Thursday, October 26, 2023 / by Tim Elder
The Four Fundamental Duties an Agent Owes to a Client
In the world of real estate, the relationship between an agent and their client is built on trust, professionalism, and a set of ethical obligations. For an agent to effectively represent a client, they must uphold certain fundamental duties. These duties are paramount to ensuring that the client's best interests are always at the forefront. This article delves into the four core duties an agent owes to a client: obedience, loyalty, care, and accounting.
1. Obedience
When a client provides a lawful and reasonable instruction, it's the duty of the agent to obey. This obligation ensures that the client, who is ultimately the decision-maker, has their directives executed accurately by their representative.
Example: If a seller instructs their agent to list their property at a specific price, even if the agent disagrees with that price, the agent should respect and follow the client's wishes, so long as it doesn’t contravene any laws or ethical obligations.
2. Loyalty ...
1. Obedience
When a client provides a lawful and reasonable instruction, it's the duty of the agent to obey. This obligation ensures that the client, who is ultimately the decision-maker, has their directives executed accurately by their representative.
Example: If a seller instructs their agent to list their property at a specific price, even if the agent disagrees with that price, the agent should respect and follow the client's wishes, so long as it doesn’t contravene any laws or ethical obligations.
2. Loyalty ...