Clearly define the fiduciary responsibilities under various agency representations.
As a real estate professional, you have fiduciary responsibilities to your clients. Therefore, it is crucial that you can clearly define your real estate fiduciary duties.
Real estate agency representation is a large part of the responsibilities of your career. Specifically, with every agency representation relationship you engage in, you have a specific set of fiduciary responsibilities to each party in the agency. As a real estate professional, it is paramount that you clearly understand the fiduciary responsibilities related to specific agency representation relationships.
The importance of understanding your fiduciary duties to your clients is paramount. If you do not have a firm grasp on these duties you can wind up in a lot of trouble. Therefore, it is certainly in the best interest of your career to understand these fiduciary duties.
RealEstateCE.com offers a lesson on clearly defining real estate fiduciary duties.
This lesson begins with a discussion of noncompliance of agency requirements. Specifically, this discussion begins with a review of the disciplinary actions that can be taken against real estate professionals who do not uphold their fiduciary duties. This review of disciplinary actions will show you exactly why you want to avoid any breaches.
Furthermore, this first part of the discussion includes an overview of the basics of fiduciary duties. This list will teach you exactly what you are legally expected to provide for your clients. Furthermore, this lesson also includes a discussion of sub-agency and how it relates to the operations of one real estate firm. However, most of the rules and regulations regarding sub-agency change from jurisdiction to jurisdiction. This lesson includes an explanation of the jurisdiction differences. Furthermore, this lesson will teach you how to adapt to this jurisdiction differences.
The next part of this real estate continuing education lesson includes a discussion on hypothetical situations. This discussion will expose you to possible real-world scenarios.
This part of the lesson includes analyses of court cases involving breaches of real estate fiduciary duties. These are trails that actually occurred. This review of the court cases will allow you to apply what you learn in this lesson to real-world scenarios. More specifically, this lesson reviews these following court cases:
- Rivkin v. Century 21 Teran Realty LLC
- Saiz v. Horn
The analyses that accompany the review of these court cases will give you a new perspective into how the breach of fiduciary duty led to a court of law. If you understand and are able to recognize and breach of fiduciary duty, you will be able to safeguard not only your career but also your integrity.
As a real estate professional, your career involves serious risk as a well as reward. However, you can learn how to lessen this risk with RealEstateCE.com.
By remaining vigilant and aware of your real estate agency representation relationships, you can avoid any breaches of fiduciary duty. Our real estate continuing education lesson will teach you how to stay on top of it all. More specifically, this lesson will teach you how to manage this risk on your own.
Take RealEstateCE.com's lesson, Clearly define the fiduciary responsibilities under various agency representations, today!