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AgencyRelationships

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TypesofAgency

SellerAgency TraditionalAgency DesignatedAgency Sub‐Agency

ConsentfromSeller SpecificLanguage

BuyerAgency TraditionalAgency DesignatedAgency

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Traditional Disclosed Dual AgencySingle Licensee

Two Agents

Designated Disclosed Dual AgencySingle Licensee

TypesofAgency

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TypesofAgency

Facilitation BuyerorSeller Dutytoaccountability Confidentiality“unlessotherwiseagreed”

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Ifyouthought….

Facilitation=SomeonewhodoesLESSWORKduringthetransactionIncreaseSellerliabilityIsnotlicensed

Youarewrong!

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Facilitation

Maybeappropriate:WhenyouragentdoesnotknowtheconsumerWhenabuyerwillnotenterintoawrittenbuyeragencyagreementWhenyoutimeanddutiesmaybelimitede.g.wanttoputinoneofferononehouse

Whenyoualreadyrepresentanotherparty

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Disclosure

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Disclosures

Agencydisclosure254CMR3:00(13)a.Agencydisclosureforrealestateagentsrepresentingthesellerorbuyer.Arealestatebrokerorsalespersonshallprovidetoaprospectivepurchaserorsellerofrealestateanoticedevelopedandapprovedbytheboardwhichclearlydisclosestherelationshipofthebrokerorsalespersonwiththeprospectivepurchaserorselleroftherealestate.Thenotice,developedbytheBoard,shallbeprovidedtoaprospectivepurchaserorselleratthetimeofthefirstpersonalmeetingbetweentheprospectivepurchaserorsellerandthebrokerorsalespersonforthepurposeofdiscussingaspecificproperty.

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AnAgent’sViewofDisclosure

AnytimeafterImeetyoubutbeforeyouwriteanofferAformwheretheconsumerchosestherelationshipAcreationofbuyeragencyOnlybuyersAlwaysandforever

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2010AgencyDisclosureInvestigation

2014Anotherinvestigation?

Disclosures

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CurrentAgencyDisclosureForm

DisclosuretoaBuyerofSellerAgency

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Agency disclosure to other agents

According to the REALTOR Code of Ethics, it is the duty of an agent to disclose to another agent their relationship with the buyer

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ConsentandNotice

DualAgencyConsent

Specificlanguage

Notice

DesignatedAgencyConsent

SpecificLanguage

Notice

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Events

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Teams

Whatisthedivisionofduties?Dotheyinteractwiththeconsumer?Whatisthephysicalstructure?Whatistheteamleadersphilosophy?Whatdoesitmeantorepresentdifferentparties?

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OpenHouseWhoarethey?ListingAgentNonListingAgentsTeamMembers

DutiesandresponsibilitiesConfidentialityProtectingthepropertySellingorprospecting

MarketingvsAgencyAllagentscanparticipateinmarketingtheproperty

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Walk‐Ins

Whodoyoualreadyrepresent?

Doyouhaveconsentfromyourcurrentclient?

DatingorMarriage?

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Me,MyselfandI

SingleAgentDualAgencyInformedConsent‐ a person’s approval or permission

for an action to occur that is based on full disclosure of facts needed to make an intelligent decision. To enable the client to make an intelligent decision such facts and information should include alternatives from which to chose knowledge of liability, limitations of choices.

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Was there a client first?

Double Dipping

Fiduciary Duties

Me,MyselfandI

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OffersandBeyond

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PriortoOffer

Doesyourclientknowwhorepresentswhom?

Doesyourclientknoweverythingaboutcompensation?

Doesyourclientknoweverythingyouknow?

Doesyourclientknowif,whenandwhatyoumustkeep

confidential?

Doesyourclientknowwhatisnotconfidentialandby

whom?

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PriortoOffer

Doesyouragentknowthedifferencebetween:

Dutytodiscover

Dutytodisclose

Sourceandresource

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DuringtheOffer

ActingtimelyActinglawfullyOfferpresentationFunds

FinancialqualificationsPresentationofOffer

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OffertoClose

ActingTimelyMcCarthyvTobinOwenvKessler

ContingenciesReleaseofcontractEscrowFunds

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Office policy and education

I. Company Policy – Your company should have a clear and defined policy on agency.

II. Encourage/require/offer an agency training course –ABR

SRS

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JodyO’BrienTheRE/EducationCompany

CommittedtoProfessionalisminRealEstatethroughEducation

Blogwww.reeducator.wordpress.comPresentationwww.slideshare.net/ReEducationCompanySocialMediawww.twitter.com/reeducatorwww.youtube.com/msreeducatorwww.facebook.com/reeducatorwww.linkedin.com/in/reeductor

ThankyouforAttending