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Real Estate Agents Weak in Providing Fiduciary Duties

Real estate transactions carry inherent fiduciary responsibility. Are buyers getting enough value for the money spent? One agent feels they deserve more.

Atlanta, Ga. (PRWEB) November 30, 2006 -- H. M. 'Mo' Sanford, III, founder and CEO of Home Link Depot (http://www.HomeLinkDepot.com) was astounded to learn after surveying recent homeowners how little actual service they received from their real estate agents, especially when compared to the commission they paid.

Could integration of the real estate and mortgage industries result in a more efficient and less costly transaction for the average Georgian?

Sanford said that "licensed real estate agents know their clients better than anyone, so why aren't they more involved in securing the mortgage? Real estate agents have a fiduciary responsibility to their clients. Shouldn't agents go that extra mile? Everyone knows that agents are paid good commissions when closing a residential transaction. Assisting the client secure a mortgage would help answer the question in the client's mind, 'whose side is he on?'"

Sanford stated "in today's market, a client becomes entangled in the endless paper processes involved in a mortgage application and may be required to complete an application on numerous occasions. If real estate agents were also mortgage loan originators, the information obtained by the agent could be used to process a home loan application." In addition to saving time and effort, "Georgians could save thousands of dollars in commissions and closing costs."

Many individuals engaged in real estate endeavors prefer a centralized process so their time can be spent on other issues important to them. According to Sanford, why should they be sent from one facility to another to complete one transaction?

Readers wishing more specific information can visit http://www.HomeLinkDepot.com for free mortgage and real estate reports.

Provided by PRWEB.com

 

   
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