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Added for You - The Duty Of Confidentiality In Real Estate
There are many small businesses that, even in this day and age, don't have a website or have one that just sits there and does nothing. What they want is a website that makes money instead of costing money. A site that is search engine friendly will assist in accomplishing this goal. That way the search engines will help them by sending them traffic. When it comes to business on the Internet, traffic is everything.You don't have to be a fortune 500 company. You don't have to wait years or even months. You don't have to have a multi-million-dollar budget. Anyone can compete, even mom and pops. You just need to know the right way to go about promoting your websites as well as optimizing them for the search engines.One thing I've discovered is that when it comes to building web sites for businesses, there really are no shortcuts. If you cut corners, it will always come back to haunt you. This could lead to many, many changes or, in the worst case, a site that just doesn't work well.What is a small business to do?terest of the public in matters involving Real Estate, a question now arises as to whether or not the duty of confidentiality extends beyond the expiration or otherwise termination of the Listing Agreement.
In a recent case the Real Estate Council reprimanded two licensees and a real estate firm for breaching a continuing duty of confidentiality, which the Real Estate Council found was owing to the Seller of a property. In this case the subject property was listed for sale for over two years. During the term of the Listing Agreement the price of the property was reduced on two oc
As recently as a couple of years ago, no one in his right senses even remotely considered the idea of using blogs for promoting his business. Go back a few years further and you will find the word blog itself was not in any popular use. What once started as an idle person’s random thoughts expressed in unorganized writing pieces posted on a website has now, in a very brief time-span, become a pastime for millions around the world. Every day, there are thousands of novices getting into the act of blogging. This number has increased considerably due to the fact that Google, Yahoo, Microsoft and other prominent players on the web facilitated it by offering free blogs. Despite this phenomenal expansion of the universe of blogs, very few have realized that they can post a blog to serve their business and financial interests.Blogs have transformed many areas of peoples lives including the web, politics and journalism. Businessmen are just trying to understand how they can make blogs impact their business for profit. When, without any inhib
A Listing Agreement, as it is widely known, is none other than a contract between the rightful titleholder of an interest in land (the ‘Principal') and a duly licensed real estate firm (the ‘Agent'), whereby the firm stipulates and agrees to find a Buyer within a specified timeframe who is ready, willing and able to purchase the interest in land that is the subject matter of the contract while acting within the realm of the authority that the Principal confers onto the Agent, and wherein furthermore the titleholder stipulates and agrees to pay a commission should the licensee ever be successful in finding such Buyer.
As in all contracts, there is implied in a Listing Agreement an element which is commonly know at law as an ‘implied covenant of good faith and fair dealings'. This covenant is a general assumption of the law that the parties to the contract - in this case the titleholder and the licensed real estate firm - will deal fairly with each other and that they will not cause each other to suffer damages by either breaking their words or otherwise breach their respective and mutual contractual obligations, express and implied. A breach of this implied covenant gives rise to liability both in contract law and, depending on the circumstances, in tort as well.
Due to the particular nature of a Listing Agreement, the Courts have long since ruled that during the term of the agency relationship there is implied in the contract a second element that arises out of the many duties and responsibilities of the Agent towards the Principal: a duty of confidentiality, which obligates an Agent acting exclusively for a Seller or for a Buyer, or a Dual Agent acting for both parties under the provisions of a Limited Dual Agency Agreement, to keep confidential certain information provided by the Principal. Like for the implied covenant of good faith and fair dealings, a breach of this duty of confidentiality gives rise to liability both in contract law and, depending on the circumstances, in tort as well.
Pursuant to a recent decision of the Real Estate Council of British Columbia (http://www.recbc.ca/) , the regulatory body empowered with the mandate to protect the interest of the public in matters involving Real Estate, a question now arises as to whether or not the duty of confidentiality extends beyond the expiration or otherwise termination of the Listing Agreement.
