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The Power of Confidence: A Fiduciary’s Obligation and the Process of Success

This is something that any consumer hopes that their agent has in abundance.  If their agent projects that they are confident, they know that they know how to get things done, efficiently and in a timely manner.  This is something that all agent’s hope they project when they first start to speak to a client or address a potential client.  But because I am a bit of a wordsmith, let’s take a closer look at the word confidence itself.

If you look at the Italian language, their word for confidence which comes to them directly from Latin is: Fiducia.  It is not a great leap to realize it is from this word that we derive our word Fiduciary in the English language.  This word is reviewed and analyzed in every Introductory to Real Estate course in the United States because agents will function as fiduciaries with their clients.  A fiduciary is a person who establishes great trust. Clearly, if they are a trusted advisor it is because at some point they must have conveyed that they had confidence.  They displayed confidence in themselves, and that they were the right person for the job, and as we mentioned before, they could get the job done. But let’s take an even closer look at what their obligations as fiduciaries actually entail.

So let’s get into the Old Car.  That’s the acronym for all of the obligations that a fiduciary assumes when they enter the equation. These duties are but are not restricted to: Obedience, Loyalty, Due Diligence, Confidentiality, Accountability and Reasonable Care.  Part of the reason why your agent should be confident is because they know what needs to happen under the category of Due Diligence.  When an agent is doing their job, they will clearly project confidence in themselves.   The client will see it and feel it.  In the end, it becomes a chicken and the egg thing.  Which comes first?  Is the agent confident because they are just very self assured, or are they confident because they are sticking to a process that they know works.  It is not an accident that doctors follow a seriously specific process when they prepare a patient for surgery.  They prepare the patient (for Pre-op), they gather the appropriate personnel (surgical teams, anesthesiologists, nurses, etc.) They make sure the proper instruments are all laid out before the first incision is made, and in general rely on a process that has shown itself to be a success time and time again.  A good agent does the same thing. They are confident because they know the process is almost more important than they are, and because of this, it becomes nearly impossible for you to not see and acknowledge the confidence they project.  Because they are confident, they will not shy away from having those difficult conversations that require them to tell you what you need to know rather than what they want to hear.  Understandably, it is not the favorite part of the doctor’s job, to give you bad news or tell you that the prognosis is terrible, but they have been trained to have the confidence to know when they have to have those unpleasant conversations.  Your agent, likewise, has been similarly trained.  That being said, when we consider the “Reasonable Care” portion of their fiduciary obligation, it becomes no great leap when the agent you hired, (knowing that they have taken the time to address the reasonableness of their care) would certainly project even more confidence in themselves and to you as well.

“Hey, I wrote the book on Real Estate, literally.”

Author Brendan J. Cunningham is a New York Licensed Associate Real Estate Broker, lead of the Platinum Team at HusVar Real Estate, as well as an accomplished writer, Shakespearean trained professional actor, and podcaster.
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