I am very glad that Barb Szabo started the conversation about the Consumers guide to agency relationship. When Ohio adopted this rule many agents in Ohio were releived, as previously we were obligated to sign the Agency disclosure form with our potential clients. Agency Disclosure contains more strong language about representation which many clients considered as obligation to be represented by this particular agent.
My point is that obligation to review the Consumers guide to agency with the potential client may be a big opportunity for Real Estate agents to present our services, advantages and professional principles, and eventually build a strong, healthy, professional agent-client relationship with our clients. It also helps to avoid any further confusions, disappointments and liability.
First of all, Consumers Guide to Agency Relationship is the summary of the Real Estate company's policy on agency. Not all Real Estate companies are created equal. Consumers guide is not the same form for each Real Estate company! Each brokerage has its own policy and it is important for the consumers to know the details. The best way is to review the Consumers guide to agency relationship with your agent and ask the questions if you have some.
Dear agents! That's an excellent chance to discuss with your client the advantages of working with you and your broker. That's a very good time to present your Unique Value Proposition to potential client. That's why it's smart to make a discussion of Consumers guide to agency relationship a part of listing presentation or Exclusive Right to represent a buyer presentation.
I think, conversation with potential client about the Consumers Guide to agency relationship is a very good starter because it should happen at the point where the potential buyers or sellers decide whether do or do not disclose confidential information to this agent. Real Estate agents know that confidentiality is the only fiduciary duty which stays with us forever, no matter did our agency relationship with the client end by sale or not.
If you are not comfortable with me Mr.Buyer or Mrs. Seller, I would rather NOT receive any confidential information from you! Agency relationships start not at the point when you sign the Consumers guide to agency. It starts when you tell me about your financial situation or disclose any other confidential infromation.
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Svetlana,
Would you be able to post the Ohio version?
We have a similar document in Ontario, but I'm not really very happy with it.
Thanks!
Brian Madigan
Brian - Ohio version can be found here: http://www.ohioassociationofrealtors.org/. You should go to Legal - Agency law information in the top menu. There is plenty of information on agency law and samples of different varietes of Consumers guide to agency depending on what police the company has. Thank you for commenting.
Svetlana, glad you brought up this important issue. Yes it's important to educate our clients and respect their wishes. Sometimes I think we don't do enough communicating with them, especially up front, and yet it's so important!
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Regina P. Brown
Svetlana, Thanks for the mention in your post! As you know, I could not agree with you more!
Hi Svetlana, we have different agency relationships in Florida, but it appears no one is really using them now that we have a preemptive transaction agent assumed by Florida statute. Even before, as much as I tried to explain the relationships, it was difficult for many to understand.
Regina - thank you for inviting me to your group. Almost all new agents feel uncomfortable with agency issues, especially when it's necessary to ask new customers to sign the Consumers guide or Agency disclosure. Interesting but even experienced agents tend to avoid this or make it look like a formality. However, it's a good chance to set up an adequate communication with the customers.
Barb - That's a pleasure. Thanks for commenting.
Gabe - That's interesting that just few agents are using any other agency options rather than preemptive transaction agency. Do you still have agency disclosures or something like Consumers guide to agency in Florida?
You are right - it's hard for many to understand the complicated agency law. However if we explain clearly people understand better. Thank you for stopping by and for your valuable comment.
Hi Svetlana;
Great Post! I do appreciate this information, I thank you!
Anthony