"Ask a BIC"

The Importance of Education

2010-05-11T10:01:00.002-04:00

You're never too old to learn. That's probably the simplest, easiest way to put it.

In this profession, knowledge is key, especially with today's consumers. The buyer/seller of today has done their research on the internet. Not just through REALTOR.com and associated sites, but through Facebook and MySpace as well. They may not have learned in the formal sense, but they have learned and shared with and through their friends.

If you belong to a franchise, use their information. For instance, the Century 21 Learning Center is just packed with free, online instruction. There are self-paced classes as well as virtual, live classes.

If you don't have tools like this at your disposal, look to REALTOR.com. Odds are if you run a search for what you need assistance with, you will find it! SCAR and NCAR are also some great sites for the latest and best information.

Happy learning!

Contacting others clients/customers

2009-08-20T05:15:00.002-04:00

Hey, Russ-I've had a problem recently that I was wondering if you could help with.

A "competitor" out of the western part of the state seems to be contacting my sellers and trying to persuade them to list with him. I've talked to other friends in my farm area and he is apparently not contacting everyone, just those that have their homes listed.

Isn't this wrong? Can you help?

Dear Wronged:

Believe it or not, I had the same problem when my house was recently on the market and I wonder if it was the same "competitor." If it is, unfortunately, there is nothing you can do about it, as this "competitor" is not a REALTOR.

For REALTORs, the Code of Ethics prohibits contacting anothers' exclusive sellers, if they are knowingly targeting those with exclusive relationships. For instance, if another REALTOR is simply going through the MLS and then contacting sellers, they would clearly be in violation.

However, since this other party is not a REALTOR, they obviously do not have to abide by the Code. Furthermore, the license laws do not prohibit this type of activity.

Wrong, no. Immoral, perhaps. Again, the Code and the Golden Rule are what set REALTORs apart...

The NAR and NCAR are always trying to stress the differences in dealing with a REALTOR but it's also up to each and every one of us to help educate the public. Make sure all of your buyers and sellers know the difference between a licensee and a REALTOR!

Russ

Signage

2009-08-05T10:16:00.002-04:00

Here is another email that I just received this week, along with my reply:

Russ,

I recently noticed a sign on a property in my market area that is for a company that is no longer in business. The property is in MLS with the agents that now belong to another company.What's going on with that?

This is another interesting item. Once a company goes out of business, the listing agreement for that property "dies" as well. If the same agents are marketing the property, they should have changed the signage along with getting the new listing agreement. (The listing agreement belonged to the brokerage, not the agents).

Article 12 of the Code of Ethics deals with portraying a "true picture" in advertising, marketing, etc., which this signage is NOT doing.

In addition, I don't know why you would want your name associated with the old company, along with the old phone numbers!

Code of Ethics

2009-07-18T13:52:00.002-04:00

Do you think all REALTORS are adhering to the Code? Send me your email about how/what is being violated and I'll respond. All emails will be treated as confidential and I will never reveal your name.

You can also post anonymously....

Confidentiality

2009-07-16T10:04:00.003-04:00

Here is an email that I recently received from an agent along with my reply:

Dear Russ:

I had a neighbor's house listed for 6 months before I lost the listing to a competitor. I now have a couple that are interested in the house. What exactly can I disclose and what can't I?

Dear confused:

You do have quite the dilemma! According to our duties outlined by the NC Real Estate Commission, if the buyers you have are truly "yours" and have signed an exclusive buyer's agency contract with you, you owe your duties to them and them alone. The state says that your (confidentiality) duties to the seller ended along with the listing agreement.

However, since you are a REALTOR, you have a different set of rules that you must follow. According to the Code of Ethics, you must keep all confidential information confidential, FOREVER.

This is one of those situations where the Code of Ethics is much more strict than NC rules.

My advice is simple: Contact the legal division of NCAR or your own attorney. In the meantime, you should be thrilled that you have buyers!!!

-Russ-