Confidentiality – How Important Is It?

If you were selling a property, what value would you place on your selling agent not disclosing your personal circumstances to the general public?

Quite a bit, I’m guessing?

Would you want any potential buyers to know your particular reasons for selling your home, and even worse, what your minimum price might be?

According to what I hear from speaking to buyers, it is not unusual for an agent to disclose the sellers reasons for selling and even hinting what the seller may accept.

This is clearly a breach of client/agent confidentiality.

The seller of course is obliged to disclose to the buyer, through the agent, all relevant information in regard to the property itself, however their reasons for selling and the price they’ll accept is and should remain confidential.

Any breach of this confidentiality not only breaches the Code of Conduct for real estate agents, but it is also an immoral practice designed to achieve a quick and easy sale by creating an atmosphere of desperation on behalf of the seller.

The job of the real estate agent is to work in the sellers best interests at all times and to follow their instructions. Any breach of this confidence is a betrayal of trust especially when it leaves the seller at a disadvantage in the negotiation process.

Interestingly enough, an agent who discloses sensitive information to the buyer is not doing himself any favours in the long run. Quite a few sellers I have met over the years have not chosen to list their property with the agent who sold them the property in the first place. The reason – because they felt the agent was working for the buyer, and not the seller at the time.

Rubbing salt into the wound, the agent is actually being paid by the seller to supposedly work in his (the sellers) best interests. Thankfully, most real estate agents maintain confidentiality, especially the more experienced ones, who are not so desperate for a sale.

Something to be aware of when appointing an agent to sell your home.

Cheers

Bernie Kroczek

I would be really interested in your thoughts or queries. Please feel free to comment here.

About Bernie Kroczek

Bernie Kroczek has been in real estate for over 26 years. He prides himself on offering an alternative to the usual way of doing real estate. He also likes to offer plenty of free information to help people make the best decision when buying or selling property.

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