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DO I NEED A BUYER’S AGENT?
BUYERS AGENCY
It’s recommended. With buyer agency, your interests will be represented in the
purchase of your home.
As a part of a mutual agreement, you can elect to create a buyer agency
relationship that will entitle you to the fiduciary level services that include
but are not limited to:
Loyalty – The real estate agent must act in the best interest of the
buyer.
Obedience – The agent must follow lawful and ethical instructions.
Disclosure – All material facts such as 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,
and legal effect of important contract provisions.
Confidentiality – An discussions, facts or information that should not be
revealed to others but does not include responsibility of fairness and honesty
in dealings with all parties.
Accounting in Dealings – Reporting of where any money placed in the hands
of the broker is kept.
Reasonable Skill and Care – Arriving at a reasonable purchase price and
advising buyer of such, affirmatively discovering material facts and disclosing
them to the buyer, investigating the material facts related to the sale.
Agency is a legal relationship and a written agreement should be completed to
explain all the duties and responsibilities.
Real Estate Buyer's Agent Council
Please visit the REBAC
website for information on Buyer's Agency
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