Designated Agency - RE90R14
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Transcript of Designated Agency - RE90R14
Put down your baggage!
Whether you picked it up yourself or someone handed it to you. Let’s learn agency practices the right way.
History of Designated Agency
2005 ‐ Designated Agency
Change in Disclosure Form – Not Law (1991)
Company Business Model Facilitation
Consent
In Writing and
Notice
Agency Business Models
Designated Agency• Company Business Model• Appointing Agent• Separation of agents, clients and files
• Larger companies
Traditional • Company Business Model• Broker of Record• One knows all know• Smaller companies – selling Broker
Designated Agency
Company
Designated Buyer Agent
Designated Seller Agent
No Relationship
Appointing Manager/BrokerDual Agent
Agency Disclosure
1. ______________
2. ______________
3. ______________
4. ______________
First personal meeting
Specific property
In writing
To buyer & seller
Mary has just driven by your new listing and she is very excited. It is exactly what she is looking for. When she calls the office she finds out you are in. She will be right over.
Bob is standing in front of the office drooling over the Broker Owners new listing in the window display. You go out side and comment, “It is a beauty! Do you want some more info?” Bob shakes his head and follows you in.
Jody has been a client of yours for years. You have just listed her house. As you are standing in the kitchen at the first open house you realize this is perfect for the West’s , your buyer client you have been searching for a home for two months.
Sandy walks in to the open house …loves it and wants to make an offer. She is not working with anyone, she prefers to deal with the listing agent.
Sandy walks in to the open house …loves it and wants to make an offer. She is not working with anyone, she prefers to deal with the listing agent.
When am I a Dual Agent?
•Me – Myself – I• Your listing• Your Buyer CLIENT
•You covered for an agent
• Created an agency relationship with their client
• Now are bringing the other side
•You appointed the other agent
Office Procedures
•Open House•Disclosure
•Vacation/Day off•Termination of Agency
•Teams•Be realistic
•Mentors•What do they know
RISK
•Everyone knows the agency business model
•Accurate and Timely disclosure
•Everyone knows the Appointing Agent
•The Appointing agent knows they are in dual agency
•Document, document, document– The Perfect File
•Understand and keep confidentiality
•Choose agency carefully
Jody O’BrienThe RE/Education Company
Committed to Professionalism in Real Estate through Education
Blogwww.reeducator.wordpress.comPresentationwww.slideshare.net/ReEducationCompanySocial Mediawww.twitter.com/reeducatorwww.youtube.com/msreeducatorwww.facebook.com/reeducatorwww.linkedin.com/in/reeducator
Thank you for Attending