Real Estate Investing Information » Real Estate Broker Responsibility

Real Estate Broker Responsibility

More often then not, the keyword in the real estate industry is "put on the market" rather than "represent". For too many brokers and agents appear to have an undeclared mission statement that reflects "salesmanship" rather than "representation" of Seller or Buyer. The California Department of Real Estate innocently reinforces this by identifying the licensee as a "Broker" or a "Salesperson". A "Salesperson" be supposed to be more rightly identified as a "Broker Associate" or "Broker Affiliate" to more properly make out the responsibility inherent in this task.

First and foremost, ethically and legally, a real estate agent is supposed to be continuously conscious of his fiduciary responsibility to the client. "Fiduciary" simply means handling funds on behalf of another. Primary thing to that definition is the element of trust which is as much a responsibility, as it is a freedom. Real estate breeds the most litigation of any industry, a fact that could very simple be a thing of the past if more agents would faithfully carry out their fiduciary responsibility to their clients. It would reduce legal action significantly.

There is an saying in this industry that says, "20% of all agents make 80% of all sales". Is this a measure of success? Perhaps, but an improved measure of success would be one that measures temperament and responsible representation.