When you are transacting with a REALTOR®, you are getting the best level of service possible. And at Team Three 23, we take our commitment to go above and beyond seriously!
You’ll hear us talk about the fiduciary duties we owe you when you sign the Real Estate Agency Disclosure and Election form. These duties include the following:
Confidentiality
As your REALTOR, we keep your any information you give us confidential. We will never share your buying or selling strategies with others unless you give us written permission to do so. Your specific situation, why you’re moving or buying, the top dollar you’re willing to pay, or the lowest price you’re willing to sell – all of this stays between your Team Three 23 agent and you.
Accounting
We make sure to keep an account of all documents and funds that are a part of the transaction. There are different items that will come across from the other party, from the title and escrow company, and so forth. We keep you on track.
Reasonable Care
We are here for you, and make sure we’re acting in your best interest every step of the way. There are things we are expected to be knowledgeable about – market conditions, trends, data, contract language, etc. In addition, we really can’t step outside of our area of expertise. When you ask us if we think the roof issues that were on the inspection report are a big deal, we really can’t advise on that. But we CAN let you know what others have experienced, and we can guide you to a qualified roof inspector to help you make an educated decision.
Loyalty
You are our top priority! We don’t put anyone else’s interests during the transaction above yours – including our own. We are acting on your behalf, and we want what’s best for you. We will advise you if you are wanting to do something that may not be in your best interest, but in the end it’s up to you. For example – if your goal is to purchase a home in a certain neighborhood with a certain number of bedrooms, we keep you updated on what is available. When the house that fits your needs comes on the market, we make sure you get to see it – either in person or via video – ASAP. And if you decide you love it, we advise you on best strategies based on market conditions that will secure the home for you. In a strong seller’s market, we’ll advise against trying to come in below asking price. You’ll most likely be up against multiple offers and you’ll want to do all you can to be the winning bidder. But if you are absolutely determined to offer below list price, we owe you loyalty to do so. (Just don’t be surprised when you miss out on the house!)
Obedience
In conjunction with loyalty, we owe you obedience. We are your agent – you’re the boss! If you instruct us on certain negotiation tactics you want us to use, we will move forward accordingly. Side note: the duty of obedience is null and void if you are asking us to do anything that is immoral, illegal, or unethical.
Disclosure
If it’s a material fact to the home or the transaction, we have to disclose it to you. There are certain things that aren’t included here – we will never violate Federal Fair Housing laws. For example, we’ve had clients ask if the neighborhood has a lot of kids. Since familial status is a protected class, we really aren’t allowed to discuss that.
There are certain instances where you may be asked to forego a few of these duties. Keep in mind that in the state of Arizona, the broker “owns” the listing. So when you work with any other agent within our brokerage, you’ll be asked to sign a document called the Consent to Limited Representation acknowledging that some of these fiduciary duties will be waived or limited.
There are two types of limited representation:
Two agent. This is where 2 agents within the same brokerage represent the parties. Within Team Three 23, we are completely comfortable with this situation. As your individual agent, we give you all the same benefits as listed above. When the limited representation comes into play is when there is a situation that needs to be escalated to the broker. In that case, they will make decisions based on the knowledge of all parties – not just your side. So the loyalty and disclosure is limited and/or waived, depending on the issue at had.
One agent. This is when the same agent represents both the buyer and the seller. This is something that, at Team Three 23, we do not practice. We feel that, as our client, you deserve to have your own representative. So we don’t cross the lines. If we have a situation where one agent represents the seller, and then they have a buyer client who wants to make an offer on the listing, we will refer that buyer to another Team Three 23 agent.
Bottom line, we adhere to these guidelines. But we also want to exceed your expectations at all times! So this is our baseline of responsibility and customer service to you….this is just where our customer service begins!
