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Asked by Julio Dajer, Hialeah, FL Sat Feb 14, 2009

This question was removed by its author.

Answers

8
John Bennett, Agent, Orlando, FL
Sun Feb 15, 2009
Fiduciary duty is the highest standard of care at either equity or law. Most Florida agents do NOT have this care level as we operate as Transaction agents. I do not see how Julio has established agency with Ms. Arenas?

Mr. Young, as you raise the question and state failure of Fiduciary Trust, can you help us understand how this agency was created?

And Yes, Hayden, I fully agree we should have communication - Remember Cool hand Luke???

And not all agents are equal, nor do all agents always do the correct thing, on time. WE are not all
"Sully's".

We are required to deliver contacts as Standard of practice 1-6 NAR:
"• Standard of Practice 1-6
REALTORS® shall submit offers and counter-offers objectively and as
quickly as possible. (Adopted 1/93, Amended 1/95)"

But that does not mean the Seller has to respond, and may instruct agent Not to respond in any manner.
This might be a form of negotiation the seller may feel best for him (this writer does not agree with such).

Julio, your best course is to find a Realtor to help you through this situation. It's what we do every day.
If you are, or were, mistreated, that Realtor will advise you how you might go forward from here and how you might best obtain the property or other properties that might suit your needs.

John
352-978-4539
0 votes
Greg Blake, , Atlanta, GA
Sat Feb 14, 2009
NO.



NO.



NO.
Web Reference:  http://WWW.GREGSLIZT.COM
0 votes
Haydon Young, , 32550
Sat Feb 14, 2009
John,
I agree with you. There is not enough information provided to determine exactly what decision to make regarding this question. Never the less, the key to a successful contractual transaction is: Communication. Julio probably would not have been compelled to submit this question if the agent to whom the offer was sent had simply communicated to him that they had indeed received the contract; and, then, proceeded to explain the particular aspects concerning the seller and the property------short-sale, pre-foreclosure, whether the seller could readily be contacted for a response to the offer, etc,

Communication is key.
0 votes
Bill Eckler, Agent, Venice, FL
Sat Feb 14, 2009
Julio,
It sounds like there is much more to this sinerio.

Did you sign and submit a formal "Purchase Contract?"
Did you submit a deposit check with your offer?

There is a normal buying process that agents follow that protects both themselves and their customers. Are you clear of what this process is? If not, this is where you should begin with this agent or any other.

Good luck
0 votes
Keith Sorem, Agent, Glendale, CA
Sat Feb 14, 2009
Julio
Do you have a Realtor representing you?
What did they say?

It appears that Sandra is a Realtor, meaning she needs to adhere to the Realtor Code of Ethics.
Try to get the facts first, then if you really have a complaint, contact the association
REALTOR® Association of Greater Miami and the Beaches - CLICK HERE FOR DIRECTIONS
700 S. Royal Poinciana Blvd. | Suite 400 | Miami, Fl 33166
Main (305) 468-7000 | Membership (305) 468-7005 | Fax (305) 468-7030
0 votes
John Bennett, Agent, Orlando, FL
Sat Feb 14, 2009
Haydon,
Before we make the charge of failing in" fiduciary duties" we might ought to take a deep breath and realize we know little to nothing about the contract nor the background information.

Is this a short sale? You ever seen a 24 response period work in a short sale? 2 Weeks?

Is the seller out of county?

Where is it written 24 hours normal time of acceptance?

are are you talking about a Transaction or Agent?

What is delivery?

Rather than throw stones, lets let buyer get a Realtor and let that person sort all this out?

John
0 votes
Haydon Young, , 32550
Sat Feb 14, 2009
Julio,
The primary duty of a Realtor is to serve the public's best interest in general; and to serve their client's best interests specifically. By not presenting your offer in a prompt fashion, this "Realtor" failed in their fiduciary duties innate to the profession of real estate. In the contract for your offer there should be a space to specify for a respond by date. The time period to respond typically is 24 hours from the time the contract was delivered. Below is a roster a fiduciary duties an agent must perform in order for them to be considered a genuine Realtor:

1.) Obedience:
As an agent of your client, you must obey their instructions. That's only if their instructions are not illegal and are in accordance with the contract.

2.) Loyalty:
As the agent for your client, you must be loyal and keep their best interests ahead of those of any other party, including yourself.

3.) Disclosure:
In many states the law requires a real estate agent, whether in an "agency" capacity or not, to disclose material facts to their client. Material facts are those that, if known by the buyer or seller, might have caused them to change their purchase or sale actions.

4.) Confidentiality:
Your fiduciary duty of confidentiality means that you do not disclose anything that you learn about your client, their business, financial or personal affairs or motivations. This duty survives closing and lasts forever.

5.) Accounting:
Accounting for all documents and funds in the transaction is a fiduciary duty.

6.) Reasonable Care:
Whether on the buyer or seller side, a Realtor is expected to advise on price, inspections, negotiations, repairs and many other facets of the transaction. If it's not something they are expected to know, they are expected to advise your client in how to get the information.

Most Realtors are profession, prompt, and conduct their business with your best interests in mind. It pays to work with a genuine Realtor.

Take care,

Haydon Young--- http://www.destinrealestateandland.com
0 votes
John Bennett, Agent, Orlando, FL
Sat Feb 14, 2009
Good Morning,
Assume Sandra Arenas is the listing agent, and if so, may I suggest you find a agent too work with you as buyers agent. There could be very good reasons Ms. Arenas is not, can not, be more responsive, and if you had a agent working on your team, things might get better.
Best news is that this agent should cost you nothing.
I can not help you as I am too far away, but as I am from South Florida (born in Davie 1947) know several good agents in your area.

John
352-978-4539
0 votes
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