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          Realtors follow a strict Code of Ethics.  Why not Buyer's and Seller's?

 

 

 

                 What would you add to the following if there were a Buyer/Seller Code of Ethics in progress?

                                                   

                                                       Real Estate Code of Ethics for the Buyer and Seller

 

1) I will be loyal and honest to my  REALTOR® and respect that they are thinking in my best interests.

2) I will listen only to my REALTOR®  regarding real estate matters because they are the experts in real estate (not me, my friends, my associates nor my family)

3) I will follow the contingencies and timelines in the contract and do "my part" for the transaction by following my agent's lead. 

4) I will not verbally, emotionally, mentally or physically abuse my REALTOR® (or for that matter any other human being)

5) I will ask my REALTOR® for referrals to home inspectors, loan officers, surveyors, title companies, escrow companies, tax people, etc. and not expect my agent to produce answers to questions they are not an authority on.

6) I will not call around to other agents or interfere in an offer or listing I have with my agent so that I can be "on top" of my transaction.

7) I will let my agent know if there are any concerns so that we can come to a "meeting of the minds" relationship.

8) Refrain from exaggeration, mis-representation, or concealment of pertinent facts related to property or transaction.

9) Respect the exclusive representation or exclusive brokerage relationship agreements that other REALTOR® have with their clients just as my REALTOR® does.

10) I will not purposely create an environment that prevents my REALTOR® or a REALTOR® Representing a Buyer from showing my property to ready, willing and able buyers.  (For Seller's)

11) I will never plan trips out of town or out of the United States without first checking with my agent. (Courtesy -in case there may be something to sign or do during this crucial time!)

12) I will not purchase a new car or take out new credit cards while in escrow (for buyer's)

 

 

The following was Prepared by the NATIONAL ASSOCIATION OF REALTORS®

Code of Ethics     (REALTORS'® Pledge of Performance and Service)

 

 

 

Celeste "Sally" Cheeseman (RA), e-PRO
Century 21 Liberty Homes,
Mililani, HI 96789

Office Phone: (808) 625-1776 Ext.: 300
Cell Phone: (808) 375-1404

http://www.hawaiihomesmarket.com

 

And more info for relocating to Hawaii and home purchasing:

Relocating or Residents-Buying Real Estate in Hawaii -Mililani, Honolulu, Oahu

Relocating and Buying Real Estate in Hawaii -Mililani, Honolulu, Oahu    (military)

Suggestions (Rules) while attending Open Houses in Hawaii

Relocating to Hawaii

 
This post has been included in Hawaii Information Honolulu County, HI Information
Post is included in group: Active Rain Newbies
Post is included in group: Century 21 Network
Post is included in group: ETHICS and the REALTOR
Post is included in group: Almost Anything Goes

49 Comments on Real Estate-Code of Ethics for Buyers and Sellers?

I wish we could get our buyers and sellers to subscribe to this.  I can't tell you the times the buyers or sellers were less than forthcoming -- and I could have been of help to them had I know the entire situation.

05/01/2007 03:09 PM by Ross Willingham, Realtor Associate (Real Estate Professionals, Dolores Lemon & Associates)


10. I will not purposely create an environment that prevents my REALTOR or a REALTOR Representing a Buyer from showing my property to ready, willing and able buyers.

There we several posts made regarding uncooperative sellers who refused to let them show the property and were extremely rude to the buyers agent.

05/01/2007 03:20 PM by Jennifer Martin (My Santa Claus IN Home)


10. I will never plan trips out of town or out of the United States without first checking with my agent.

Nothing drives me crazier then trying to get in touch with a buyer or seller about something they needed to sign or complete and they are out of town and won't be back for a week...

05/01/2007 03:53 PM by Manhattan Beach CA/ e-PRO..... Kaye Thomas... (Real Estate West)


Sally, I got a call today from a gal looking for an agent that had moved out of state, when I explained this to her she paused and I asked if she was looking to buy or sell a home? She told me he sold her a home 5 yrs ago and that she would now like to sell it. (Her agent is in our referel company, I have his info!) Not wanting to lose her and I could hear disappointment in her voice I asked if she would like his number so she could talk to him about what to do, she perked right up and said yes please! It will be win win for her, her former agent and us just because she is a loyal customer. :)

05/01/2007 07:22 PM by Lysa Napolitano, Call Coordinator ~ Century 21 Sundance (Century 21 Sundance)


Sally,

I love this. Think I will print it up and insert it with my Buyer Contract...Will let you know if they notice:)

05/01/2007 10:03 PM by Karen Hurst ~ Real Estate Broker ~ Warwick ~ Rhode Island (Storm Realty LLC)


For buyers: I will not purchase a new car or take out new credit cards while in escrow.

