What Buyer Interests Are Protected Under This Agreement?

There are 6 fundamental duties of an agent to his 'Client':

1) Accountability

2) Competency

3) Confidentiality

4) Loyality

5) Obedience

6) Full Disclosure

Does A Buyer Have The Choice To Accept Or Decline?

Yes, a buyer has the choice to accept or decline the Buyer Representation Agreement as offered by the agent. If a buyer chooses to decline this agreement, he/she defaults to 'Customer' status.

What Protection Does A Buyer Have With 'Customer' Status?

The agent is not legally bound to provide the buyer with the protection as described above. The buyer with 'Customer' status is owed only the following:

1) Answer questions honestly and accurately.

2) Be ethical and fair.

3) Make no misrepresentations.

Is There A Risk With Choosing 'Customer' Status?

Yes, there is a GREAT risk that your interests will NOT be protected. Let me explain it in the following scenario:

- You are a buyer who wishes to retain 'Customer' status and not 'Client'.

- You want an agent to represent you in the purchase of a home.

- That home is listed by your representative or another representative at the same office

Under the above scenario, your agent is legally bound to inform the seller everything you told him/her in confidence, including your price and your motivation to purchase that home. This is because under agency law, all sellers in a Listing Agreement with that Brokerage office, are entitled to fiduciary protection by all sales representatives who are employed at that Brokerage.

What's The Bottom Line?

It is without a doubt, much safer to sign a Buyer Representation Agreement. It legally binds your agent to protect your interests.

Most importantly, you are now on the same level playing field as the seller with respect to protecting your interests.

Above all, talk to me about your concerns. I will listen to you. The relationship with all my clients is based on trust!! I will protect your interests!! Call me and let's talk!!