Comments on: Is “fiduciary” level of care “old school”? http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/ Seattle's Leading Resource for Real Estate Information Thu, 18 Mar 2010 23:59:00 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Rhonda Bleck http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-343421 Rhonda Bleck Fri, 16 Oct 2009 02:38:20 +0000 http://raincityguide.com/?p=6581#comment-343421 I am not sure this is the answer you want, but I have had clients offer to be referrals. I would alsways ask before I give out their names but if I am buying something or seeking a service I always ask......and in fact have received some great names from my doctor for specialsts. I am not sure this is the answer you want, but I have had clients offer to be referrals. I would alsways ask before I give out their names but if I am buying something or seeking a service I always ask……and in fact have received some great names from my doctor for specialsts.

]]> By: ARDELL http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-341993 ARDELL Fri, 24 Jul 2009 22:47:27 +0000 http://raincityguide.com/?p=6581#comment-341993 <p>Joe,</p> <p>Here's a simple cut to the chase for a buyer client who wants to buy a house, with issues that the buyer is choosing to overlook, because it's "new and shiney".</p> <p>"I will be more than happy to help you with that...just don't call me when you want to sell it."</p> <p>Simple, direct and as long as buyer client says "deal"...it's a green light.</p> Joe,

Here’s a simple cut to the chase for a buyer client who wants to buy a house, with issues that the buyer is choosing to overlook, because it’s “new and shiney”.

“I will be more than happy to help you with that…just don’t call me when you want to sell it.”

Simple, direct and as long as buyer client says “deal”…it’s a green light.

]]> By: ARDELL http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-341992 ARDELL Fri, 24 Jul 2009 22:42:50 +0000 http://raincityguide.com/?p=6581#comment-341992 <p>Joe, you already answered that question.</p> <p>When I represent you I am your best you...but I am still you, and not me. What you want to do is what I help you do best and better. Unless it is unlawful or dangerous...etc...</p> Joe, you already answered that question.

When I represent you I am your best you…but I am still you, and not me. What you want to do is what I help you do best and better. Unless it is unlawful or dangerous…etc…

]]> By: jf.sellsius.theclozing http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-341989 jf.sellsius.theclozing Fri, 24 Jul 2009 21:19:23 +0000 http://raincityguide.com/?p=6581#comment-341989 I agree. This ought to be a high priority education subject. The focus too often is on "brokering the transaction", i.e. making the deal happen, instead of on the best interests of the client. The interesting rub here is that some clients will want to make the deal happen, <em>despite</em> it not being in their best interests. What's an agent to do in that case? Is their fiduciary duty met with the disclosure and advice contra? Is not the client free to act against their best interests? I agree. This ought to be a high priority education subject. The focus too often is on “brokering the transaction”, i.e. making the deal happen, instead of on the best interests of the client.

The interesting rub here is that some clients will want to make the deal happen, despite it not being in their best interests. What’s an agent to do in that case? Is their fiduciary duty met with the disclosure and advice contra? Is not the client free to act against their best interests?

]]> By: ARDELL http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-341988 ARDELL Fri, 24 Jul 2009 20:51:08 +0000 http://raincityguide.com/?p=6581#comment-341988 <p>Hi Joe,</p> <p>Lots of old quotes express fiduciary well..."putting myself in your shoes", as example.</p> <p>Why aren't there more mandatory courses and testings in this industry regarding what fiduciary IS and means? It is the core of our business, yet how many "hours" are required to understand what fiduciary IS in order to be a licensed agent in any state in this Country.</p> <p>Fiduciary is not a list of "duties". The duties are separate and distinct from the meaning of the mindset.</p> Hi Joe,

Lots of old quotes express fiduciary well…”putting myself in your shoes”, as example.

Why aren’t there more mandatory courses and testings in this industry regarding what fiduciary IS and means? It is the core of our business, yet how many “hours” are required to understand what fiduciary IS in order to be a licensed agent in any state in this Country.

Fiduciary is not a list of “duties”. The duties are separate and distinct from the meaning of the mindset.

