Buying a Home

Buyer’s Agent:
When a buyer engages the services of a broker then that buyer becomes the broker’s client. This means the broker represents the buyer. The broker owes the buyer undivided loyalty, utmost care, disclosure, obedience to lawful instruction, confidentiality and accountability. The broker must put the buyer’s interest first and negotiate for the best price and terms for his/her client, the buyer. (The buyer may also authorize subagents to represent him/her in locating property.)

Under the Buyer Agency our firm and our sales agents act as Agent for the Buyer only and consequently have the following additional affirmative obligations:

	To act at all times solely in the Buyer’s best interest
	To obey the Buyer’s instructions and to disclose all relevant information to the Buyer
	To safeguard the Buyer’s confidences and to act with reasonable care and skill in representing the Buyer
	To deal fairly, honestly and professionally with the Seller.

As an example, under Buyer Agency, the Agent would not, without the express permission of the Buyer, disclose to the Seller that the Buyer would pay a price greater than the initial offer. Specifically, as an Agent for the Buyer, we are obligated to disclose to the Buyer:

	The willingness of the Seller to accept a lower price
	Any facts relating the urgency of the Seller’s need to dispose of the Property
	The Broker’s/Agent’s relationship to, or interest in, the Seller or the Property for sale
	Any facts affecting the value of the Property
	The length of time the Property has been on the market and any other offers or counteroffers that have been made relating to the Property
	Any other information that would affect the Buyer’s ability to obtain the Property at the lowest price and on the most favorable terms.

When a Buyer decides to engage a Home Center Agent as THEIR Broker, an exclusive Buyer Broker contract is signed.

When should you as a Buyer be a client?

	Buyer who requests anonymity – must be Buyer Client
	Relative – must disclose they are, even if they remain customers
	Close friend
	Business associate/partner of agent or agent’s spouse
	Former client
	Known future client
	Out of town Buyer
	Buyer who wants and/or needs representation
	Buyer who wants agent to assist at auction
	When Buyer wants income property analysis
	When Buyer is being shown a FSBO (For Sale By Owner)