05/01/2007 10:20 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Not sure if you were being satirical but in my first read, it comes off as very patronizing and condescending. 

05/01/2007 10:29 PM by Ben Kakimoto - Seattle Condo Specialist (John L. Scott - Seattle | Belltown)


Sally, I agree with Randy, some buyers are not well educated and in the process of a little bit before of starting to buy a home, they get a car or something that can affect their finance situation, bad, but true !

 

05/02/2007 02:54 AM by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)


Sally, here you go again with fantastic info. Do you make them sign the bottom ;-) This is terrfic, off the top of my head I can't think of anything to add.

05/02/2007 08:46 AM by Phillip Cross, ePRO REALTOR® - Relo Specialist (RE/MAX 1st Advantage - CROSS HOME TEAM)


Karen:  Yeah, we all go through some sort of scenario with client's don't we?

Randy:  Will add it on....

Ray:  I'm adding that one on.....

Phillip:  We go through so many drama and trauma situations with client's ....and a lot of times are hurt when we put our trust in what they're saying is true only to find out differently in the end. You always give postive comments...thanks! 

05/02/2007 11:31 AM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Sally - Yes, I have had situations with clients which have been frustrating for me, where I did not feel they respected my services, advice and time.  

I think, though, it's because I, as the agent, did not set the expectations of each other up front to begin with.  It speaks more towards my failure to managing and educating the client.  I think we need to look introspectively with how we manage, communicate and work with our clients. They are the Client, after all...we work for them.  There are more civil, professional means of communicating expectations. 

If we have a client that disrespects us...we're the only person responsible because we let it occur.  And, we can choose not to work with them.  Again, as I mentioned, I wasn't sure if you were being serious in creating a consumer COE or if it was more light-hearted in nature.  I may be construing it too seriously.

05/02/2007 12:19 PM by Ben Kakimoto - Seattle Condo Specialist (John L. Scott - Seattle | Belltown)


Ben:  I think it's all in the matter of how I handle the situation...yes.  (I just emailed you) but sometimes the client is not always right either...not if it involves verbal abuse.  "I" look at myself and put myself in other's people's shoes constantly.

It's one thing for me to set expectations and "ground rules"....from the beginning...it's another if we happen to get a client who disrespects us...it is not my responsibility to "control" their behavior.  The only one I can control is ME.

Bottom line...this was not my intention to create a debate....but to have other's add on what they thought would create an ethical guideline for buyer's/seller's and us as agents.  You may want to read my other posts to see how I write....mostly to make light of all situations.   Okay....let's move on...thanks for the comments! 

05/02/2007 12:46 PM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Sally, great post.  Unfortunately, I have to remove it from the Localism Brainstorming group.  It doesn't seem to be on topic for that group...now, if you had a post about how to use localism.com to evoke buyer loyalty...that would be right on.

05/02/2007 03:05 PM by Rich Schiffer, REALTOR, e-PRO (Weichert, Realtors)


For sellers - If you would not get advice about chest pains from a plumber, don't get real estate advise from your unemployed cousin.

05/03/2007 01:34 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Don't I wish!! But then where would all the fun go?

05/03/2007 02:42 AM by Yvonne Brown (Century 21 Northwest)


Sally,

Most buyers think they are educated but the ones who think they are ...really are not in most cases.

I won't even buy a stick of gum.

05/03/2007 06:21 AM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)


Randy:  No kidding!

Yvonne:  In every career, job etc there is always ups and downs....

Neal: I think that goes for seller's as well

05/03/2007 11:19 AM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Hi Celeste-

I love it!  I'm surprised none of us came up with this sooner.....

I think a copy of this needs to go up in my office!

05/03/2007 12:35 PM by PGA National, BallenIsles, Mirasol - Marc Blasi (Leibowitz Realty / Knightlines Mortgage)


Marc:

I made a comment to someone that maybe I'm expecting too much if I aske the WHOLE WORLD to abide by a code of ethics????

