Fiduciary Responsibility, part 1 - Loyalty

By
Real Estate Agent with WPI-Gatefield Realty

 

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 they are agents of their clients.

So let me write about Fiduciary Responsibility #1, LOYALTY. This is loyalty to your client, not to your wallet. As the agent for your client, you must be loyal and keep their best interests ahead of those of any other party, including yourself. Knowingly accepting an overpriced listing just to attract buyers so you can sell them another properly priced property is a breach of responsibility. Not doing any of a hundred things that will help your client, including consulting them on price, condition of their property and show ability can be a breach.

I will always remember it's not about me it's about my client. If I do all I can for my principle including giving proper advice and consultation, use all the traditional, innovative and effective marketing at my disposal, and work for them, everything else will fall into place. Including my business.


Please visit my website DougJacksonHomes.com

Comments (6)

Anonymous
THANKS Jon
It makes me mad to loose listing to "the highest bidder" It's not right and it hurts all of us.
Jul 22, 2007 05:49 AM
#2
Anonymous
Freddie
It makes me mad too, and it can cost the sellers.
Jul 22, 2007 05:58 AM
#3
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

It certainly doesn't help anyone!

Is honesty to all parties next? 

Jul 22, 2007 06:16 AM
Doug Jackson
WPI-Gatefield Realty - Leland, NC

Honesty to all parties? Yes! Why don,t we act like professionals?

Lane, I Know you were probably kidding but I'm a little hot on this subject at this time.

Jul 22, 2007 07:50 AM
Greg Zaccagni
The Federal Savings Bank - Wheaton, IL
Illinois Mortgage Lender

was it zig ziglar who said:

 You can have everything in life you want, if you will just help other people get what they want.

Greg Z @ www.MortgageAvisor.info

 

Aug 12, 2007 01:00 PM