No matter what price range of real estate you are selling, it is very important to safeguard your client’s privacy. As a broker or agent, you have a fiduciary responsibility. The dictionary defines it as “An individual in whom another has placed the utmost trust and confidence to manage and protect property or money.”
In our practice of commercial real estate, there were many times when were asked by building owners and developers to sign a “non-disclosure” agreement. They did not want any deal points or numbers to be disclosed to anyone. Similarly, when a high-end property is sold, the buyers have asked some of our clients to also sign an agreement to not release the final sales price. Some buyers maintain anonymity by having the title held by a corporation or trust.
It is tempting when one has closed a transaction with a high profile individual or company to tell all, and show off one’s feathers in the process. We would often get calls from newspapers asking us for details. However, even the slightest whispers or insinuations have a way of getting back to those involved, and your reputation can instantly be damaged. And, that can have a significant impact on future business.
As a luxury real estate marketing profession gaining a reputation for discretion can pay hefty dividends. It can also give you a competitive advantage.
Written by Ron & Alexandra Seigel-
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