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Fred Griffin Tallahass...
stacey wuyts - simple. Your client's interest comes first. And many agents forget this.
Tony and Suzanne Marri...
Yes, and I just answered it. Again. See an earlier post. Good luck with your school.
Ignoring your responsibilities to your client, whether buyer or seller
None if you always put the best interest of the client first!
Jeez that's an open ended question short answer is your DUTY is first to your clients... remember the difference between clients and customers
There are no problems.
That question was asked just a few minutes ago.
LOL! When the other agent doesn't know where their relationship stops.
Agency laws are different state to state. Here in Florida we have Single Agency, Transaction Agency and No Broker or Representation Agency.
The transaction agency allows us to represent both parties in a deal, owing fiduciary duties to neither, but rather representing the transaction. We still have to deal fairly and honestly with each party, and keep confidential information such as how much they would offer or how much a seller would accept from the other party.
Single Agency is more traditional, where an agent(and Brokerage) represent one side of the transaction. In my opinion, this is the cleanest form of relationship as you are clearly on the side of the seller or buyer.
No Rep is exactly that, you don't represent the party at all, you're just facilitating paperwork for a fee. You might use this if a FSBO asks you to help them with the sale when they have a buyer already, or if you do a flat fee listing.
Chapter 1, Agency
Depending on your state, the state legislature. They pass the laws they don't understand! It is downhill from there. Most who teach it are without a clue!
stacey wuyts None if properly disclosed.
we must get along with people
Disclosure matters. Always.
no difficulties should arise when the agent and the client each understand and exercise the meaning of agency....
Praful Thakkar nailed this one!
AND I REPEAT FROM A FEW MINUTES AGO:
Difficulties arise because agency is not well understood by many agent and not well explained to their clients. Beyond that, your question is way too broad based. Why not write an entire post on this subject?
You owe your allegiance to your buyer or seller. No problems!
I never look for difficulties.
Many difficulties can arise. Reading court cases for the relevant juridiction can help you understand some of the issues.
The answer to this varies tremendously from one state to another. Your course materials should include the answers that apply to the state you'll be working in.
stacey wuyts Clients' interest is your primary responsibility.
Not many in my life
Always protect your client's best interest and you will be OK.
AMEN to what Carol Williams said - that's it in a nutshell!
I haven't had any problems.
It is common law not statute law.