We have been receiving numerous emails and phone calls from people asking questions regarding Buyer's Agency. Probably the easiest way to explain this agreement is to understand that in real estate transactions, buyer-clients are entitled to a higher level of service than buyer-customers. Becoming a client involves signing a Buyer's Exclusive Agency Contract with your realtor, who then owes you fiduciary duties. This means that your buyer's rep is expected to exercise discretion when acting on your behalf, including adhering to very specific responsibilities, obligations and high standards of good faith and loyalty.

For example, if you're a client, a buyer's agent will seek to negotiate the most favorable transaction terms for you and will not disclose any material facts about your situation that could hurt your negotiating position. If, however, you are only a customer, a buyer's rep may not be in a position to answer even basic questions such as "Why are they selling?" or "Is this home priced competitively?" This is because they are acting instead as a sub-agent for the seller.

 

If you are a CUSTOMER

(No fiduciary relationship, an agent will:

If you are a CLIENT

(fiduciary relationship), your agent will:

 

  • Maintain loyalty to the seller’s needs

 

  • Tell the seller all they know about you

 

  • Keep information about the seller confidential

 

  • Focus on the seller-client property

 

  • Provide just the material facts

 

  • Only provide price information that supports the seller’s listing price

 

  • Protect the seller

 

  • Negotiate on behalf of the seller

 

  • Attempt to solve problems to the seller’s advantage and satisfaction

 

 

  • Pay full attention to your needs

 

  • Tell  you all that they know about the seller

 

  • Keep information about you confidential

 

  • Focus on choices that satisfy your needs

 

  • Provide material facts and professional advice

 

  • Provide price counseling based on comparable properties and their professional insights

 

  • Protect and guide you

 

  • Negotiate on your behalf

 

  • Attempt to solve provlems to your advantage and satisfaction

 

 

While this is not a comprehensive list of items, it is a general overview of how working together, we can provide you the best possible results with your Real Estate transaction.

Click HERE is link does not play

Gary M. Brennan