Standards established for real estate agents

Any referrals I make are contractors and services recommended to me (where I have seen the finished product), services I have used in the past, or businesses my brokerage trusts. I receive NO kickbacks, gifts, incentives, fees, or compensation for referring you to their business. My referral network is a service I provide my clients to save them time, money, and obtain quality work.

Fiduciary Duties

All real estate agents are bound by law to certain fiduciary duties in serving our customers and clients. These include:

1. Care*

2. Obedience (within the limits of the law)

3. Loyalty

4. Disclosure*

5. Accounting*

6. Confidentiality*

*Owed to customers and clients. A client is in a written agreement with a real estate agent whether buying or selling. This is why you always want representation in a real estate transaction. Your representation ensures your interests are being placed above all others.

Typically, the seller pays the listing agent (their representative) and the buyer's agent's commission. There is no cost to a buyer to be represented by a real estate agent so be sure to sign an agreement with your agent so your interests are represented 100%.

Real Estate Settlement Procedures Act (RESPA)

RESPA was established in 1974 for two main purposes:

1. Provide disclosures to consumers to become better shoppers for settlement services* (such as your Loan Estimate, Closing Disclosure, Good Faith Estimate (GFE), and Settlement Statement (HUD-1) )

2. Eliminate kickbacks and referral fees. Agents are prohibited from accepting “things of value” in exchange for referrals.

*Settlement services are services provided in connection with a real estate settlement aka closing such as: the title company, title insurance, closing services, property surveys, appraisals, pest and fungus inspections, real estate agent or broker services, and lenders. Essentially any services rendered prior to closing.

We receive no referral fees, commission, or incentives to refer our clients to settlement service professionals we trust. Any affiliations your agent or agent's brokerage has with a settlement service provider must be disclosed to you.

Full Disclosure of Material Facts

It is the seller and listing agent’s responsibility to disclose any material facts. If there is a known issue with a home, it needs to be disclosed to potential buyers. It’s not only a legal obligation, it’s the right thing to do.

Material facts distinguish significant or essential facts from trivial or unimportant facts. Material facts would have a bearing on one’s decision whether or not to purchase a home.

Examples of material facts may include a leaky roof or basement, problems with the heating and cooling systems, environmental hazards, or planned future developments in the surrounding area that may affect the desire of the property.

Sex Offenders:

Megan’s Law is a federal law established in 1994 after the high-profile rape and murder of seven-year-old Megan Kanka in New Jersey a sex offender with two previous convictions of sex crimes against small children. Megan's parents went on crusade to change the Jacob Wetterling Act by demanding mandatory community notification of sex offenders. Megan's Law requires community notification through a public registry. State governments decide what information will be made available and how it should be disseminated.

Real estate agents are not required to disclose if a sex offender lives in a particular neighborhood. As the mother of a daughter, it’s something I personally would like to know if I were looking for a new home. I will disclose this information to parents and it can also be can be found at:

www.mshp.dps.missouri.gov