05/03/2007 01:30 PM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Celeste-

That would be a great thing, but I would be thrilled if we could just get the people in our own business to pay attention to the COE!

 

05/03/2007 03:15 PM by PGA National, BallenIsles, Mirasol - Marc Blasi (Leibowitz Realty / Knightlines Mortgage)


Celeste-

Absolutely!

We also need the local boards to ENFORCE the COE.....

05/03/2007 04:09 PM by PGA National, BallenIsles, Mirasol - Marc Blasi (Leibowitz Realty / Knightlines Mortgage)


That is our bible for doing business,those codes are our professional code when in doubt read the articles it will put you in the right direction

05/10/2007 06:36 PM by Paul Anyanwu,Broker-Associate, RE/MAX LLEWELLYN


Paul:  This post was for buyer's and seller's and I included a link to OUR code.  I just sometimes wish we had one for everyone in the business...not just us.

05/10/2007 06:57 PM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Since we are talking about ethics I suppose I should ask permission before plagiarizing it.  Would it look good if I violated a copyright in attempting to get someone else to agree to be ethical <g>???  Anyway, if you don't mind our using this I would be greatly appreciative.  I will monitor for your response.

05/23/2008 07:02 PM by Howard Goff -- Clark County Vancouver Real Estate (Realty Executives)


I would like to know if further points are added to this list. All good stuff there. This would be great for them to read then hopefully follow.

05/23/2008 07:05 PM by Robert L. Brown~Grand Rapids Real Estate Flexit Realty, West Michigan (www.mrbrownsellsgr.com)


Howard: Do you realize I wrote this over a year ago?  I reread it....lol! Not bad for first time blogging huh? You go right ahead. Just put courtesy of ...... me. :)

Robert: I haven't since then....now you gave me an idea to bring this to life :) Thanks.

05/24/2008 12:36 AM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Hey, I see now that the post has been up for a while.  Do ethics change from year to year?

Thanks for letting me use it.

05/24/2008 02:04 AM by Howard Goff -- Clark County Vancouver Real Estate (Realty Executives)


Howard: Our COE has revisions every so often (as you know) but this post was meant as a kind of 'dreaming' there were COE for buyers/sellers ....sometimes it gets frustrating but all in all ... it is all a part of our biz. I revised and posted this once again (quite a bunch of additions to it) to show the humorous side of what was intended :)  You're welcome to add to it :)

05/24/2008 01:05 PM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


I will not let my agent show me forty+ houses and then go and write an offer with someone else. I promise to write the offer with the agent that actually did all the hard work.

05/24/2008 05:53 PM by Kelli Shaffer Realtor Norco, Corona, Riverside (Century21 Olde Tyme)


Sally, this is great.  I agree that everyone should have a code of ethics ... (not have, but actually LIVE by ... realtors have had one for a long time, but not everyone 'behaves' as if they do).

Kelli, that may be asking too much. :) 

05/24/2008 06:32 PM by Sylvie Conde, Broker, Toronto Real Estate (Sutton Group-Associates Realty Inc., Brokerage)


A Code of Ethics is not what the customer should or not do.  It is what a professional will or will not do.  Codes of Ethics do not apply to clients or customers. 

http://www.needanotary.net/code_of_ethics.php

Many of the comments are related to what the client should do or not do.  The premise is faulty and the idea of a Code of Ethics for customer makes no sense in a real world. 

When you build solid relationships and add value to assisting your customer, they will eat from your hands.  Many times customers unfaithfulness is a result of the Realtor not connecting with the client or not conducting a through interview to get and know the client. 

My question: how many would do real estate if there was no pay? I would say few if any.  That is the attitude one needs to be successful in retaining clients and customers and keeping their loyalty.

Money is what drives most people to this industry, and I suggest that is the wrong motivator.  I've found many Realtors with the skills or an order taker. do customers deserve better?

Having a license to sell real estate is one thing, having the skills to perform the duties are a completely different matter.

I'd love to see the bar rasied to only have persons seriously committed entry into the profession.

What is the purpose of a Code of Ethics for clients, to ensure a Realtor gets paid or deliver quality service to patrons?

06/17/2008 03:37 PM by Find a Notary Public | needAnotary (QEC Internet Services)


Find a Notary:

So .....you work for free?  Let me call you every time we need docs signed and you'll be at our beck and call?  For free? Having a notary license and stamp does not constitute you an expert in Real Estate either does it?  Or are you just sterotyping the Real Estate Industry as a whole...saying money is what consitutes our drive to help others?  You'd be surprised how MANY of us were in social work, nursing.

