The Ethical Real Estate Agent

Latest stats and new coming out of the NAR, lenders, media and across the net indicate that 2008 just might be a better year all around for the real estate industry. Prices in the northeast have shown a slight increase over last quarter, the south has pretty much held it’s own compared to other parts of the nation.

Our daily lender and interest reports show that interest rates are at an all time low. There are many great programs out there for buyers with decent credit and affordable interest rates. The subprime “mess” is leveling out with a trend towards FHA loans. In addition the FHA is implementing some program standards geared towards protecting the consumer from predatory or other unethical practices in the lending industry.

Having been in the industry for quite a few years I have watched the market’s ebb and flow and weather many a storm. In our area (the southeast) we have been blessed with a great market and have faired decently through this last down swing. As I watch the numbers in our local MLS reports they have been down but are starting to slowly improve just a little. I hope that many of us have taken the time during this slow season to reflect on not only ourselves but as our profession at large.

As REALTORS and/or real estate agents we have a duty and obligation to our clients and consumers at large. We are constantly reminded of our duties and responsibilities. I am not one of those agents that has to have their name and/or face pasted everywhere to maintain the status quo but rather pride myself on “doing the right thing”. It is important to me to complete a transaction knowing that I have fully disclosed all that should be disclosed, helped a buyer find a property that they really want, need and can afford. One of the first things I do is get my buyer prequalified. Why? The answer is simple. Why would I want to waste my time or my buyer’s time researching, riding around looking at neighborhoods and homes only to set them up for disappointment when they find the perfect home, go to the lender only to discover they either can’t afford the payment or don’t have enough down payment?

As for my sellers, before I even go to a listing appointment I have performed many hours of research. Why? I want to know everything there is to know about the property in order to be able to represent my seller, ask intelligent questions of my seller at the listing appointment. I leave with the information and tools to go forth and try to sell the property.

Whether representing a buyer, seller or even sometimes both, I want the best for my clients. I take the time to really “listen” to what they are saying and try to assist them in making informed and healthy choices.

Stop, look, and listen. I’m always amazed when I take the time to perform this small action to what I can learn in a short amount of time. I’m not perfect nor do I expect others to be however I challenge every agent across the nation to reflect inward and around and to strive toward being better consumer advocates.

Lastly I applaud those who are. There are some really great agents out there, I know because I have closed transactions with them through the years. To them I say thank you for doing your job. Thank you for researching and fully disclosing to your client. Thank you for doing the paperwork, talking to the lender, appraiser, surveyor, inspector, attorneys, paralegals and countless others. KUDOS to you!!! You’re a champ.

I leave us all with a question. Can we look in the mirror and answer in a positive fashion….

Are YOU an ethical real estate agent?