GENERAL INFORMATION

In addition to the Code of Ethics established in 1913, the best role is to be a conduit of information to assist buyer's and seller's in achieving the best outcome in purchasing or selling their property. Realtor's are not the decision makers as the buyer's and seller's decide what to offer and what to accept. A Realtor is there to guide them with any and all relevant information to help the buyer or seller make the best decisions in the current market. A Realtor cannot predict the future with absolute certainty so promising a certain percentage gain or guaranteeing an equity position would not be in the best interests for any party.

As a newly licensed realtor back in 2008, I participated in a round-table discussion with experienced realtors and the managing broker. The topic was about advising a buyer how much to offer. The market was in a correction and nobody wanted to overpay but at the same time, buyers didn't want to miss on a home they really wanted.

As explained by the broker: "as a Realtor, if you tell your buyer to offer $500,000 for the home and the buyer purchases the home for the $500,000 who later talks to a neighbor who tells the new owners - "that seller would have given it away for $450,000"!  You, the realtor made that decision for the buyer and they may become upset. If you tell the buyers they should be able to get the house for $500,000 and it sells to another party for $505,000, again you made this decision for the buyer as they may have been prepared to pay more than the $505,000 that the home sold for." Giving an absolute number to a buyer or seller is not a good practice as it becomes your decision and not the buyers or sellers. The final decisions should always be the buyer's or sellers.

There are endless articles, opinions, best practice methods, advice for buying and selling real estate. Will add to this page in the future...