Some Vancouver Realtors® don’t get it.
With each passing iteration the understanding of what agency means to Realtors® and clients alike approaches defined clarity.
As a Vancouver Realtor® there are times when you work for a Buyer, a Seller or in some circumstance for both. Each position comes with written mandates. Prior to commencing a discussion about Vancouver real estate these mandates must be discussed and acknowledgement of their understanding made in writing. It is an agreement made between your Realtor® and you as their client. The importance should not be underestimated.
The essence herein is not to labor the various aspects of agency save one – the first duty of a Vancouver Realtor® to their client.
“The Brokerage must protect the principal’s negotiating position at all times, and disclose all known facts which may affect or influence the principal’s decision.
For many, part of the glorious self promoting marketing package is that they will keep the Seller informed about what buyer’s who have viewed the subject property thought about amongst other things, its condition and/or price. This ‘seeking of opinion’ is usually completed by email or phone call to the Buyer’s agent that may include a request that goes something like this:
“So….What did your buyer think about the house?”
The problem is this. Providing any information to the Seller’s agent with regard to what the Buyer thinks stands as an absolute contradiction to the promise made by the Buyer’s agent who said and declared in writing that they will protect the principal’s negotiating position at all times.. Even the slightest hint via a response to the Seller’s agent may weaken the Buyer’s ability to negotiate suitable terms or price.
Thanks for Calling
When the Seller’s agent phones to ask what the Buyer client thought about the property the response should be instant – nothing! Acting as a Buyer’s agent is serious business and means that any response other than “thanks for your interest however, as the Buyer’s agent I have an agreement with that Buyer and I am precluded from entertaining this discussion” tears the fabric of the Buyer’s legal right to undivided loyalty.
Buying or Selling
Vancouver Buyers and Sellers undivided loyalty is one of your negotiation beans, is your Vancouver Real Estate agent spilling them?