It Ain't Always as Cut & Dry as You Might Think

Put your thinking caps on while reading this post by Alan May, It Ain't Always as Cut & Dry as You Might Think.  It got me wondering what steps to take if, as a buyer's agent, I found myself in this situation here at Lake Anna.  You might want to think about how you would handle this situation also.  

In fact it has inspired me to write a post to see if we can come up with effective solutions to this problem.  If you have any please share them on my next post.

I am a member of the Grievance Committee on our North Shore/Barrington Board of Realtors. I spent the morning (along with our own Margaret Goss, who's been on the professional standards committee for years) at a training session for the Professional Standards committee.

I thought I was pretty sharp, and pretty on top of the Code of Ethics and the rules that regulate our profession.  Boy, these training sessions have a way of making you feel pretty darn stupid.

Let's take a brief example (Keep in mind the ruling is based on transactions in Illinois).

  • Bob showed his own listing (by appointment), to the same potential buyer... twice.  When the buyer decided they were ready to write an offer, Bob disclosed "agency" and asked the buyer to sign the Illinois Agency Disclosure form, and Consent to Dual Agency form.  The buyer did not want dual agency and turned to Zelda, a Realtor who is a friend of the family to write the offer.  Who will be considered procuring cause, should it come to a Professional Standards hearing?

Now, I'll give you the same speech that Terry Penza (the president of our board) gave us, prior to giving us these little sample problems.  You need to consider this from the law, not from your heart.  Or in other words, not from your true-life experience out there in the field.  It has to be based in Code of Ethics and NAR rules.

For the answer, lift your monitor, and hold it upside down and read the boxed-answer in red.

ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate

    

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Comment balloon 0 commentsKate Elim • November 19 2011 08:29PM

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