August 2024
MEMBERS FIRST
NEWSLETTER President’s Message Functionary or Fiduciary? Unless you have been hiding under a rock for the past year, you are well aware of the roiling controversy surrounding our profession in general and REALTORS® in particular.
James K. Lowe
2024 PRESIDENT
IN THIS ISSUE • President’s Message • Message from CEO • 2025 Proposed Slate • New VIPs • VIP Milestones • Welcome New Members • Member Benefit • FR Convention • Flamingo Bingo • School Supply Drive • June Market Statistics • 2025 Committee Sign-Ups • August Class Calendar • Vital Industry Partner Directory
The public’s misunderstanding and misconception can be distilled into a simple question: Are you as a REALTOR® working as a ‘functionary’ or a ‘fiduciary’? Sadly, many in the public space view Realtors as just functionaries – “Drive me to a property and open the door.” “Point out the kitchen and the bathroom.” “Put a sign in the yard.” “Put a picture in the MLS.” Only providing simple functional tasks with no added value or benefit or protection. If that does describe you, well to be frank you need to seriously upgrade your game. You are letting down your customers, your clients, and yourself. For the rest of us, we know there is so much more to our role. Our role as a ‘fiduciary’. Someone who can be trusted and relied upon. Someone who will put his or her customers and
clients first. Someone who will do everything in his or her power to help customers and clients achieve their goals and dreams. Someone who provides current, local Market Knowledge; Market analysis that is accurate and insightful; Professional negotiation skills; Guidance through the confusing and sometimes confounding real estate process; Mitigation of risk by identifying potential issues early and providing solutions to minimize complications; Protecting confidentiality and privacy of personal information and motivation; Saving time and effort by handling the dozens and dozens of details in buying or selling or leasing; Providing easier access to other professionals and experts; the Code of Ethics; and much, much more! Your training and experience have helped you become an expert in real estate transactions. Your customers and clients will benefit from that knowledge and expertise. They need your strong advocacy and representation of their interests. Let your customers and clients know that they deserve a fiduciary. They deserve you!
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