My brokerage is going to practice “split” agency. To protect confidential information, am I going to have to start locking up my files?
That could be something brokerages do, but it is not specifically required. A less restrictive way would be to have general files that contain information that is not confidential. For example, on your listings this generic file would have in it information the seller would be willing to share with buyers and their agents. This could include the fact sheet, a picture of the property and other general information. This file would be available to all agents in the brokerage. The listing agent would then keep in a personal file information that is confidential in nature. This file would need to be kept in a manner so that it is not available to other licensees in the brokerage, who could potentially represent a buyer of that property.
Related Questions
- Sometimes clients leave messages with the receptionist that may contain confidential information. If we practice "split" agency, how should these be handled to protect this information?
- How can a brokerage that practices "split" agency handle faxes coming into the office that could be confidential?
- Are there any procedures LFC might use to protect confidential information it requests from an agency?
