Buyers Have the Right to their Own Representation
There have been a couple of blogs recently - and one not so recently - that I have been meaning to re-blog. They all deal with agency issues, disclosure & the right to buyer representation. Rather than re-blogging each one, I decided to tie them all together in one blog post. Please read the original posts. They are all excellent.
Most recently, there was Carol Ann Palmieri's It Is Always Your Choice Who to Use as Your Realtor where Carol tells of a "friend" who emailed her to apologize because she was buying her home from another agent. The friend says that she emailed the listing agent to inquire about the house, went & saw it and felt that she had no choice but to use the listing agent's mortgage company and sign a Purchase & Sale Agreement right away or risk losing the house. Maybe the friend knew what she was doing or maybe she felt pressured by the listing agent. Either way, she did have a choice.
Before that there was J. Philp Faranda's What You Must Know About Dual Agency if You Are Selling A New York Home: The lesson applies even if you are selling or buying a home in Massachusetts. In this post, Phil does an excellent job explaining agency and who represents whom. It was a clear, concise and honest explanation of the fact that the listing agent's client is the Seller. A buyer who may come to him is a customer and without his/her own agent, is going through the transaction unrepresented. It was such a good post that the National Association of Exclusive Buyer Agents recently linked to it on its Facebook Page.
A few months ago, there was Nina Rogoff's Is Your Realtor Starting Off on the Right Foot? where Nina explains that all agents must present consumers with the Massachusetts Mandatory Licensee Disclosure Form, with an emphasis on MANDATORY, prior to working with that consumer. The purpose of the form is so that consumers understand whom the agent represents. A potential buyer, for example, must be informed if the agent is working as a Seller's Agent, a Buyer's Agent, a Designated Buyer's or Seller's Agent or a Dual Agent (among other choices).
Believe it or not, I recently witnessed a situation where an agent had the buyer sign this disclosure AT THE CLOSING! The agent was representing the Seller. The buyer was unrepresented. (I was at the closing as an attorney, not as an agent & not on behalf of the buyer.) The buyer went through the entire process without it being disclosed whom the agent was representating - a clear violation in Massachusetts.
The listing agent represents the Seller and that is where his or her duty lies. That is their obligation, plain and simple. It should not be a secret. The three agents I mention above are honest and ethical and are quite up front about how agency works. If you are selling your home in one of their areas, you would do well to hire them. They will represent you well. If you are a buyer, I am confident that they will disclose and explain agency to you.
Buyers have the right to their own representation. Just as the Seller's interests are represented, so should the Buyer's interests be represented. If you are considering buying a home, then do your research and find a good buyer's agent to assist with your search. If you are interested in a certain home, ask your buyer's agent to arrange a showing.
I may be crazy but I tell my potential clients this at our first meeting, that it is important that they have their own represenation whether it is me or somebody else. Of course, I think that I would provide them with the best representation as an Exclusive Buyer Agent and Attorney but if they choose not to work with me, I tell them please do not go it alone.
If you are considering buying a home in Canton MA, Milton MA or a surrounding Norfolk County community, contact your Canton MA Buyer Broker for 100% buyer representation.
We do business in accordance with the Federal and Massachusetts Fair Housing Laws.
The content provided on this blog is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action.
Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field.
(c) Copyright 2010-2015 Christine M. Smith, Attorney and Buyer Agent. All rights reserved.