Benefits of Buyer Agency

LOYALTY:

The real estate agent must act in the best interest of the buyer.

OBEDIENCE:

Must follow the lawful instructions

DISCLOSURE OF ALL MATERIAL FACTS:

Examples, but not limited to:

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

Legal effect of important contract provisions

CONFIDENTIALITY:

Any 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.