At the heart of every good business relationship is honesty and trust. This is especially true when you are choosing a REALTOR® to act as your legal agent in a real estate transaction. In order to do their job properly a REALTOR® must be working solely for your best interest, with no internal or external conflicts of interest. For this reason the Real Estate Council of British Columbia and the Superintendent of Real Estate made sweeping changes to how real estate services are provided in the province in 2018. The most important change was the banning of Limited Dual Agency in the province – effectively eliminating a constant source of potential conflicts of interest.
At The Fenton Team, of Royal LePage Port Alberni-Pacific Rim Realty, we have a long history of recognizing potential conflicts of interest and taking practical steps to eliminate or minimize them. The purpose of this article is to explain to you, a potential consumer of our real estate services, how our business operates, so you can make an informed decision if we have the right REALTOR® to represent you.
It is very simple; The Fenton Team is a registered real estate marketing team. This means that we only represent sellers in real estate transactions. If you want to sell a home or property on Vancouver Island we will act solely in your best interest. This truly is our area of expertise, as we are professional marketers and internet marketers. The Fenton Team consists of Listing Agent Chris Fenton (Personal Real Estate Corporation), Listing Agent Danielle Marley, and unlicensed Listing Coordinator Tracey Rentz.
The next logical questions are: how to we handle inquiries on our listed properties? And how can we help you if you are a buyer? This too is simple; we work closely with four licensed REALTORs® who solely represent buyers in real estate transactions. The associated REALTORS®, who are not registered members of The Fenton Team, are Buyer’s Agent Esther Fenton (Personal Real Estate Corporation), Buyer’s Agent Vittoria Solda, Buyer’s Agent Shannon Chase, and Buyer Client Care Coordinator Tomm Dool. The Fenton Team refers all inquiries from buyers, or people looking for buying service, to one of these talented REALTORS®.
When you choose to hire a Listing Agent with The Fenton Team, you will enter into a written Multiple Listing Contract service agreement with that REALTOR® outlining the terms of that service. The Listing Agent will alone be working on your behalf and will always be working towards your best interest (including keeping sensitive information you share with them confidential). Likewise, when you choose to work with an associated Buyer’s Agent, you will enter into a written Buyer’s Agency service agreement with that Realtor outlining the terms of that service. The Buyer’s Agent will alone be working on your behalf and will always be working towards your best interest (including keeping sensitive information you share with them confidential).
Because The Fenton Team work very closely on a daily basis with these associated Buyers REALTORS® it is important that we all monitor each and every transaction for any potential conflict of interest. Our overriding business philosophy and commitment, and any associated success that has come along with it, has always been in holding ourselves to the highest in professionalism and honesty. As a business we strive to eliminate any conflicts of interest that would undermine that commitment. For example, The Fenton Team agents aim to never share sensitive agent with associated REALTOR® , and we have practical policies and procedures in place to ensure that it does not happen accidentally. However, due to practicalities inherent in the running of any business, conflicts of interest do arise on rare occasion. For this reason, we diligently monitor each and every client relationship, and real estate transaction, so as to recognize any conflict of interest. When a conflict of interest is identified, we are committed 100% to following the guidelines set out by the Real Estate Council of British Columbia and Superintendent of Real Estate to eliminate the conflict of interest. In practical, straightforward terms, we will seek the informed consent of both parties to the conflict, to recuse our Realtor/s from acting on behalf of one party (or if need be, both parties) to the conflict.