Agents Unknowingly in Violation of Ethics | Real Estate
This is a warning to Agents and a reminder to the public to be careful who you chose to represent you in a real estate transaction. I have recently heard some stories that have taken place locally and want to send this reminder to everyone. It is a violation of the ethical requirement for licensure in Georgia to represent a buyer or seller in a matter that the Agent is unfamilliar with.
The REALTOR® Code of Ethics - Article 1 starts: "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client."
To properly protect and promote the interests of our clients in this market Agents need to be in full understanding of short sales, foreclosures and expectation setting. A REALTOR® that has never had short sale training is in violation of their code of ethics when representing an individual in that scenario because they can not properly inform their client of the expectations or protections available to them. Also, they do not yet posess the knowledge required to write a contract for a short sale in the best interests of their client.
Our job first and foremost is to protect our clients best interests when purchasing a home. It is unfortunate that most REALTORS® do not realize they are in violation of their ethics code by structuring a short sale contract similar to every regular contract they have written for the past 15 to 30 years. Sadly they risk losing their license without knowing it.
For questions or concerns I can be reached at firstname.lastname@example.org.