In a recent case the Real Estate Council reprimanded two licensees and a real estate firm for breaching a continuing duty of confidentiality, which the Real Estate Council found was owing to the Seller of a property. In this case the subject property was listed for sale for over two years. During the term of the Listing Agreement the price of the property was reduced on two occ
A penny saved is a penny earner but with inflation we can say that a "A dollar saved is a dollar earned". One can easily get out of debt for free. If a person starts saving on a monthly or a daily basis, the savings can amount to a lot of money. For example if you were to save $150 on a monthly basis, this would amount to $1800 annually. This is quite a saving.This amount can then easily be used to pay back debts and small loans that you may have. This amount can also be used o fund any unforeseen expenditure such as a medical emergency which may not be covered by your insurance company. Debt is a financial burden, if not paid hence to, its essential that you write down all the debts for you to get out of the debt structure, in this way, you can prune your debts. Debts comprise of the principal as well as the interest component. If you miss the interest for even a month, the lender has the right to take away the service or the goods and will also charge you penalty for the same.You can get out of debt free by asking the lender o
As in all contracts, there is implied in a Listing Agreement an element which is commonly know at law as an ‘implied covenant of good faith and fair dealings'. This covenant is a general assumption of the law that the parties to the contract - in this case the titleholder and the licensed real estate firm - will deal fairly with each other and that they will not cause each other to suffer damages by either breaking their words or otherwise breach their respective and mutual contractual obligations, express and implied. A breach of this implied covenant gives rise to liability both in contract law and, depending on the circumstances, in tort as well.
Due to the particular nature of a Listing Agreement, the Courts have long since ruled that during the term of the agency relationship there is implied in the contract a second element that arises out of the many duties and responsibilities of the Agent towards the Principal: a duty of confidentiality, which obligates an Agent acting exclusively for a Seller or for a Buyer, or a Dual Agent acting for both parties under the provisions of a Limited Dual Agency Agreement, to keep confidential certain information provided by the Principal. Like for the implied covenant of good faith and fair dealings, a breach of this duty of confidentiality gives rise to liability both in contract law and, depending on the circumstances, in tort as well.
Pursuant to a recent decision of the Real Estate Council of British Columbia (http://www.recbc.ca/) , the regulatory body empowered with the mandate to protect the interest of the public in matters involving Real Estate, a question now arises as to whether or not the duty of confidentiality extends beyond the expiration or otherwise termination of the Listing Agreement.
In a recent case the Real Estate Council reprimanded two licensees and a real estate firm for breaching a continuing duty of confidentiality, which the Real Estate Council found was owing to the Seller of a property. In this case the subject property was listed for sale for over two years. During the term of the Listing Agreement the price of the property was reduced on two oc
The life cycle of the typical small business is short and painful. It starts out with a dream and ends with a whimper. And in between, a struggle of Herculean proportions is played out as the owner tries to figure out why the business isn’t succeeding.Depending on which survey you read, up to 80% of small businesses fail. Most fail within the first five years and those who survive the first five are often losing money. Pursuing a career in small business ownership seems like a fool’s footpath straight to failure and poverty.So, what is the difference between the 80% that fail and the 20% that succeed? When you examine the reasons that cause business failures, you begin to understand that most business failures are preventable. The major missing ingredient is knowledge. Business owners who get expert help before they open a business have a much greater chance of succeeding. Business owners who get expert help as their businesses grow and change succeed more quickly with fewer speed bumps along the way.Why do businesses fai
Due to the particular nature of a Listing Agreement, the Courts have long since ruled that during the term of the agency relationship there is implied in the contract a second element that arises out of the many duties and responsibilities of the Agent towards the Principal: a duty of confidentiality, which obligates an Agent acting exclusively for a Seller or for a Buyer, or a Dual Agent acting for both parties under the provisions of a Limited Dual Agency Agreement, to keep confidential certain information provided by the Principal. Like for the implied covenant of good faith and fair dealings, a breach of this duty of confidentiality gives rise to liability both in contract law and, depending on the circumstances, in tort as well.
Pursuant to a recent decision of the Real Estate Council of British Columbia (http://www.recbc.ca/) , the regulatory body empowered with the mandate to protect the interest of the public in matters involving Real Estate, a question now arises as to whether or not the duty of confidentiality extends beyond the expiration or otherwise termination of the Listing Agreement.
