Our Client Pledge

Our professional relationship will be of the highest level.

Honesty:

No statement or action can result in fraud or misrepresentation. All laws and regulations pertaining to the transaction must be obeyed, including the disclosure of material facts.

Agency Disclosure and Material Facts Disclosure:

Disclosure of agency relationships, including an explanation of the difference between a client relationship and a principal/client agreement, must be made in a timely fashion so that customers can protect their own interests. (e.g. reveal any confidential information). Material facts about properties must also be disclosed.

Accounting:

We are required to report to our client promptly all money and property received and paid out, and upon request, to tender an account of these actions. This duty also requires the agent to safeguard money or property held on behalf of our client.

In addition to Honesty, Agency Disclosure and Material Fact Disclosure and Accounting, our Client is also owed the following Fiduciary Duties:

Undivided loyalty:

We are prohibited from advancing any interests adverse to our client’s interest or conducting our client’s business in such a way as to benefit a customer, a subagent, the agent or any other party to the detriment of our client’s interest.

Obedience:

We are required to act, following and abiding all lawful instructions, subject to our client’s continuous control, but not exceeding the scope of the authority conferred by our client. That is, do not make decisions for our client.

Reasonable care and diligence:

We are required to protect our client from foreseeable risks of harm, recommending that our client obtain expert advice or assistance when our client’s needs are outside the scope of the agent’s expertise.

Confidentiality:

We are prohibited from communicating personal information about our client that was given to or acquired by the agent within the scope of employment as an agent to our client. Personal information must be kept confidential unless the client releases the agent, or subagent, from this duty. However, the material facts and defects of a property are NOT confidential.

Full Disclosure:

We are required to disclose affirmatively all information concerning the transaction (and property) which might affect the decisions a client makes, informing our client what the agent knows.

Accounting:

We are required to report to our client promptly all money and property received and paid out, and upon request, to tender an account of these actions. This duty also requires the agent to safeguard money or property held on behalf of our client.

The Difference Between a Functionary and a Fiduciary

FUNCTIONARY FIDUCIARY

1. Low Level

1. High Level

2. Low Relationship

2. High Relationship

3. Assumes Little Responsibility

3. Accepts High Responsibility

4. Uses Low Skill

4. Masters High Skill

5. Records Information

5. Perceives Information

6. Responds to Needs

6. Anticipates Needs

7. Processes Data

7. Interprets Data

8. Narrow Picture Viewpoint

8. Big Picture Viewpoint

9. Delivers Information

9. Advises and Consults

10. Other-Directed

10. Self-Directed

11. Minimum Legal Responsibility

11. Maximum Legal Responsibility

12. Employee

12. Partner

13. Does the Task

13. Owns the Result

14. Tells and Sells

14. Educates and Guides

IS. Stays out of Decision Making

15. Involved in Decision-Making

16. Follows Rules and Procedures

16. Uses Judgment and Intuition

17. Replaceable

17. Irreplaceable

 

American Dream Partners ®

OdysseyAmerica, LLC. All rights reserved

 

Keller Williams Fairfax Gateway

12700 Fair Lakes Circle, Suite 120, Fairfax, VA 22033

Each Keller Williams Realty Office Is Independently Owned and Operated