A real estate agent holds a special place in the real estate transaction. It is a position that requires honesty, knowledge, trustworthiness and diligence. These are necessary because the agent is often serving as a valued advisor and consultant in what is probably the largest financial transaction of their clients lives.
Fortunately, there are many systems in place to help the public be somewhat comfortable with the ability of real estate agents to deliver the promised services in a professional and efficient manner. First and foremost of these assurances is that all states require that real estate agents be licensed. Such licensee involves initial and continual education and, at least at the beginning of the licensing procedure, proof of a level of knowledge through a testing process. Maintenance of the license is closely regulated by the various state real estate departments through a series of rules and regulations that govern the ways and means with which real estate agents conduct their businesses. These departments also incorporate investigation and complaint procedures to further enhance the quality of the delivery of real estate services in their jurisdiction.
As a complement to the legal requirement of licensing, the National Association of Realtors and its affiliated state and local organizations, also known as real estate boards, serve to foster a higher level of professionalism and ethics by their members. This is accomplished through incorporation of a Code of Ethics and Standards to be adhered to by real estate agents in order to maintain their membership in the organization and to be able to use the designation Realtor in advertising and promotion. The Code of Ethics contains 85 Standards of Practice that specifically spell out Realtors duties to clients and customers, duties to the public and duties to other Realtors. The various boards and associations also provide ongoing education and training for their members and offer a number of advanced certifications to further demonstrate an individual agents dedication and commitment to additional levels of training and professionalism.
In addition to the legal requirements of licensee and the professionalism and ethical principles supported and promoted by the Boards of Realtors, there is a vast body of law governing the agency relationship between real estate agents and their clients and customers. At the heart of this body of law is the doctrine of Fiduciary Responsibility. There are six tenets of this doctrine:
Obedience
The agent must obey the clients instructions, provided such instructions are not illegal and are in accordance with the contract.
Loyalty
the agent must be loyal and keep the clients best interests ahead of any other party, including their own interests.
Disclosure
The agent has a responsibility to disclose any material facts that might, if known by a buyer or seller, cause them to change their mind about the purchase. Disclosure would also be any knowledge the agent might have which would benefit their client.
Confidentiality
The agent does not disclose anything they know about the clients motivations, personal affairs, finances and business.
Reasonable Care
The agent is expected to have a certain level of knowledge and be able to advise and guide their client through the process without harm.
It goes without saying that even with the knowledge that a real estate agent has a license and is a member of a Board of Realtors and may have advanced certification, care must be taken in selecting the professional to assist in the complicated transaction involved in real estate purchase and sale.
Nancy Niblett is a highly successful Real Estate Agent specializing in the Chandler area. She credits her success to hard work, integrity and honesty. Clients continue to refer her over and over again. Nancy is one of the most successful award-winning agents and currently with West USA Revelation. She was awarded the Silver Top Producing individual agent in 2004, Double Gold individual in 2005 and the annual Spirit and Integrity award in 2005 and 2006. Her most cherished moment was bestowed on her in 2006, the Regional "Culture" award, which is the highest attainable honor given. homesgilbertaz.com Gilbert Property Listings or homesintempeaz.com Tempe Property Listings
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