This was written over a year ago...and I have not only updated this one...but one for Tenants as well. I am licensed...but if you took the time to read all I have to offer you would see it isn't all about money. The majority of us go above and beyond.

And I don't want anyone eating out of my hands. It's a mutual relationship for a common goal.

You have an opinion...and closeminded as it may be.....I accept that it is what it is....but not in my book or my opinion does it carry any weight.

06/17/2008 08:32 PM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Celestine, 

Of course your opinion care weight!  You can craft you Code of Ethics.  I challenge you to give it to a client for their approval.

I think I have a voice being a licensed California Real Estate Broker for over 25 years.  I think I might know something about customer retention and human relations. 

Maybe I used a bit of a broad brush!  But, I am also and College Instructor and you would be surprised at the things you hear from student, which they say they were told by practicing professionals.  If you want to fell that a minority of people enter this field to serve, I would concur.  But, there is a BIG minority and we hear about them monthly in DRE communications. 

I challenge you to get a local newspaper and let me and you both look through the financial section and I feel confident that I'll find one or more mortgage lending ads that is misleading, false advertising or a bait and switch.  I feel that comfortable in my assessment. 

No I don't work for FREE.  But, neither will I attempt to compel a moral obligation to be my customer.  If I compelled you to do business with a rude disrespectful client, would you?  I certainly would not.  It would require too much of me and possibly make me negative towards another client. 

One lesson I learned early in my career was to be willing to fire your customer.  I attribute that to being a broker that requires a client to work my program or get fired.  Luckily, I'm only used that weapon a few time in 30 years.  Lesson #2, my first broker told we I could not continue to work and not be paid.  He promised that nature didn't work that way. Thirdly, I never spend a commission check in my mind until I physically get the check in my hand from escrow.  And finally, never appear desperate, as it will come through in your conversation and mannerisms. 

Plus, I've never forced a deal to close before it was ready.  The bread doesn't leave the oven until it is done.  I fight for my client even if it means a delay in closing.  Here is a perfect example.  We get the appraisal back after the middle of the month.  There is a 442 for security bars.  The customer doesn't get paid until the 5th of the following month.  The loan is to close for month end.  They customer can't do the work themselves and have no money or way to get their hands on any until payday.  What would you do?  Once I see you reply posted, I will post my response. 

Your concept seems to be forcing free-will upon the client.  If I don't want my attorney or doctor, I can change without cause.  Why can't I change lenders or real estate agent, especially if they are not servicing me in a way I feel appropriate.  Should we force sellers to list at reasonable prices or would it be better we educate them with our expertise and trust.  I guest that as a notary, I should be expected to force a client to sign a loan if they have changed their mind.  We do have a 3 day right of rescission on own occupied properties. 

What should our obligation to a seller be when we fail to sell a listing, after the client has placed confidence in us and followed our professional advise?  My issue is that the metaphors are being mixed and that is very confusing. 

Maybe I should write a Code of Ethics for how customers should treat notaries.  Once serious problem is that there are too many people in the real estate business for the demand.  1 out of every 5 adults in California holds a real estate license.  Being a realty profession requires you wear a lot of hats.  Babysitter, psychics, social worker (as stated), consultant, sounding board, listener, and pray warrior.  Yes, prayer warrior! In 2003 I had a deal where we had to pray a principal didn't die.  Yep, the mother was in her right mind, but was facing death.  As a matter of fact, she died a month after the loan closed. 

Your initial question was for ideas to add to your list.  Can we add the principal don't die to the list?  Or course I'm being ridiculous, but in effect that is what your request asks of a client. 

Thanks for allowing me to share my opinion.  We do notary work and actually, in my local the first signature is FREE.  But, there is a minimum $25 travel charge for within 3 miles. Outside the 3-mile radius, the FREE per signature do not apply. 

Enjoy for day and I wish you fantastic success in your business. 

Warmest regards,

Ntsike

PS:  Once I understood the business, I coined this mantra below: 

In real estate, you will rise to your ability to solve problems and relate to people.  Escrow is not closed until you get a check or your customer's signed cancellation.  And, a cancellation is not acceptable alternative!

06/18/2008 03:02 AM by Find a Notary Public | needAnotary (QEC Internet Services)


I was asking members to add to the list...Realtors® who have had bad experiences. This was not as you suggested.

