Ethics
As someone who left corporate life because of ethical issues, I found it refreshing to find that the NAR had a code of ethics. Unfortunately even in this industry there are still a lot of people who do not understand what this means. One of the items in particular is Standard of Practice 1-9 and the obligation of REALTORS® to preserve confidential information.
One of my favorite people to quote is Abraham Lincoln, who once said, “Better to remain silent and be thought a fool than to speak and to remove all doubt.” More agents should take this to heart. Working in an office with another 140 agents, you just
never know who is going to bring you and your client your next potential buyer. Why on earth would you ever discuss your client’s personal information to any other agent.
Cause
I have personally heard agents talk about how anxious their clients are to move out of their homes they would accept a much lower offer. If your clients had said go ahead and let people know that you will take an offer maybe talking about it like that is OK. However, wouldn’t you provide a better strategy than just talking about it casually? More likely the clients did not want this information getting out.
Result
How much of an advantage would I have now when I bring in my buyers and they want to make an offer on that house? I did nothing wrong. I have a buyer’s agreement already in place. This information was distributed because an agent decided to talk about a client’s information in public. This is just unacceptable behavior. It goes against our code of ethics and it could easily cost the seller’s a lot of lost money. The client is starting off at a huge disadvantage because their agent made a public statement about the client’s motivation.
Solution
Next time you are having coffee, lunch or a public conversation, especially in your office and before you open your mouth to remove all doubt, remember it is better to remain silent. We all like to talk about our day and sometimes even our clients. Personal and confidential information has no business being discussed outside of your clients any time before, during or after the sale. Confidentiality does not end when your relationship with the client does.
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