As part of a mutual agreement, you can elect to create a buyer agency relationship between us that will entitle you to the fiduciary client level services that include:
- Promote Client's Interest
The real estate agent must act in the best interest of the buyer - Perform to Contract
Must follow the lawful instructions in accordance with the contract - Disclosure of all Material Facts Having Actual Knowledge of
- Examples but not limited to:
- Relationships between agent and other parties
Existence of other offers
Status of earnest money
Seller's financial condition
Property's true worth
Commission split with other brokers
Legal effect of important contract provisions
- Confidentiality
Any discussions, facts, or information that should not be revealed to others but does not include responsibility of honesty in dealings with all parties - Reasonable Care
Arriving at a reasonable purchase price and under terms acceptable to buyer and advising buyer of such Presenting all written offers or counteroffers in a timely manner - Accounting in dealings
Reporting of where any money placed in the hands of the broker is kept
As a buyer's agent, we will represent you and your interests in the purchase of your home. This is different from a typical sub-agency transaction where the buyer is not technically represented.
However, the selling agent has the duty to exercise reasonable skill and care in the performance of the Broker's duties. This is a duty of honest dealing and a duty to disclose all facts known to the broker which materially and adversely affect the consideration to be paid for the property.
A dual agency situation can arise if we have entered into an agency relationship and subsequently we look at a property listed with our company. This is a potentially challenging situation because it is difficult to afford both parties full client level services.
Dual agency should only be entered into with the written agreement of both buyer and seller.
Agency is a legal relationship and a written agreement should be completed to explain all the duties and responsibilities.
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