What are the Duties and Responsibilities of the Realtors to their Clients?
When you choose a realtor, please make sure you know what your agent can and cannot do for you. There are federal and state regulations that govern or affect a realtor’s actions.
The Federal Fair Housing was designed specifically to prevent discrimination. The Fair Housing Act was created was contained in the Civil Rights Act of 1968 and changed by the Fair Housing Amendments Act of 1988. The Fair Housing Act is protecting seven classes and these are race, color, religion, national origin, sex, handicap and familial status.
Realtors could not be able to address some requests from their clients for the reason that is against the law. Like for example, if a Muslim person asks a realtor to find a home near to a mosque in a certain community, the realtor cannot accommodate the request. The realtor also can’t take into consideration the request to be situated near a mosque. The realtor can’t even advertise that a listing is around the corner from a mosque
Questions about about the ethnic make-up of a neighborhood cannot be answered by realtors. One example is, don’t expect your realtor to show you homes in neighborhoods that mainly comprised of African-Americans, Caucasians, Latino’s, American Indians or any other ethnicity or race. You must present these requests to your realtor.
When it comes to advertising, the realtor must avoid words used represent any protected classes. Here are the following words are not suitable and could violate Fair Housing laws. Do not ask your realtor to use these words:
Section eight Couples Mothers Singles only Handicapped Bachelor apartment Seniors Married Mature Integrated
These are just some list of words that are used. Do not bother to ask a realtor if you feel what you are asking is discriminating.
Lastly, do not ask your realtor for crime statistics of an area. Smart realtors will direct you to the police department or other sources of information. Your realtor should never disclose crime statistics or say a neighborhood is a relatively safe place to live, even if the realtor believes this to be true.
What Are Realtor Designations?
Now you have a realtor. That realtor has probably mentioned belonging to certain realtor designations. You’re probably thinking, what does all this mean? Well, let’s examine what type of designations your realtor might belong to and what they mean.
GRI Graduate Realtor Institute This designation is approved by approved by the National Association of Realtors and offered through state realtor associations, agents who desire a GRI designation must complete a minimum of 90 to 95 hours of coursework pertaining to the state that licenses them, and pass the exams. Education covers law, practice, finance, taxes, exchanges and more. Other qualifications to obtain this designation include: Membership of the National Association of Realtors Membership of the state association of realtors Membership of the local board of realtors
E-PRO Certified Internet Professional This is subsidized by the National Association of Realtors. E-PRO is an online course about using e-mal, piloting the Internet and incorporating digital services into the workplace. Realtors are required to pass an online exam.
ABR Accredited Buyer Representative This is an online self-pace course for real estate agents who stand for buyers as a buyer’s agent. Unlike exclusive buyer’s agents who never represent sellers, an agent who has made this designation may opt to work as a listing agent or a buyer’s agent.
ACRE Accredited Consultant in Real Estate This designation is offered through a private company formed by realtors, Accredited Consultant in Real Estate. Agents download the course book, read and take the exam online. This course teaches agents how to use a consulting approach versus a sales approach.
ACR Accredited Seller Representative Offered through Realty U Online, this course is designed to increase or enhance a listing agent’s professionalism and refine the dimension of service to sellers. Agents can choose whether to go online or in-class courses and are required to pass the exam.
Matt Franklin is a real estate investor based in Texas. He writes widely about issues related to real estate and finance both in the US and in the UK. His current interests currently span real estate markets affected by the global recession like the sell and rent back market and how it is evolving based on recent UK government regulation.
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