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REAL ETHICS by Steve Stazel | May
2005 | Index of all Real Ethics columns
Do your sellers give away their "secrets"?
As listing brokers, we have an obligation to help our sellers get the best price and terms possible. How much counseling do you do with your sellers concerning how to respond to questions they may be asked by brokers showing their property?
Standard of Practice 1-6 of the National Association of REALTORS® Code of Ethics states in part that when entering into listing contracts, REALTORS® must advise sellers/landlords of the fact that buyers/tenant agents or brokers, even if compensated by listing brokers, or by sellers/landlords, may represent the interests of buyers/tenants....
When taking a listing, do you make sure the sellers know that the cooperating broker showing their property does NOT represent them? Do your sellers know that at best, the showing broker is a neutral party? What information should your seller NOT discuss with a showing broker? Does your seller know how to respond to questions that may be asked of them by buyer brokers?
If the sellers are in dire straits; maybe they should be counseled not to discuss their reason for selling. Do all of your sellers know how to respond to questions that may be asked of them?
Each month, the Aurora Association of REALTORSŪ Web site features Real Ethics,
a column by Steve Stazel devoted to explaining Code of
Ethics issues for members. A REALTORŪ since 1974, Stazel is a Professional Standards
instructor and senior Ethics
instructor for the Colorado Association of REALTORSŪ.
If you have an ethical concern or an issue you would like
to see addressed, please call Stazel at (303) 773-3333 or e-mail him at
stazels@msn.com. The comments of this article reflect the understanding and
opinions of the author and do not represent an official expression of policy by the National Association
of REALTORSŪ.
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