Legitimate calls made to For Sale by OwnersA licensee may call a former client with whom they have done business in the previous 18months. Or, if a consumer makes an inquiry, the licensee may call for up to three monthsafter the inquiry. Licensees may call clients or customers with whom they have existingbusiness relationships.The fine for calls placed to consumers with numbers on the registry list may be up to$16,000. Brokers are required to have certain procedures in place to prevent penalty and lawviolation. A policy manual within the brokerage allows the broker what is known as “SafeHarbor” from being fined for a sales associate who violates these laws. Areas which must bewritten MUST include: Training and policies in place with regard to list use and availabilityFrequent access to the registry to update listed numbersDocumentation and records of the process for compliance proceduresHow to document for calls made to consumers who ask that the brokerage not callthem. If a For-Sale-by-Owner has a registered number, calls may not be made to that number.However, if a sales associate has a qualified buyer who is interested in a For Sale byOwner home, he may call to arrange on behalf of the buyer, a showing – and negotiate asale from there. End of Page Most brokers belong to a Multiple Listing Service, MLS of some type. The MLS is a database of all the listings of brokers who belong to the service. The brokers have agreed to share the commission with a Cooperating broker”. The listing broker must make the commission split or compensation that will be paid to the cooperating broker clear within the MLS. However, the cooperating broker does not need to know what commission is being paid to the listing broker. In most areas, the MLS is easily accessed by the internet and Florida Realtors has a shared MLS program that provides cooperation through almost all of the state MLS’s. 25 . Multiple Listing Agreements
End of Page Brokers and sales associates who belong to the National Association of REALTORS® are mandated by a specific Code of Ethics that discusses the REALTOR’S® duties to; Clients and Customers, the public, and fellow REALTORS®. Unfortunately, not all brokers and sales associates choose to join a local association and become members of this organization. Ethics in the case of non-members of NAR comes down to roughly the same simple rules, “Do unto others as you would have them do unto you”. If one works to do their best for their customers, first, works with others, and then consider themselves last, their success in the real estate business will be guaranteed. Following a code of honor for a sales associate would prevent many of the problems which have become prevalent in FREC complaints: Failure to Disclose – A sales associate who is protecting his customers and clients would always look to ensuring that the customer’s reputation be held in the best light. If a customer tells the associate not to disclose any certain items, the sales associate should immediately dismiss him or herself from being party to any sale that would be detrimental to the buyer or possibly cost the buyer in the future.
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