What Are The
Duties of an Agent?
The term REALTOR is a registered collective membership mark which may be used only by real
estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS
and subscribe to its strict code of Ethics. In
most cases, the Code of Ethics governs REALTOR behavior more strictly
than does the law.
Agents Fiduciary Duties Include...
Undivided loyalty, Full Disclosure, Obedience to lawful
instructions, Reasonable care, Confidentiality,
Accounting for all monies of the principal.
REALTORS , by virtue of their Association, have an organized network
of disseminating information about real property through the Multiple Listing
Service (MLS). As a compliment to the MLS, REALTORS have a Lockbox
System which allows them and buyers maximum access to listed real property
while ensuring maximum security for the owners. Further more, REALTORS
are more in tune with recent changes in development and zoning issues, disclosure,
agency and fair housing laws, regulatory issues, financing options, and
much more.
There is a Fiduciary Relationship between the Realtor who agrees to
act as an Agent and the consumer, who is the Principal. Agency Agreements
must be in writing and signed by the parties. The agreements must specify
the agents compensation and describe the parties' rights and duties. For
all of these reasons and many others, it always pays to work with a Realtor.
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