Realtor® duties to be performed as the agent you hire..
Realtor® duties start when you hire a Realtor® you deserve to understand what the duties are that Realtor® performs to you they work for you. I have compiled a list of what to expect when you hire a Realtor® in Maryland. Laws to change State – State. For your next Search to Hire a Realtor® make sure you are hiring a professional Real Estate Agent that understands the laws and also enforces them with complete honor and puts you, the client first.
Realtor Duties to know about hiring Skip Young Realtor®
You’ll learn to recognize duties owed to both clients and customers, and understand the duties Skip Young will perform for others without breaching the duties or obligations you owe to your clients. In addition, you’ll gain a clearer understanding of the role I am required to play in keeping your confidential information confidential.
- Recognize the duties owed to you the client and non-clients in our Maryland real estate transactions, recall how to comply with the duty of confidentiality, and identify duties an agent may perform for others without breaching any duty or obligation owed to their clients.
- Once you create the proper brokerage agreement, understanding and recognizing the required duties owed to clients and customers in a real estate transaction represents the core of your real estate business. Understanding the basic duties you must provide to your client is critical in minimizing your risk and ensuring that you do not breach any of the obligations owed to your client. Remember:
- You work for clients.
- You work with customers.
Client vs. Non-Client
You must have some form of an agreement—in writing—to work as a representative for any party in the sale, lease, or purchase of residential real estate. Anyone who is a party to a transaction and with whom you don’t have a contractual agreement to represent is a non-client.
- Client: A brokerage relationship agreement is in place.
- Non-Client (Customer): No brokerage relationship agreement is in place (or at least not with you).
You must perform the following specified duties:
- Act in accordance with the terms of the brokerage agreement.
- Disclose to the client all material facts as required by law.
- Treat all parties to the transaction honestly and fairly and truthfully answer all questions.
- Account for all trust money received in a timely manner.
- Exercise reasonable care and diligence.
You also must comply with the following:
- Requirements of the Real Estate Brokers Act, Title 17, and COMAR 09.11
- Applicable federal, state, and local fair housing laws and regulations
- Other applicable laws and regulations
You also are obligated to promote the interests of the client by:
- Seeking a sale or lease of real estate at a price or rent specified in the brokerage agreement, or at a price or rent acceptable to the client
- Seeking a sale or lease under the terms specified in the brokerage agreement, or terms acceptable to the client
- Unless otherwise specified in the brokerage agreement, presenting all written offers or counteroffers to and from the client in a timely manner, even if the real estate is subject to an existing contract of sale or lease
Duty of Confidentiality always a must with
In addition to the specified duties owed to both clients and customers, you’re responsible for maintaining client confidentiality on issues relating:
- A seller client’s pricing and terms
- A buyer client’s pricing and terms
- A client’s motivation
- Any facts that lead a client to purchase, lease, or sell a property
- Negotiating strategies
Additional Duties of your Realtor® Skip Young
Licensees and clients may enter into a brokerage agreement that imposes duties and obligations on the licensee that are in addition to the specified duties and obligations listed previously and not inconsistent with them. An example might be more responsibility or additional confidentiality (e.g., the name of the seller).
As noted in §17-532(f), the specified duties “are in addition to any other duties required of the agent by law that are not inconsistent with these duties.” In other words, this section isn’t intended to limit the duties owed by a licensee, such as those pertaining to disclosures of material facts or designated intra-company/dual agency. Rather, it supplements those duties.
So in Confidence when working with Skip Young Realtor®, your Fort Meade MD Realtor®
It’s important to understand your duties related of confidentiality, which includes what you may disclose and what must remain in confidence. As we’ve discussed, confidentiality includes detailed information such as the following:
- The seller or lessor will accept less than the amount set forth in the brokerage agreement, or will accept terms other than those offered
- The buyer or lessee will pay more than the amount offered, or will accept terms other than those presented in the offer
- The buyer, lessee, seller, or lessor’s motivation, including the need or urgency of a seller to sell, a buyer to buy, a lessee to lease, or a lessor to lease
- Any facts that lead the seller to sell, the buyer to buy, the lessee to lease, or the lessor to lease
- The client’s negotiating strategy
Case Study: Failure to Perform Duties
The following is based on a real event that occurred in Maryland by a Licensed Realtor®.
Mary Miller was a licensee working for Land and Home Realty. On July 6, sellers Robert and Jane Smithton entered into a contract with buyer Mark Jamison. The sales price was $265,000 with a $2,650 earnest money deposit held in escrow by Any Title Company, and closing was scheduled for August 6. Although Mary’s broker had a written policy stipulating that licensees must turn contracts in to the broker within five days of acceptance, Mary neglected to turn in a copy of this contract to her broker.
Two days before settlement, the listing agent, Andrew Marsh, learned the bank had returned the buyer’s earnest money deposit for insufficient funds. Mary did not return Andrew’s calls, so the sellers filed a complaint with the MREC.
When questioned by the MREC, Mary explained that she had personally taken the earnest money deposit to the title company, and she said the title company didn’t inform her that the bank had returned the deposit for insufficient funds until much later. During a later phone call, Mary informed the MREC that the contract date was February 6 and that the check was returned on February 23. When the MREC asked for further clarification of the dates, Mary didn’t respond.
