With endless dorky bus shelter photos, useless flyers in your mailbox, and claims to be the top 1% of this or that…it all adds up to a confusing landscape of choices and an industry with a less-than-positive stigma. How are you supposed chose who to trust? Who should advise and protect you during the biggest purchase or sale of your life?
I used to always answer by suggesting someone you connect with, trust, and have good communication with, and while these are REALLY important there is some more information most don’t think about and consider as they go through the process of finding/working with a Realtor.
Here is what you NEED to know and what your agent is licensed to provide:
1. Fiduciary (this is not the brand of fancy slip on shoes they wear)
Don’t let this word put you to sleep, this is extremely important. This is number one on the list because this is the foundation of your professional relationship. This responsibility is a legal term that describes the highest standard of care in law and means that your agent must be loyal to YOU. Have no conflict between you. And, must not profit unless disclosed and agreed to by you.
The above really describes the highest form of integrity. It should go without saying but other professions like lawyers have to follow the same standards and whoever you hire must too! Without this level of care they are in fact a ‘Fi-douch’ and you should get as far away as possible.
2. Loyalty (this one is simple)
Your interest MUST be put first. Your agent must serve your interest at all times, not their own.
3. No Conflict of Interest
Again, this is common sense having stated the above 2 points but just in case… for example, ask yourself (and your agent) how they can serve your interest fully if they are dealing with someone else in the deal? The whole idea of double ending a deal has always confused me…I want an agent who is fighting for me and only me!
Your agent is the bodyguard of your information and motivation! This includes never sharing why you want to buy or sell, how much your budget is, anything to do with your personal situation, or even any specific terms and conditions. Some people throw this info around and it’s wrong without you authorizing it.
5. Full Disclosure of Information (I love this one!)
Your agent MUST share any and all relevant information with you. Anything that would affect you obtaining the property at the lowest price and most favourable terms!
6. Skill (should be looking for ‘superior’ skill)
You are paying a lot of money for this service and you should expect some kick ass talent when it comes to writing contracts, research, and negotiations.
I know that was a bit dry and boring but I want you to know what you should be getting from a top professional. These are the cornerstones of what you can expect and also keeps your agent accountable. There are some amazing people in the industry and you should be working with one of those. If you need a referral of any kind let me know. I have connections all across Canada and the most of the US so feel free to reach out. I’m obsessed with integrity, so of course my team in Greater Vancouver all clear that bar with ease. I hope the team you chose does too!