampant and toxic!!! Thanks, Fran

P.S. To Brandon: Most rich people I know got that way through 'buying real estate', not from owning an interest in a title agency.

Yes Bill, it appears that is exactly what the add is advocating! I thought any Realtor or Broker who has integrity would be offended! Having been a Realtor myself, but now back in the Title business, and seeing that add agitated me somewhat! Thought I would share here, because I know there are a lot of sincere folk on Active Rain.

Daryn, I think it comes down to this. What does the customer want and what is going to make them happy. Then you have to figure in the rest of the factors of the title companies. I don't believe that any Realtor should own a mortgage company, I do not believe that any loan officer should own a title company, and I don't believe a title company should own either. I truly believe in separation, but I also believe in building partnerships that work and hold integrity in place.

JUL

2008

NOTICE:

Daryn Gleghorn is no longer associated with Old REpublic TItle, and representation to OLD REPUBLIC TITLE or OLD REPuBLIC INTERNATIONAL is a MISREPRESENTATION, should you have any questions, Please contact Dennis Wright via email at DWRIGHT@ORTC.COM, or by Phone (917) 781-4157

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