As corporate trainer at my real estate company, I'm asked to make lists. Lists of what to bring to an appointment with a buyer prospect (those that we "wanna be" our clients); what things need to be done at a listing appointment; what forms must be included in a file: what equipment needs to be taken to a listing appointment; all the tasks that an agent does for a client; the steps in the transaction; and finally, the list of what lists an agent should have!
Because I'm an abstract random learner, I early learned to use lists for survival. My natural tendency to jump all around is curtailed with lists. Lists keep me on task. Lists improve my level of performance. They also help me remember what I forgot to remember.
Today's class of trainees was awarded the great privilege of listing what the fiduciary duties of an agent were. There are only six and they bear the weight of true representation for a client. Despite their recent licensing class time regarding agency, listing the fiduciary duties was a struggle for a couple. We use the anachronym "el-see-dora" to jog memory:
- L oyalty
- C onfidentiality
- D isclosure
- O bedience
- R easonable care
- A ccounting
Every licensed agent owes their client the duties listed above. Is your agent even explaining them to you? If not, ask your agent to explain agency. Remember the agent is supposed to represent you, negotiate for you as though their life depends on it, and give you each of the duties listed above.
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