The NAR Legal Scan (which can be accessed through www.Realtor.org) shows that one of the major contributors to lawsuits against REALTORS came from "breaches of fiduciary duties"."? Amongst the cases that I have read, one of those duties repeatedly shows up as the most offended:"? the duty of Confidentiality."? I would further hazard a guess that most buyers and sellers in the marketplace don't even know that the duty of preserving their confidential information has indeed been breached!"?

In my "Risk Management for the Residential Specialist' course (www.MarcieRoggow.com) we consider the best way to handle confidential information."? If you were able to look back to preeeeeeeeee-buyer agency days when everyone represented the seller, you could find a breach of confidential information case in nearly every transaction!"? The buyer (customer) loves the house."? You are the co-operative subagent in the transaction."? The buyer wants to know why the seller is selling and what you really think its worth."? The information flows freely from your mouth!"? Don't pretend you don't know what I am talking about here!"? THEN when buyer agency appeared on the horizon in the "90's a new avenue of confidentiality appeared."? An example that I have always used was when the buyer's agent had previous knowledge of the seller's situation either through the listing agent in your own company or perhaps as the former listing agent and now is going to "come to the rescue' of the buyer and tell all.

When it comes to offer presentations it is a never ending battle to preserve the confidential information of the parties."? Why don't real estate agents get this?"? It reminds me of those billboards that you see everywhere: "What don't you understand about "Thou shall not kill?"? signed God. (That sign actually is right across the street from our state penitentiary!) How hard is it to know when to keep your mouth shut? "?Here are a couple of my favorite examples:

• Buyer's Agent brings an offer to the listing agent. The Buyer has already gone back to Anytown, USA."? The Seller's agent looks a little disturbed by the offer so the Buyer's agent ' in order to save the deal for their buyer- says "Don't worry, I had them sign a counter-offer before they left town."? Just bring me something I can work with!""? GUILTY AS CHARGED!

• The Buyer's Agent brings an offer to the listing agent."? The listing agent smiles and says "Are we going to get this done' and the Buyer's agent says "Whatever it takes."? The Buyer loves this house!""? GUILTY AS CHARGED!

• The Seller's Agent has had the home listed for 90 days in an otherwise 30 day market."? A Buyer's Agent calls to inquire as to the availability of the property."? The Seller's Agent begs the Buyer's Agent to BRING THEM AN OFFER!"? Sharing that the seller is being unreasonable and won't reduce the price even though they have demonstrated the market says the house is overpriced!"? GUILTY AS CHARGED!

• The Seller's Agent is at an open house."? The Buyer comes in and wants the answer to those all too famous questions: How long has it been on the market? Why are they selling?"? Have there been any offers? And the real winner, "What will they finally settle for'

The list actually goes on and on and if you delve into the cases that have been filed in either the courts or through the Professional Standards Committees, you'll find amazing situations."? So where does that lead us? When I do company training on these risk management issues, I usually bring along rolls of duct tape for everyone to put on their desk."? I also suggest just putting a little piece of it in their car, on their cell phone, and by their phone at home."? ZIP IT! is what I used to say to my kids when they would start to gossip or tell tales."? Now I get to say it to REALTORS who don't want to be GUILTY AS CHARGED!"? Do you have examples of common breaches of confidentiality?"? Please share so that others will understand how common this is!

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