The Duties of an Agent
To remember the responsibilities of an agent, you should think of an OLD CAR… No, not a multi-ton paperweight, rather as an acronym:
These are the six fiduciary responsibilities all agents must exhibit towards their clients. In my profession, I see agents break these rules all the time. The waters are muddled so my goal with this is to provide some clarity on what these terms mean and also to arm you to anticipate and prevent shady dealings when buying a home.
|Obedient||Your agent must do what you tell them to do. Our job is to provide our insights, however you are ultimately in the drivers seat|
|Loyal||Your agent must put your interests above their own interests.|
|Disclosure||Your realtor must provide you with all the information that would benefit you in a negotiation or making an educated decision.|
|Confidential||Your agent must keep your information private.|
|(Financial) Accountability||Your agent must account for all funds entrusted to him/her.|
|Reasonable Care||Your agent must be skilled enough to conduct their affairs on your behalf.|
All in all, who you work with matters! If you find that your agent exhibits these qualities, stick with them and treat them kindly.