LA 4.0 hours Disclosure Is Not A Secret - Course Syllabus
4.0 Elective Hours
There are many requirements regarding how licensees represent and deal with clients and non-clients. What agency we offer to clients can be confusing to them and we must disclose agency information to make it as clear as possible.
One solution to the agency disclosure quandary is to define the scope of your representation. Define what you can/will do. What are your areas of expertise? What does the client want from you? Will you market the property? Will you advise them during the process?
Define what you can't/won't do. You're not an expert outside the area of real estate, you do not give legal advice, and you do not give tax advice.
It is also important to set expectations early enough to be meaningful. It is common to discuss agency relationships at the first meeting with a client. They need to know what they can expect from their agent and what not to expect.
Agency relationships can sometimes be complex and difficult to explain to clients. Again, this is about setting expectations regarding the duties and loyalty of their agent. The best way to avoid misunderstandings is to disclose up front what the agent can and will do, and define what the agent cannot or will not do. This course will help you have a better understanding of agency relationships and disclosures.