An estate agent or their representative must promptly communicate all offers to purchase, sell, or lease real estate or a business to the principal, unless instructed otherwise in writing. If the principal has directed that an offer will not be submitted, the agent must inform the offeror that their offer will not be presented to the principal. why is this important
repercussions forThe requirement for an estate agent to promptly communicate the agent and damaging their professional all offers reputation.
4 to their principal is important. Opportunity Maximization: Prompt communication for several reasons:
Transparency of: offers It ensures that the principal is allows the principal to consider all opportunities available fully informed to about them all potential transactions.. This This can lead to better transparency helps negotiation build outcomes trust and between the potentially higher agent and the principal, as sale the prices or more favorable lease terms principal can be confident that.
they Clarity of are receiving all relevant Intent information.
: If a principal2. Informed Decision-Making: By communicating all offers, has the principal instructed the agent not to submit certain offers, the agent must communicate this to can the offer makeor. This informed clarifies the decisions regarding their property. They can situation evaluate the and prevents misunderstandings, offers, negotiate terms, ensuring that all parties are aware of and choose the best option the principal's intentions.
that aligns with their6 goals. **Professional.
3.ism** : AdLegal and Ethical Obligheringations to: Estate agents these communication standards reflects have professionalism a in legal the real estate and ethical duty industry. to act It demonstrates that in the agent values their the client's best interests interests of their clients. Failing to and is committed to communicate offers providing quality could be seen as service.
a breach ofIn this duty, summary, the prompt communication potentially leading to of legal offers is crucial for maintaining repercussions or transparency, loss of ensuring informed license.