One of the ways we can best explain (and remember) what we are obligated to follow when dealing with clients and customers is taught to us using the term OLDCAR. Each letter represents a different obligation and this 6 part series, I am going to break down each on. This week we focus on Loyalty. There is an overview at Episode 63
As a real estate agent, I am obligated to treat you a certain way….if you are my client, a customer (the other side of the deal) or just a general member of the public. Real estate is a roller coaster ride of emotions. With this many moving parts, as professional in the field has a lot to consider and a strict code we must adhere to.
As your agent, I must be loyal to you and your real estate needs. I should be focused on your needs as it applies to the world of real estate. My obligation is insure that my clients best interest are protected.
An example of this would be make sure the work I am doing is benefitting you. If I know the other side should have asked for information or for something to be scheduled but hasn’t, it is not my job to remind the other side to ask or take care of a task if it doesn’t directly benefit you.
As a sellers agent, I should not ask or remind the buyers agent to submit their due diligence request (unless my clients ask me to do that….see EP79 on OBEDIENCE). As a seller we don’t typically want to offer to make any additional repairs to the home.
It wouldn’t benefit my seller to ask the buyer to request for repairs to be completed on something we haven’t previously agreed to. By asking the buyers agent to submit the form, I have inadvertently served the buyer.
NOT SO FAST…..
This seems pretty straight forward but it can get confusing. What if I represent the seller, the buyer needs access to the home (to measure and pick paint colors) and the buyers agent is unable to do it. As a listing agent, the more the buyers begin to emotionally connect to that home, the more likely they are to close. In my opinion it benefits the seller to open the door and have the buyers begin to see “their new home” and not the sellers home.
This can be a tricky balancing act, because I have to remember who I serve as an agent and ALWAYS keep that front and center in the transaction.
More on the way
If you wanted to know more there is a TON of free content on my YouTube page and web site blog. I truly enjoy content creation, and I LOVE the teaching part of real estate. I think you will find a good deal of added value on those pages and my social media sites (I’m pretty active on Facebook…the others are a work in progress)
Be sure to like and subscribe so you can get plugged in on all things real estate. Until next time….Welcome Home!
Rose and Womble
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