F S BO's NO it is Not from Outer Space.

By
Real Estate Agent with McCurdy & Company Realty BK490170

 

 

F S B O ,  No, it is not something from outer space. Although it may seem that way sometimes. FSBO is shorthand for "For Sale By Owner." The term is used to identify property, usually homes, which are sold by the owner without help from a real estate agent. Typically, owners advertise their properties by means of websites, classified ads, word of mouth, and other means.

Less stress  Yea Right! One of the problems of selling a home for sale by owner is that you cannot  set your schedule. You do not know when potential buyers will be coming to check out the place, and cannot usually allot time to prepare accordingly. Are you prepared  when a prospective buyer wants to makes an offer,to make counter offer and listen to what color carpeting you home would look better with?   An agreement can difficult especially if you love your home. Realtors have a big job that involves one of the most important discussions you will ever make in your life.

 The Realtors Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.

SOME BASIC PRINCIPLES OF CODE OF ETHICS

  1. Realtors need to be formed &contribute responsibly to public affairs.
  2. Be informed to advise your clients correctly.
  3. Never use practices that damage or discredit the profession.
  4. Use  exclusive listing contracts if possible.
  5. Share your experience and expertise with other REALTORS®.
  6. Never use unfair advantage of other REALTORS®.
  7. Protect your client's interests and  be fair to all parties.
  8. NEVER exaggeration, misrepresentation, and concealment of  facts.
  9. Provide competent service.
  10. Enforcement of the Code a must.
  11. Avoid all the unauthorized practice of law.
  12. Escrow accounts must be entrusted funds in a special account.
  13. Use youe full name in your advertising.
  14. All residential transactional details should be in writing.
  1. REALTORS® must disclose in writing whom they are representing as an agent in the transaction. Parties to a transaction must be told what their agency relationship is to the REALTOR®.
  2. Definitions, terminology and presumed agency relationships vary from province to province. Most jurisdictions have their own forms for complying with disclosure requirements, which have been drafted to accommodate agency relationships as they exist in your province or territory.
  3. All financial arrangements between REALTORS® and others (e.g. referral fees, compensation from more than one party, rebates or profits on expenditures) must be fully disclosed to clients;
  4. REALTORS® cannot acquire an interest in property (either directly or indirectly) without disclosing the fact that they are real estate professionals;
  5. REALTORS® cannot use the terms of an agreement of purchase and sale to negotiate commission.

A REALTOR®'s ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public. ThisCode has been amended as deemed necessary to reflect changes in the real estate marketplace,to include the needs of public and values of society,  many  years, through a variety of updates.

Realtor's work very hard . Choosing the right Realtor is as important as choosing the right heart surgeon. So do your homework prior to hiring any one to assist you in such an important decision as purchasing or selling your home.

Lee Gerhard

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Rainer
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Daniel Lowery
1st Choice Real Estate - Jefferson City, MO
e-PRO, Broker - Owner
Lee Thank you for posting this blog, I thought it was great and I really enjoyed reading it, Thank you again.
Mar 25, 2007 02:46 PM #1
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Rainer
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Laveta (Lee) Gerhard

Lee Gerhard is a House "SOLD" Name
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