I enjoyed Tony's post today on parctices that show a lack of client concideration.
I know that we have all encountered a agent who is Failing to answer incoming calls concerning the property immediately or in a timely manner.
Do I represent my client or my pocketbook?
Representation is the one and only concern when a Realtor works with a buyer or seller, period! Most Realtors understand the incredible responsibility taken on when representing another in what may well be the largest transaction of their life. However there are certain practices that may be interpreted as representing their own pocketbook far ahead of representing the best interest of their client. Keep in mind that a Realtor has a Fiduciary relationship and responsibility to those they represent. A Fiduciary is, in the eyes of the law, the highest degree of trust, honesty and integrity that can be given from one person to another.
Following are the practices that show a lack of client consideration, in my opinion:
· Failure to promote a property online in order for the public to know the location, price, size and address.
· Failing to have someone immediately respond to an inquiry from a potential buyer or seller. Many agencies demand that these calls be handled by the person with the listing.
· Failing to install a universal lockbox & a combo lock box in order to have the property shown by all Realtors local or not.
· Failing to answer incoming calls concerning the property immediately or in a timely manner.
· Failing to allow the property to be shown. Homes that can’t be shown shouldn’t be listed.
· Failing to offer a fair commission. This practice shows lack of the ability to educate the public on the importance of bringing in the maximum amount of qualified and motivated buyers.
· Failing to list a home at or very close to fair market value. This practice leads to a stale listing that most likely won’t sell or will sell far below fair market value.
· Failing to list the home in the local MLS system. This is a mistake often made by out of area Realtors that are unaware that their MLS system is different than the local MLS.
· Failing to put a sign on the property. The number one selling tool for a home is the sign. It is the Realtors responsibility to communicate and educate their client.
· Failing to share a listings in the MLS. A Realtor may list a home and install a sign but exclude the home from the MLS. This is a self-serving practice and should be avoided for the benefit of the seller.
Can you think of others?
Your Friend & Realtor,