As a home buyer or home owner, you have the benefit of hiring a real estate agent to provide support and protect your best interests. Simply contacting an agent does not ensure that person is your buyer or seller agent. There is commonly an agreement formalizing the relationship, duties of the the agent, and your duties. Below are important details on the benefits of getting representation from MA real estate agents. All references to “agent” refer to buyer or seller brokers.
Real Estate Agents Responsibilities
Federal law specifies that agents carry out certain duties to their clients after they formalize an agency relationship.
Providing Confidentiality
Agents are responsible for keeping all information on their client confidential. They may not reveal anything about your business, financial or personal affairs, or motivations unless asked by their clients or ordered by a court of law to do so. This duty remains active forever beyond any closings or contracts.
Care
Agents have a fair amount of knowledge of real estate related issues and on the home buying and selling process, but they are not experts in all real estate related fields (such as home financing). For information outside of the expertise of an agent, they must refer clients to the proper experts.
Obedience
Agents must obey their clients instructions, as long as the requests are lawful. For example, sometimes clients may ask their Realtors to prepare a contract that the agent does not agree with. Agents must comply with those requests despite the disagreement.
Accounting
Real Estate Agents must accurately monitor the whereabouts of all funds related to a transaction. This includes any deposits given and the return of said deposits.
Loyalty
Real Estate Agents must retain the best interests of their clients ahead of any other party, including themselves. Earnings, particularly in competing offer situations, should not be a factor and would be disloyal to clients. Confidentiality is also an import part of loyalty.
Diligence
Agents must perform tasks and honor requests in a timely manner. This can be imperative in multiple offer situations, so having an agent on your side will best protect your interests.
Disclosure
All agents must disclose important facts about a property,…often referred to as material facts. The duty to disclose also covers any facts or details that might influence decisions about a home or benefit their negotiating power.
The Benefits Of Getting Representation From MA Real Estate Agents
Hiring an agent has many advantages. In addition to the items above, agents have an even more important role of facilitating interactions between parties. The home buying and selling process can be very stressful and emotional. Having the advice of a person who recognizes your best interests but is not emotionally involved can facilitate the process and lead to better conclusions. This sums up the benefits of getting representation from MA real estate agents. Contact Christopher Graves at 781-759-1200 x22 or christopher.d.graves@gmail.com for more advice.
