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WHAT YOU SHOULD EXPECT, WHEN SELLING OR BUYING A HOME THROUGH A REALTOR:

The National Association of Realtors, code of ethics standards, mandate the following representation from your Agent/Realtor, and for the best results, you should accept nothing less. The five most challenging and often ignored articles, are as follows.

ARTICLE 1: Fiduciary duty

To "protect and promote" the client's interest is to focus on what's best for the client you represent, while being honest with all parties.

ARTICLE 2: Disclosure of pertinent or material facts

Property condition disclosures are vital. Make sure property defects and adverse factors are disclosed to the buyer or tenant.

ARTICLE 3: Cooperation with other brokers

"Cooperation" is not about being polite and is not a synonym for "compensation".  Cooperation is defined as sharing information about listings and making listings available for showings.

ARTICLE 9: Written agreements

The basic idea of this article is to get everything in writing. Sometimes buyers and sellers have different notions of what should be included or excluded from the sale or lease. Always make sure these inclusions and exclusions are written into the transaction documents, so that the parties are not relying on flyers, brochures, disclosure statements or MLS information.

ARTICLE 12: True picture

Always present a true picture in advertising, marketing and other representations. This mandate applies not just to traditional marketing, but also to Facebook, Google+, Twitter, texts and all other social media.

These articles appeared in The National Association of Realtors Magazine and are directed to Realtors and the manner in which their clients must be represented. However, these are the most common areas in which Realtors become sloppy. 

For all of your Real Estate and Insurance needs, contact, LEGACY REALTY GROUP, Edison, N.J. 732.744.0400