Dishin' Dirt on the Agent's Fiduciary Duty in a Builder Transaction. Quit Dropping Off Your Clients!
Автор: Blair Cato Pickren Casterline
Загружено: 2025-09-18
Просмотров: 118
Описание:
In this abbreviated episode of Dishin' Dirt, I will discuss the other side of the coin in the builder agent debate. I will talk about the fiduciary duty that buyer agents have in a new construction transaction. Quit dropping off your clients and leaving! Why do I even have to say this.
And then I will shift gears to explain the implications of the new FinCEN reporting requirements and urge agents to stay informed and compliant to protect their licenses and clients.
Takeaways
NAR is reorganizing its legal department to better serve members.
Builder agents must comply with the same laws as resale agents.
Fiduciary duty requires agents to actively represent their clients.
FinCEN reporting is mandatory for certain transactions.
Real estate agents must ensure compliance to avoid penalties.
The importance of reasonable inquiry in agency relationships.
Agents should not drop clients off at builder offices.
Communication with clients about legal requirements is crucial.
The government is increasing scrutiny on real estate transactions.
Education on FinCEN is essential for all real estate professionals.
Chapters
00:00 Introduction and Realtor Mania Highlights
02:42 NAR Legal Updates and Builder Rules
05:54 Fiduciary Duties in Real Estate Transactions
08:39 Understanding FinCEN Reporting Requirements
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