]]> By: jf.sellsius.theclozing http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-341914 jf.sellsius.theclozing Thu, 23 Jul 2009 02:45:34 +0000 http://raincityguide.com/?p=6581#comment-341914 This just hit my alert today (what's up with that Google?). An old war horse, like myself, knows that a fiduciary goes beyond representation, to a place called advocacy. One of the best definitions of fiduciary was in a conversation I had with Allan Dalton-- in a fiduciary relationship the client and fiduciary are one. This just hit my alert today (what’s up with that Google?). An old war horse, like myself, knows that a fiduciary goes beyond representation, to a place called advocacy. One of the best definitions of fiduciary was in a conversation I had with Allan Dalton– in a fiduciary relationship the client and fiduciary are one.

]]> By: Jerry Gropp http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-341175 Jerry Gropp Sun, 28 Jun 2009 18:28:17 +0000 http://raincityguide.com/?p=6581#comment-341175 The <strong>AIA's Office Practice and Ethics Committees</strong> (of which I was once Chairman) would agree with the above. These are good reminders. Jerry The AIA’s Office Practice and Ethics Committees (of which I was once Chairman) would agree with the above. These are good reminders. Jerry

]]> By: ARDELL http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-340503 ARDELL Sat, 13 Jun 2009 05:43:19 +0000 http://raincityguide.com/?p=6581#comment-340503 :) I'll have to look up the origin and meaning of "old war horse". :) I’ll have to look up the origin and meaning of “old war horse”.

]]> By: PatentGuy http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-340502 PatentGuy Sat, 13 Jun 2009 05:30:51 +0000 http://raincityguide.com/?p=6581#comment-340502 "old war horse" is much better than "old nag". just saying ... “old war horse” is much better than “old nag”. just saying …

]]> By: ARDELL http://raincityguide.com/2009/06/12/is-fiduciary-level-of-care-old-school/#comment-340490 ARDELL Fri, 12 Jun 2009 22:24:19 +0000 http://raincityguide.com/?p=6581#comment-340490 Matt, I appreciate your comment as I am trying to figure out something that simply hasn't been an issue for me for 19+ years. My clients comment on the blog and in emails all the time. I don't need "written testimonials" like we did in the old days when most of our conversations were in person and by phone. I have many comments from clients that appear on the blog, one was turned into a post by another writer, I can excerpt them from emails. Lots of real and unsolicited "testimonials". Aren't unsolicited ones better? But giving a person's phone number or email address. What do you do if the person keeps calling them and calling them while they are trying to make up their mind? I have seen an agent hand out 3 phone numbers and heard the complaints of his client when the caller had a list of FIFTY questions. It was like a State Exam :) That agent was almost fired, and I say rightly so. Got off on "first offense" basis and never handed out client phone numbers again. You just don't know what the person is going to do next. I would not subject my clients to that unknown factor. If someone calls your employer and wants your cell phone number and home address...they will not give it out. That's standard procedure in business...no? Has that changed when I wasn't looking? Matt,

I appreciate your comment as I am trying to figure out something that simply hasn’t been an issue for me for 19+ years.

My clients comment on the blog and in emails all the time. I don’t need “written testimonials” like we did in the old days when most of our conversations were in person and by phone. I have many comments from clients that appear on the blog, one was turned into a post by another writer, I can excerpt them from emails. Lots of real and unsolicited “testimonials”. Aren’t unsolicited ones better?

But giving a person’s phone number or email address. What do you do if the person keeps calling them and calling them while they are trying to make up their mind? I have seen an agent hand out 3 phone numbers and heard the complaints of his client when the caller had a list of FIFTY questions. It was like a State Exam :) That agent was almost fired, and I say rightly so. Got off on “first offense” basis and never handed out client phone numbers again. You just don’t know what the person is going to do next. I would not subject my clients to that unknown factor.

If someone calls your employer and wants your cell phone number and home address…they will not give it out. That’s standard procedure in business…no? Has that changed when I wasn’t looking?

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