Your concept seems to be forcing free-will upon the client.

I titled this year old post with a question to get input ...not force anyone to do anything....you may want to check out a more recent post. This post was updated last month...and it is more of a list for buyers or sellers to take a look at ...with input from our members too.

As for free...I do MANY free showings...and then they decide they want to rent. I don't have buyer's sign BRA's and feel that my expertise far outweigh tying someone to me...should our personalities not click. 

 And your question: What would I do?  I have been known to get the work done...I've even gone as far as cut 10 ft. California Grass (weeds that give nice paper cuts)

 

Bottom line....your comments I thought presumptuous to incinuate that this post would be nothing other than what it was intended. I normally would just not get into it although you came back with a more civil (my opinion) response.

 

And bottom bottom line....:)   There are good and bad in all countries, states and even industries and jobs. It's up to me to just do my part.....and that is...going above and beyond. The ones that did get into the industry for a quick fix ...money grubbing scheming don't last long....

It all comes out in the wash :)

 

Thanks for your input.

06/18/2008 03:44 PM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Aloha! Sally,

I will subscribe to you blog.  You have a refreshing perspective.  A spade is a spade! And, not a spade with squiggly lines. 

Enjoy and have a marvelous day! 

Warmest regards,

Ntsike

06/18/2008 04:28 PM by Find a Notary Public | needAnotary (QEC Internet Services)


Sally, same to you!  I wish you good success in your business dealings.  We be glad to help you sing any loans when your clients are out of the state or in a far away city, as we have notaries nationwide.

Here is the Code of Ethics we require our notaries to live up to. 

Have a beautiful day!

06/19/2008 10:43 AM by Find a Notary Public | needAnotary (QEC Internet Services)


Mostly great comments except for those strung to tight. 

I was thinking of writing my own Buyer Code of Ethics but came across your blog.  I had an experience recently where my client was not forthcoming with me on their situation.  I thought to myself... what if I treated them in the same manner as they are treating me - I'd be looking for trouble.  So why wouldn't I expect the same from them.  PS I decided to let them go.  Maybe refer them to someone I don't like... LOL

I think the best approach is to write it in a humors way but to the point.  This all can be stressful for the buyer/seller and it can take the edge off.  I let my client know that I am in charge of losing sleep and stressing over the "what ifs". 

I recently told a new client under escrow "Now I'm your momma, you can't go out of town or buy anything new without talking to me first."  We all laughed then I explained why.  I have that type of humors personality & it was not offensive but they got the point that I am looking out for their best interest.

07/01/2008 09:55 AM by Donna Edwards (The A-Team)


Donna,

Good approach!  A couple of lessons I learned early in the business have served me well for over 25 years:

#1)  Remember you can't work without getting paid.  Continue to do what you know is right, has integrity and is honest and you'll continually get paid.  It might not be from the client of transaction you expect, but you will get paid.

#2)  Be willing to FIRE you client.  If a client is too much drama, kick them to the curb by referring them to an agent who is also a jerk.  Their negativity will roll off on you and impact the way you relate to other clients, killing your spirit and business.

#3)  Don't mentally spend the check before you cash it.  If you mentally earmark the funds you expect to receive, you might get stuck sucking crap or worst making promises or commitments and the deal cancels.  Become desperate to a transaction and you may consider desperate measures to accomplish your ends. It comes out in your communications, actions and spirit.

I can't remember a time I got frustrated when a deal cancelled.  More times than not you can see the fastball coming towards you.  Usually, when you miss the pitch it is kind of like love you're blind because you want to see what you want and not what is being thrown you way.

If you study people that are consistently consistent.  The way they are is just the way they are!  Some will, some won't, so what, next!!!

Take solace in the deals that closed that had every reason not to close, but nature found a way get it closed and you got paid for it.  Same as a Code of Ethics don't stop bad brokers, originators or agents from grievous behaviors; a Code of Ethics won't stop insincere clients and customers from canceling a transaction for no good reasons.

Ntsike

07/01/2008 11:31 AM by Find a Notary Public | needAnotary (QEC Internet Services)


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Real Estate Agent: Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)
Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation
Mililani, HI
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Century 21 Liberty Homes -Mililani, Hawaii

Office Phone: (808) 625-1776
Cell Phone: (808) 375-1404
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