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November 7, 2008 
Please take a moment to nominate them. Let's honor those outstanding rental agents who go above and beyond. Click Here for the Nomination Form >>
CONDOLENCES FROM SCAOR
Please keep Dee and her family in your thoughts and prayers.
Members - buy it for only $25, then download it onto your computer right away!
Association info ~ Residential, Commercial, Farm Sales ~ Industry contacts GOT ART?
ETHICALLY SPEAKING... Our Duties to Clients and Customers
Case #2-19: Deceptive Information in MLS Compilations
REALTOR® A listed Seller S's house and placed the listing in the local association's MLS. Within a matter of days, REALTOR® X procured a full price offer from Buyer B. The offer specified that Buyer B's offer was contingent on the sale of Buyer B's current home. Seller S, anxious to sell, accepted Buyer B's offer but instructed REALTOR® A to continue marketing the property in hope that an offer that was not contingent on the sale of an existing home would be made. A week later, REALTOR® Q, another cooperating broker working with an out-of-state transferee on a company-paid visit, contacted REALTOR® A to arrange a showing of Seller S's house for Buyer T. REALTOR® A contacted Seller S to advise him of the showing and then called REALTOR® Q to confirm that he and Buyer T could visit the property that evening. REALTOR® A said nothing about the previously-accepted purchase offer. REALTOR® Q showed the property to Buyer T that evening and Buyer T signed a purchase offer for the full listed price. REALTOR® Q left the purchase offer at REALTOR® A's office. REALTOR® A informed Seller S about this second offer. At Seller S's instruction, Buyer B was informed of the second offer, and Buyer B waived the contingency in his purchase offer. REALTOR® A then informed REALTOR® Q that Seller S and Buyer B intended to close on their contract and the property was not available for purchase by Buyer T. REALTOR® Q, believing that REALTOR® A's failure to disclose the existence of the accepted offer between Seller S and Buyer B at the time REALTOR® Q contacted REALTOR® A was in violation of Article 3 of the Code of Ethics, as interpreted by Standard of Practice 3-6, filed an ethics complaint with the association of REALTORS®. At the hearing called to consider the complaint, REALTOR® A defended his actions noting that while Buyer B's offer had been accepted by Seller S, it had been contingent on the sale of Buyer B's current home. It was possible that Buyer B, if faced with a second offer, could have elected to withdraw from the contract. REALTOR® A argued that continuing to market the property and not making other brokers aware that the property was under contract promoted his client's best interests by continuing to attract potential buyers Based on your understanding of the Code of Ethics Article 3, how do you think the Professional Standards Panel ruled? Find out in next week's At a Glance!
Thank you to all who voted and to all who thoughtfully supported or volunteered for candidates. November 19 - 21: Growing Greener - Planning Healthy Communities for a Healthy Planet Full Listing of November 12, 2008 through December 12, 2008
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© Copyright 2008 Sussex County Association of REALTORS®
23407 Park Ave., Georgetown, DE 19947, USA Phone (302) 855-2300 ~ Fax (302) 855-2319 ~ info@scaor.com ~ www.scaor.com |
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Who is your favorite hardworking rental agent, who gives new meaning to the phrase "outstanding customer service"?
