I was very disappointed recently when I learned one of my favorite buyers put their home on the market with another agent. I had been in touch with them on a regular basis – even sending a congratulations card when I learned they were expecting their first child.

State law prohibited me from contacting them once I learned their home was listed, so I was unable to ask why they hadn’t called me.  Instead, I asked their lender who I hold in high regard.  I learned that because the couple works with a friend of mine, they were concerned that I’d tell the friend before they were ready to give notice at work that they were moving.

This, I believe, clearly illustrates that the public does not understand just how regulated we are as real estate agents and as Realtors.  I do review "agency" with all my clients, but after a year had passed it was easy for my buyers to forget that I would have been required to maintain confidentiality for each party, in addition to obedience of all lawful instructions of the client (within the scope of the agency agreement) and I would have been requried to be loyal to the interests of my client.

In other words, if they had only called me and asked me not to say anything, by law I would have kept my mouth shut.  And had law not required this, my own moral beliefs would have prevented me from saying anything.

So if you’re worried about your agent maintaining confidentiality, don’t fret!  Though we haven’t completed eight years of medical school like doctors obeying patient privacy, we do understand when silence is golden!

The Ontario Real Estate blog wrote a lengthy, informative post about agency and what it means for clients.  The About.com page compares agency law like that of a dog… we owe obedience!  Woof!  Finally, an Active Rain blogger shared what agency and obedience mean to buyers.