Deal Killers: Some real estate agents, in some areas, have long held the view that lawyers were and are “deal killer’s” simply because a lawyer, acting on behalf of a client must fulfill their fiduciary duty to a client and will explain and advise their client concerning certain elements of a preposed acquisition that are adverse to their clients best interest, and suggest that the client either refrain from continuing with the preposed acquisition or make the appropriate amendments to the agreement, much to the chagrin of the seller’s agent.

Today, Buyer's agents in a number of jurisdictions have the same fiduciary duty to clients as has the lawyer, and that by fulfilling their fiduciary duty to a client, i.e. advising their clients accordingly to any adverse elements, often succeed in depriving themselves repeatedly of any compensation whatsoever and consequently the ability to earn a living under the present structured compensation of commission payable only upon the successful completion of a transaction and that changes to this method of compensating a professional for his or her time, knowledge and experience are long over due. Some believe it's time for a change. AGREE or DISAGREE ?

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

"AGREE or DISAGREE?"

We are sales people and marketers, not lawyers.
Just because we have at times fiduciary responsibilities, should not determine how we get paid.
Although there are some RE agencies trying the lawyer "menu of services" approach, I don't think they are as successful as the old-fashioned “results only” oriented agents, although the menu of services types, give a welcome choice of service to consumers in this industry.
p.s. lawyers are not used for RE transactions in my location. They only came into play because of divorce situations twice in 17 years.