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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 acts as
Agent for the Buyer and consequently has the following additional affirmative
obligations:
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 To act at all times solely in the
Buyer's best interest |
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To obey the Buyer's instructions and to
disclose all relevant
information to the Buyer |
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To safeguard the Buyer's confidences and
to act with reasonable
care and skill in representing the Buyer |
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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:
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The
willingness of the Seller to accept a lower price |
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Any
facts relating the urgency of the Seller's need to dispose of the Property |
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The
Broker's/Agent's relationship to, or interest in, the Seller or the Property
for sale |
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Any
facts affecting the value of the Property |
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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 |
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Any
other information that would affect the Buyer's ability to obtain the
Property at the lowest price and on the most favorable terms. |
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