DUTIES TO CLIENTS

 

 

1.      Be absolutely honest, truthful, faithful and efficient.  Ever bear in mind that the broker is an employee, that his client is his employer and is entitled to the best service the real estate men can give – his information, talent, time, services, loyalty, confidence and fidelity.

2.      Be conservative in giving advice and, where not reasonably well posted, refrain from giving opinion of value.

3.      Inspect client’s property, if possible, before offering it for sale, and always inform the buyer if that has not been done. 

4.      Do not depreciate the price of property unless the price is too high; ask that the price be reasonable, and tell the owner that it must be so if he expects his agent to make an attempt to sell it. 

5.      Obtain sole agency, in writing, if it is property worthy of a special effort to sell. 

6.      Advocate that the real consideration be shown in a deed to property, or one dollar and other valuable considerations.

7.      Do not give special information to inquiries over the telephone, or otherwise, unless they are willing to give their names and addresses.  Let them understand that the broker deals in the open, and expects them to do likewise. 

 

 

 

8.      An agent should not ask for a net price on property, unless he intends to buy it himself, and so notifies his client. 

 

9.      He should request his client not to discuss price with the prospective buyer, but persuade his client to refer the matter to the agent, - thus strengthening the agent’s position with the buyer, and thus helping the agent to make a better deal for his client. 

 

10.  An agent should always exact the regular real estate commission of the Association of which he is a member, and always give his client to understand at the beginning that he is entitled to such and expects it. 

 

 

 

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DUTIES TO OTHER BROKERS

 

 

 

1.      An agent should respect the listings of his brother agent, and co-operate with him to sell, - provided the other agent has the most suitable place. 

 

 

 

2.      Advise an owner to renew a selling contract with some other agent, rather than solicit the agency, provided the other agent has made a reasonable attempt to sell the property during the life of his contract. 

 

 

 

3.      Always be loyal, square, frank and earnest in the matters that require the co-operation of brokers, and always speak kindly of competitors, refusing to pass judgment on others from hearsay evidence. 

 

 

 

4.      Advertise nothing but facts, and be careful not to criticize by any method a competitor’s proposition. 

 

 

 

5.      Give an honest opinion concerning a competitor’s proposition when asked to do so by a prospective purchaser, even though such opinion will result in a sale by the competitor. 

 

 

 

6.      Refuse to put a “For Sale” or “For Rent” sign on property on which a competitor already has his sign, provided the placing of such sign was through the authorization of the owner. 

 

 

 

7.      If an agent can not efficiently handle a proposition, he should refer the matter to some competitor who can. 

 

 

 

8.      Solicit co-operation of other members of the Association in selling Sole Agency listings, unless there is a deal on, or there is some particular buyer in sight, to whom a sale is expected, and always be ready and willing to divide the regular commission equally with any member of the Association who can produce a buyer for any client. 

 

 

 

9.      Invoke friendly arbitrations by the Real Estate Association rather than through the courts of law, in settling differences with other agents. 

 

 

 

10.  Do not disregard the rights of other agents.  Never refuse to work through an owner’s regular agent, or refuse to try to sell his property to a live buyer unless handling the entire deal and getting all the commission. 

 

 

 

11.  A broker will not put his name in the newspapers in connection with a deal unless really representing a least one of the parties and receiving a part of the commission, for such publicity is a sham, and the result is to the disadvantage of all. 

 

 

 

12.  When a sale or exchange is handled by two agents, each agent shall be given due credit in the report of such sale or exchange. 

 

 

 

Do not relay property, - i.e., do not submit to one agent or broker that which is obtained from another unless the case be exceptional, in which case the third agent should know that the property is not obtained direct.  A broker who relays represents neither side, and is not entitled to the same consideration as either of the other agents