maryland real estate secrets (buyers, law, design)

[timeout2]

any information on their business ethics?

[Tesaje]

Like anywhere else, there are good ones and bad ones. Do your research and don't sign on for more than 3 months for a listing. They work for the seller by law unless you pay one separately and have a specific contract with them.

[TeamBenya]

Do you mean on a realtor's business ethics? There's a lot that can be explain, so I'll try to get it in a nutshell. A Realtor(defined by a real estate agent the is a member of the National Association of Realtors, or NAR) has a code of ethics and standards that they must adhere to. It essentially outlines requirements to their clients. It includes, fairness, honesty, fiduciary duties, etc. If you have a problem with a Realtor, you file a complaint with the local Realtor board, and they can reprimand or expel a Realtor from the organization, efffectively putting them out of a job. Duty wise, a Realtor is required to be as transparent as possible and work in the best interest of their client. Technically speaking, their client is always the seller unless it is specifically stated in writing and signed by all parties. Without signed paperwork clearly defining the role of the buyers agent, the buyers rep is technically supposed to be working on behalf of the seller, which is why agents push for those representation agreements (That and they're often designed to prevent people from switching agents right before they go to write a contract). Regardless of who the agent is working for they are required to 1) be fair and 2)be honest, but there is no promise that information you give a sellers agent will not be shared with the seller, always bear in mind who they're working for. Does that help answer your question?

~Jonathan Benya
Century 21 New Millennium

[Rmx Christina]

There is a code of ethics to follow...but it depends on the person. The company they work for should factor about 30%, and the agent themselves accounts to 70%.