Colorado Springs Vintage Homes Blog

Real Estate Agents have a fiduciary relationship

Fiduciary Duties

Related Articles: 

• Real Estate Agent or Realtor? What’s the difference?
• How to choose a Buyer’s Agent 

I came across a great article in the Gazette over the weekend about Fiduciary Responsibilities.   It was informative, well-written, and very much applies to Colorado Springs Real Estate and Realtors.   My favorite quote from the article written by Jim Flynn  ”The law expects more of fiduciaries than others who have legal duties to another person.”    Some examples of professional who have a fiduciary responsibility are trustees, executors, and guardians, as well as Realtors.

You may wonder what all of this has to do with real estate.  The answer is, it has everything to do with Realtors and real estate in Colorado and it starts with an understanding of agency in Colorado

Agency and Real Estate

Colorado is considered an agency state, and Real Estate Agents have 2 choices of how they represent clients.  According to the information in the Colorado Real Estate Manual:

Tags: Dual agency in Real Estate, Real estate agent, real estate agent colorado springs, Realtors Colorado Springs, What is a Buyer agent?, what is a realtor

Real Estate Agent or Realtor?

What is the difference between a Colorado Springs Realtor and a Colorado Springs Real Estate agent?

Must read articles:

Most Home buyers and home sellers the Colorado Springs area use the terms REALTOR® and Real Estate Agent interchangeably, but that is not correct.   There are many differences between REALTORS® and real estate agents.    They are not the same……………..

What is a  Realtor®?

1. Realtors® subscribe to a strict Code of Ethics set forth by the National Association of Realtors, which contains 17 Articles and various underlying Standards of Practice.
2. Realtors® must complete mandatory quadrennial Code of Ethics training.
3. Realtors® belong to the local Realtor® boards, which contribute listings to the MLS (Multiple Listing Service®).
4. Realtor® agree to arbitration procedures used to settle any complaints, whether from consumers or other Realtor® members.
5. Realtors® belong to the professional organization, National Association of Realtors®. Read the rest of this entry »

Tags: access to the MLS, Code of Ethics, Multiple Listing Service, Real estate agent, realtor, Realtor Arbitration, Realtor ethics, Realtor vs. real estate agent?