16 Sep What “Working With A Realtor” Means
The question “Are you working with a Realtor”, is commonly misunderstood. Most people don’t know what “working with an agent” is defined as. When I ask this question I want to know if you have signed Representation paper work.
As a licensed Real Estate Agent I am bound by the National Association of Realtors Code of Ethics. This requires me to ask if you are being represented.
Article 16 of this code states:
“REALTORS® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with clients.”
Representation paperwork is a signed agreement that you have chosen a specific agent to represent you. In Minnesota the buyer has the right to choose representation. You can talk to as many agents as you want and are only considered “Working with a Realtor” after you have signed Representation paperwork. Entering into a Contract of Representation with an Agent was created to protect consumers.
Substantive Contact
The reason I ask is that I’m required to know before I engage in “substantive contact” or receive your personal information. Personal information includes discussing: Motivation for moving, Income, ability to qualify for a loan, and other financing details.
Anyone who is looking to Buy or Sell a home should take a moment to consider the implications of that. “Substantive Contact” should be treated as sensitive information. As an Agent I can’t ask you for this information if I know you are working with someone else.
Unrestricted Information
These are things that any Realtor can discuss with you. Unrestricted information includes: General Market information and trends, Price of homes, Features of homes, and Stock of homes on the market.
If you have any questions I am more than happy to help and offer any advice I can. Please call at 612-889-6496 or email [email protected]
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