Realtors sank to the bottom of the list for the first time in history, even below non-licensed, non-regulated professions. Yes, we’ve now surpassed used-car salesmen as the profession with the least regard. Varied surveys have given different findings, but this one focused on ‘the confidence in a professional to provide sound advice.’ Checkout Vancouver Realtor for more info. Here in lies a specific difficulty for me. To begin, there are several fundamental disparities across vocations. Realtors, for example, are licenced and governed by three organisations: their local board of Realtors, their state board of Realtors, and the National Association of Realtors. Each Realtor must pass a number of critical signposts in order to be licenced. To earn a licence in Texas, for example, a minimum of three college-level courses must be completed. Of course, this only applies to people with a college diploma; if the candidate does not have an accredited degree, further courses will be required. They must next pass the licensure examination.
Following the acquisition of their licence, continuous education is required to maintain the licence, as is the case in many professions such as accounting, law, and so on. This qualification must incorporate a minimal level of real estate law and is carefully enforced. As a result, Realtors stay relatively up to date on changes in real estate and law, particularly the growing problem of mortgage fraud, which can implicate the seller in some cases, even if the seller is unaware of the law. Even if the seller is unaware of the law, they could face criminal charges and substantial fines as an accomplice. (Ignorance of the law is not an acceptable explanation.)
As a seller’s agent, a Realtor can usually identify the red signs of mortgage fraud and notify their client to the possibility and potential sources of relief in order to avoid an unfavourable conclusion (like jail). In summary, a Realtor is a specialist who can not only sell your home but also keep you out of legal trouble in some circumstances.
Realtors are also governed by a code of ethics, which they must agree to and follow, because if they don’t, they can (and often are) taken before a court of inquiry through their local or state boards to assess their guilt or innocence and receive appropriate disciplinary sanctions. In summary, if a Realtor acts unethical (not only outside the law, but also inside the law), their licence to practise can (and will, if found guilty) be revoked.
Did you know that a real estate agent is subject to the same set of rules that apply to attorneys? That’s accurate; it’s called the Law of Agency, and though it differs slightly from state to state, it basically states that a Realtor is compelled by law to put your interests ahead of their own. The idea is that lawyers and real estate agents are both bound by the same set of rules. Attorneys, on the other hand, score MUCH higher in the poll.
Ron Parpara PREC – Vancouver Realtor
1286 Homer St #400, Vancouver, British Columbia V6B 2Y5
Phone no: (604) 275-2997