WRAR DR - Brokerage Relationships
-
Upload
jody-obrien -
Category
Real Estate
-
view
53 -
download
0
description
Transcript of WRAR DR - Brokerage Relationships
2/2/2014
1
2/2/2014
2
AgencyRelationships
2/2/2014
3
TypesofAgency
SellerAgency TraditionalAgency DesignatedAgency Sub‐Agency
ConsentfromSeller SpecificLanguage
BuyerAgency TraditionalAgency DesignatedAgency
2/2/2014
4
Traditional Disclosed Dual AgencySingle Licensee
Two Agents
Designated Disclosed Dual AgencySingle Licensee
TypesofAgency
2/2/2014
5
TypesofAgency
Facilitation BuyerorSeller Dutytoaccountability Confidentiality“unlessotherwiseagreed”
2/2/2014
6
Ifyouthought….
Facilitation=SomeonewhodoesLESSWORKduringthetransactionIncreaseSellerliabilityIsnotlicensed
Youarewrong!
2/2/2014
7
Facilitation
Maybeappropriate:WhenyouragentdoesnotknowtheconsumerWhenabuyerwillnotenterintoawrittenbuyeragencyagreementWhenyoutimeanddutiesmaybelimitede.g.wanttoputinoneofferononehouse
Whenyoualreadyrepresentanotherparty
2/2/2014
8
Disclosure
2/2/2014
9
Disclosures
Agencydisclosure254CMR3:00(13)a.Agencydisclosureforrealestateagentsrepresentingthesellerorbuyer.Arealestatebrokerorsalespersonshallprovidetoaprospectivepurchaserorsellerofrealestateanoticedevelopedandapprovedbytheboardwhichclearlydisclosestherelationshipofthebrokerorsalespersonwiththeprospectivepurchaserorselleroftherealestate.Thenotice,developedbytheBoard,shallbeprovidedtoaprospectivepurchaserorselleratthetimeofthefirstpersonalmeetingbetweentheprospectivepurchaserorsellerandthebrokerorsalespersonforthepurposeofdiscussingaspecificproperty.
2/2/2014
10
AnAgent’sViewofDisclosure
AnytimeafterImeetyoubutbeforeyouwriteanofferAformwheretheconsumerchosestherelationshipAcreationofbuyeragencyOnlybuyersAlwaysandforever
2/2/2014
11
2010AgencyDisclosureInvestigation
2014Anotherinvestigation?
Disclosures
2/2/2014
12
CurrentAgencyDisclosureForm
DisclosuretoaBuyerofSellerAgency
2/2/2014
13
Agency disclosure to other agents
According to the REALTOR Code of Ethics, it is the duty of an agent to disclose to another agent their relationship with the buyer
2/2/2014
14
ConsentandNotice
DualAgencyConsent
Specificlanguage
Notice
DesignatedAgencyConsent
SpecificLanguage
Notice
2/2/2014
15
Events
2/2/2014
16
Teams
Whatisthedivisionofduties?Dotheyinteractwiththeconsumer?Whatisthephysicalstructure?Whatistheteamleadersphilosophy?Whatdoesitmeantorepresentdifferentparties?
2/2/2014
17
OpenHouseWhoarethey?ListingAgentNonListingAgentsTeamMembers
DutiesandresponsibilitiesConfidentialityProtectingthepropertySellingorprospecting
MarketingvsAgencyAllagentscanparticipateinmarketingtheproperty
2/2/2014
18
Walk‐Ins
Whodoyoualreadyrepresent?
Doyouhaveconsentfromyourcurrentclient?
DatingorMarriage?
2/2/2014
19
Me,MyselfandI
SingleAgentDualAgencyInformedConsent‐ a person’s approval or permission
for an action to occur that is based on full disclosure of facts needed to make an intelligent decision. To enable the client to make an intelligent decision such facts and information should include alternatives from which to chose knowledge of liability, limitations of choices.
2/2/2014
20
Was there a client first?
Double Dipping
Fiduciary Duties
Me,MyselfandI
2/2/2014
21
OffersandBeyond
2/2/2014
22
PriortoOffer
Doesyourclientknowwhorepresentswhom?
Doesyourclientknoweverythingaboutcompensation?
Doesyourclientknoweverythingyouknow?
Doesyourclientknowif,whenandwhatyoumustkeep
confidential?
Doesyourclientknowwhatisnotconfidentialandby
whom?
2/2/2014
23
PriortoOffer
Doesyouragentknowthedifferencebetween:
Dutytodiscover
Dutytodisclose
Sourceandresource
2/2/2014
24
DuringtheOffer
ActingtimelyActinglawfullyOfferpresentationFunds
FinancialqualificationsPresentationofOffer
2/2/2014
25
OffertoClose
ActingTimelyMcCarthyvTobinOwenvKessler
ContingenciesReleaseofcontractEscrowFunds
2/2/2014
26
Office policy and education
I. Company Policy – Your company should have a clear and defined policy on agency.
II. Encourage/require/offer an agency training course –ABR
SRS
2/2/2014
27
JodyO’BrienTheRE/EducationCompany
CommittedtoProfessionalisminRealEstatethroughEducation
Blogwww.reeducator.wordpress.comPresentationwww.slideshare.net/ReEducationCompanySocialMediawww.twitter.com/reeducatorwww.youtube.com/msreeducatorwww.facebook.com/reeducatorwww.linkedin.com/in/reeductor
ThankyouforAttending