Buyer Agency
When buying property through a Carolina Mountain Real Estate sales associate, you may be asked to agree to Buyer Agency Representation. As your Buyer's Agent, we take our job very seriously.
Carolina Mountain Real Estate
Duties to Buyer:
Your sales associate must:
- promote your best interests
- be loyal to you
- follow your lawful instructions
- provide you with all material facts that could influence your decisions
- use reasonable skill, care and diligence, and
- account for all monies they handle for you.
Once you have agreed (either orally or in writing) for Carolina Mountain Real Estate and its agents to be your buyer's agent, they may not give any confidential information about you to sellers or their agents without your permission so long as they represent you. But until you make this agreement with your buyer's agent, you should avoid telling the agent anything you would not want a seller to know.
Carolina Mountain Real Estate
Unwritten Agreements:
To make sure that you and your Carolina Mountain Real Estate sales associate have a clear understanding of what the relationship will be and what will be done for you; you may want to have a written agreement. However, we may be willing to represent and assist you for a time as a buyer's agent without a written agreement. But if you decide to make an offer to purchase a particular property, we must obtain a written agency agreement. If you do not sign it, we can no longer represent and assist you and are no longer required to keep information about you confidential.
Be sure to read and understand any agency agreement before you sign it.
Carolina Mountain Real Estate
Services and Compensation:
Whether we have a written or unwritten agreement, your sales associate (buyer's agent) will perform a number of services for you. These may include helping you
- find a suitable property
- arrange financing
- learn more about the property and
- other-wise promote your best interests.
If you have a written agency agreement, we can also help you prepare and submit a written offer to the seller.
We can be compensated in different ways. For example, we will seek compensation from the seller or listing agent first, or you can pay us out of your own pocket directly. Whatever the case, we will make sure our compensation arrangement with you is spelled out in a buyer agency agreement before you make an offer to purchase property and that you carefully read and understand the compensation provision.
Seller's Agent Working With a Buyer
If you do not want Carolina Mountain Real Estate to act as your buyer agent, you can still work with us. However, we will be acting as the seller's agent (or "subagent"). We can still help you find and purchase property and provide many of the same services as a buyer's agent. We will be fair with you and provide you with any "material facts" (such as a leaky roof) about the properties you choose.
But remember, we represents the seller—not you— and therefore must try to obtain for the seller the best possible price and terms for the seller's property. Furthermore, we are required to give the seller any information about you (even personal, financial or confidential information) that would help the seller in the sale of his or her property. We will tell you if we are acting as sellers' agents before you say anything that can help the seller. But until you are sure that we are not a seller's agent, you should avoid saying anything you do not want a seller to know.
Sellers' agents are compensated by the sellers.
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