On August 13, the MREC sent Mary a notice of hearing via certified mail. Mary signed for the receipt of that notice on August 24. Mary didn’t file a request to postpone the hearing, and she failed to appear at the hearing on October 18.
The administrative law judge for the MREC found that it was proper to adjudicate this issue in Mary’s absence. Additionally, the MREC found that Mary failed to timely advise the seller and listing agent of the return of the earnest money check. The MREC also found that Mary didn’t provide proper evidence of the timely deposit of that check and that she didn’t turn in the contract to her broker, as instructed. Mary also failed to supply additional information requested by the MREC.
The MREC found Mary in violation of the laws pertaining to duty—i.e., she failed to treat all parties honestly and fairly, answer all questions truthfully, and exercise reasonable care and diligence. In addition, she was found to be in violation of the Maryland Code of Ethics by not protecting and promoting the interests of her client.
The MREC penalized Mary with a formal reprimand and a $1,000 civil penalty. This was the first complaint against Mary.
Everyone can learn from Mary’s mistakes as a Realtor®. It is very important to make sure your deposit is submitted to the Title company in a timely manor. With myself Skip Young Realtor®, I chose to have you the client deposit the money directly to the title company. This is a process that keeps the three persons of interest up dated on the deposit. It lets you know you have a check or certified check and exactly when it was deposited. It lets the title company see you in person or look out for your wire to come over. Then it lets me know when turning in your contract along with the copy that was provided by the title company. This keeps everyone on the Buyers side doing our jobs. Remembers it is not just my job to make sure you close on your property. It is Skip Young’s job to make sure we all do our jobs in your Real Estate Transaction.
A great Realtor you should hire for you next Purchase of Home or Sale of you Home in Maryland.
Skip Young | EXP Realty | Waldorf MD Realtor®
Realtor®, Veteran, New Home Sales
888-860-7369 x 240 Broker
137 National Plaza, suite 300
National Harbor, MD 20745
Caruso Homes “Build on Your Lot”
2120 Baldwin Avenue, Suite 200, Crofton, MD 21114
- Hire Skip Young as your next Realtor to Sell or Buy your next home.
Maryland Realtor® | Veteran | eXp Realty | Director of Government Affairs Annapolis
|Fort Meade MD Realtor Skip Young Realtor for your Military move!
Military Families Matter!
Waldorf MD Realtor – Skip Young Being very fortunate enough to have a father in the Navy who was stationed in Hawaii for 18 years, I was able to grow up as a military child with only two duty stations. After leaving Hawaii’s Barbers Point, our PCS was to San Diego. After Skip Youngs father’s retirement from the Navy my father decided to return back home to the state of Maryland. I was taught the disciplines of a Military Son. If your reading my Bio here you will understand.
I myself then signed up for the Army because I knew in my heart serving my country was the first step in manhood. I left Baltimore MEPS and headed for Fort. Benning GA. Infantry training began, then Airborne school and then Ranger Indoctrination Program RIP. Yes this was the Black Berets that came and got me from graduation of Airborne school. The rest of the story is I ended up at 1st Ranger Battalion at Hunter Army Airfield. I can go no further than this at this point. I served my country from 91 -94.
While in Ranger Battalion I was trained on Motorcycles during Airfield Seizures, I had taken my bike for training at Ft. Stewart GA where a POV pulled out in front of me. I was then removed from Battalion and took up duties on base that would allow the repairs to my knee to heal. Jobs such as maintaining the Gym, Hunter Army Airfield Reporter, and my final job was to drive General DeFransisco I performed duties on Hunter Army Airfield just like a Ranger would and it showed.
I returned to my home state of the Hawaii and was assigned to the 25th Infantry Division while there I served out my term and received a disability rating and returned home to Maryland.
I first got into Real Estate at the same time I opened my first Wireless store. Early 2000’s was great for Real Estate and a great way to learn quickly like a Ranger would. Since there was boom in the Real Estate market as a Realtor I sold 60 homes that grossed over 12.5 Million. This won an award for Rookie of the year in Calvert County MD. My success has continued ever since. I have since received a degree in Information Technology since he Real Estate Market has changed to a digital and internet based platform.
Currently I am a Realtor working at Remax 100 in White Plains MD. To help move Active and Veteran Military persons I have been certified as a Certified Military Relocation. To assist in making your transition as smooth as possible. Being an Elite Solider, there are times when I would just have to leave for deployment. In this situation you need someone you can trust and understand the security that comes along with the job. Your job title is not a factor to me, the factor is making sure you home is secure, on sale, for rent, investments protected and someone is keeping an eye on your property while you are serving your country. We work in a world where things move very fast, you need a Realtor that can handle the pressure of what pressure you experience everyday in military life.
Certified Military Relocation Maryland – Skip Young
To get in touch with Skip Young and have myself personally work for you in your PCS transition please fill out the form bellow or give me ca call and I will get right on your Maryland House Purchase, Sale or Rental. Currently working in the surrounding area’s of Patuxent Naval Base PAX River, Andrews Air Force Base, Fort Meade and Indian Head Naval Base.
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