BrokerageIndustry News

It’s your fiduciary duty

The Wheel Estate Cam: Episode 30

 Editor's note: Goldman Sachs, in its $550 million settlement with the U.S. Securities and Exchange Commission, did not admit to or deny allegations brought by the SEC, but said it would change business practices and admitted to "incomplete" marketing materials prepared for a collateralized debt obligation it sold to investors. Episode 30: As a real estate professional you owe fiduciary duties to your clients, even though these duties could potentially cost you in the form of lost sales and clients, says Frank LLosa, broker of Frankly Realty, in this episode of The Wheel Estate Cam. Even if you do lose business in the short term because of your diligence in offering consumers all of the information they need to make an informed decision and avoid pitfalls in a transaction, the trust and brand you build by performing these fiduciary duties will likely pay off in the long run, LLosa said. LLosa says someone posed the question to him: "If you were selling a...