Tuesday, September 18, 2012

REAL ESTATE TERMS THE PUBLIC SHOULD UNDERSTAND


REALTOR®:  A Real Estate Professional that is required to have additional training in
Ethics; and holds active membership in a local real estate board that is affiliated with the
National Association of REALTORS.

FIDUCIARY RESPONSIBILITY:  Responsibilities that a Real Estate Professional owes to you their client; such as non-disclosure of material facts, your financial information and any and all information that you say is confidential.

CUSTOMER:  A person who is talking with a Real Estate Professional, but has
not signed a Buyer’s Representation agreement or an Exclusive Listing Agreement.
A third party that a Real Estate Professional will provide some level of information to.

CLIENT:  A person who has signed either a Buyer’s Representation Agreement and/or
Exclusive Listing agreement with a Real Estate Professional; which means that agent has
a fiduciary responsibility to you.

FACILITATOR:  A Real Estate Professional who acts as an intermediary between a buyer and seller, who assists both parties in the transaction with the paperwork and formalities involved in a real estate transaction.
All Real Estate Professionals take an oath to treat all customers and clients with honesty, truthfulness and integrity.  We do not just walk into the TN Real Estate Commission and
ask for a license.  We have to take 90 hours of classes and pass the state exam; in addition,we have to continue our education every 2 years and continue to uphold the oath to represent ourselves with honesty and integrity.

If you have ever come across an agent that has not acted in a professional way, please
do not hold it against all Real Estate Professionals; the dishonest and unethical agents are very few and far between.


Cindy Brooks, Realtor
Exit Realty of the South
1227 Lakeview Drive, Suite 1
Franklin, TN 37067
615-499-9445 (cell)
615-550-5555 (office)
CindyBrooksRealtor@gmail.com

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