As a property buyer, you should know that the listing
and selling brokers generally are seller’s
agents because the listing agreement serves as a
contract employing the broker and selling agent to sell
the property on the seller’s behalf. Seller’s
agents have a fiduciary duty of loyalty,
confidentially, full disclosure and accurate accounting to the
seller. However, while neither the listing nor selling broker
is your agent, they are of course able to provide you with a
variety of valuable market information and assistance in your
decision to buy real property.
You should also know
that you may choose to obtain buyer’s
agency representation from a lawyer or a real
estate broker, or both. Buyer’s agents
have a fiduciary duty of loyalty, confidentially, full
disclosure and accurate accounting to the
As a Buyer’s
Agent, I contract specifically with the buyer to
represent the buyer instead of the seller (*). In this
capacity, I consult with you about any matters concerning the
property you want to buy and may be able to find property for
you that is not even currently listed on the market.
Historically, customers that I have represented as a
Buyer’s Agent found the agreement
valuable and useful.
If you choose to have me represent you as
a Buyer’s Agent, you must:
- Enter into a written contract that
establishes the obligations of both parties.
- Specify how your agent will be compensated.
- Inform other brokers that you come in
contact with that you have retained the services of a broker
to work on your behalf as a Buyer’s
Finally, before you disclose confidential
information to a real estate licensee regarding a real estate
transaction, you should understand what type of agency
relationship you have with that licensee. This can be
accomplished by taking a moment to review our "Agency
Disclosure Form". For more information, please ask4val.
(*) Employing an existing
seller’s agent as a buyer’s agent forms a
dual agency. Val will explain what this means if it
applies to your situation.