In a recent case the Real Estate Council reprimanded two licensees and a real estate firm for breaching a continuing duty of confidentiality, which the Real Estate Council found was owing to the Seller of a property. In this case the subject property was listed for sale for over two years. During the term of the Listing Agreement the price of the property was reduced on two oc
The key to success in marketing on the Internet is niche marketing. A niche for our purposes is a special area of demand for a product or service. Niche is pronounced neesh and nitch, the first more highly regarded in England. The US pronunciation is always nitch. A niche market can make you rich in mail order and direct mail too.My Number 3 son is a veterinarian. Last year he came over to the house and asked me to set up a website for him. It took us a couple of hours to set up the site but then something happened. His site was getting hundreds of visitors (now thousands) because his friends in his niche were blogging the news that he was in business. His site is www.irishflutestore.comIn my son’s case, the niche stemmed from his music hobby. He doesn’t need me anymore to set up a website but I suspect that someday he will set up a site for salt water fish aquariums.A niche market can come from your hobby or from your profession or job. Perhaps you have a special interest that would spark the intere
Pursuant to a recent decision of the Real Estate Council of British Columbia (http://www.recbc.ca/) , the regulatory body empowered with the mandate to protect the interest of the public in matters involving Real Estate, a question now arises as to whether or not the duty of confidentiality extends beyond the expiration or otherwise termination of the Listing Agreement.
In a recent case the Real Estate Council reprimanded two licensees and a real estate firm for breaching a continuing duty of confidentiality, which the Real Estate Council found was owing to the Seller of a property. In this case the subject property was listed for sale for over two years. During the term of the Listing Agreement the price of the property was reduced on two oc
Nothing beats promotional products for getting a targeted message to a designated recipient on a repetitive basis. The key part of this statement is “on a repetitive basis.” This fundamental benefit of promotional items is probably the most overlooked and misunderstood factor in the promotional product buying decision. Here’s a typical call I get, “I need some trade show giveaways for my next show. Do you have blah blah blah? They are really cute and I saw an exhibitor giving them away last year.” Just imagine… billions of dollars are wasted every year - Most exhibitors only get a fraction of the return on investment on their trade show promotional products. Why? Because they spend their money on giveaways and not repetitive message senders. Promotional Products Work Studies show that 7 out of 10 people who receive promotional gifts at trade shows can recall the name of the company that gave them the product. Sounds great, but that’s not all - not even close. That
In a recent case the Real Estate Council reprimanded two licensees and a real estate firm for breaching a continuing duty of confidentiality, which the Real Estate Council found was owing to the Seller of a property. In this case the subject property was listed for sale for over two years. During the term of the Listing Agreement the price of the property was reduced on two occasions. This notwithstanding, the property ultimately did not sell and the listing expired.
Following the expiration of the listing the Seller entered into three separate ‘fee agreements' with the real estate firm. On all three occasions the Seller declined agency representation, and the firm was identified as ‘Buyer's Agent' in these fee agreements. A party commenced a lawsuit as against the Seller, which was related to the subject property.
The lawyer acting for the Plaintiff approached the real estate firm and requested that they provide Affidavits containing information about the listing of the property. This lawyer made it very clear that if the firm did not provide the Affidavits voluntarily, he would either subpoena the firm and the licensees as witnesses to give evidence before the Judge, or he would obtain a Court Order pursuant to the Rules Of Court compelling the firm to give such evidence. The real estate firm, believing there was no other choice in the matter, promptly complied by providing the requested Affidavits.
As a direct and proximate result, the Seller filed a complaint with the Real Estate Council maintaining that the information contained in the Affidavits was ‘confidential' and that the firm had breached a duty of confidentiality owing to the Seller. As it turned out, the Affidavits were never used in the court proceedings.
The real estate brokerage, on the other hand, took the position that any duty of confidentiality arising from the agency relationship ended with the expiration of the Listing Agreement. The firm argued, moreover, that even if there was a duty of continuing confidentiality such duty would not preclude or otherwise limit the evidence that the real estate brokerage would be compelled to give under a subpoena or in a process under the Rules Of Court. And, finally, the realty company pointed out that there is no such thing as a realtor-client privilege, and that in the instant circumstances the Seller could not have prevented the firm from giving evidence in the lawsuit.
The Real Estate Council did not accept the line of defence and maintained that there exists a continuing duty of confidentiality, which extends after the expiration of the Listing Agreement. Council ruled that by providing the Affidavits both the brokerage and the two licensee
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