The Three Rs of Real Estate Agency
In the real estate world, consumers may choose to be a customer or a client. A customer expects assistance. A client expects representation. Representation is one of the Three Rs of Real Estate Agency.
- Representation is a foundation principle of Agency.
- Respect for the client's right to full representation. Full representation is just that, full, as in "undivided loyalty". No weasel words as in "Limited Dual Agency". Fully represented clients have every right to refuse consent to the limited representation of double agency.
- Responsibility for protecting a client and representing a client's best interests rests with the Agency/Brokerage and flows down to include all those employed by the Agency/Brokerage.
At any time when dealing with real estate licensees consumers would be wise to ask themselves these questions and clearly know the answers.
"Who represents me?"
"Am I fully represented or not?"
"Are my rights being respected?"
"Who is responsible for protecting my interests?"
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