As a home buyer or seller, you have the benefit of hiring a real estate professional to provide recommendations and protect your best interests. Simply contacting an agent does not ensure that individual is your buyer or seller agent. There is commonly a document formalizing the agency, role of the the agent, and your responsibilities. Below is information on the advantages of being represented by Waltham MA real estate brokers.
Real Estate Brokers Duties
Federal law mandates that real estate agents fulfill certain responsibilities to their clients once they formalize an agency relationship.
Agents are responsible for maintaining confidentiality. They may not reveal information about your business, finances, or motivations unless authorized by you or mandated by a court of law to do so. This fiduciary never goes away even after the relationship ends.
Real estate professionals have a reasonable amount of knowledge of real estate topics and on the home buying and selling process, but they do not have expertise in all real estate related fields (such as home inspections). For guidance on matters outside of their knowledge, they must guide clients to the proper experts.
Agents must comply with their clients instructions, as long as the requests are lawful. For example, sometimes clients ask their Realtors to prepare a contract with terms that the agent disagrees with. Agents must comply with those instructions despite the disagreement.
Accounting for Funds
Agents must accurately keep track of the whereabouts of any money related to a real estate transaction. This refers to security deposits given and the return of said funds where necessary.
Real Estate Agents must maintain the best interests of their clients ahead of any other individuals, including themselves. Commission, particularly in multiple offer scenarios, must not be a factoran influece and would be disloyal. Confidentiality is also an aspect of loyalty.
Agents must complete responsibilities and comply with requests in a timely manner. This can be critical in multiple offer situations. It is also important once a home is under contract and must meet specific deadlines.
All real estate agents must provide details on important facts about a home,…often referred to as material facts. The responsibility to disclose also covers any details that can influence feelings about a listing or affect negotiating power.
The Advantages Of Being Represented By Waltham MA Real Estate Brokers
Hiring a real estate agent has many benefits. Beyond what is listed above, agents have an even more vital position of influencing communication between buyers and sellers. The real estate process can be very complicated and emotional. Having the guidance of an individual who recognizes your best interests but is not emotionally involved can facilitate transactions and lead to better results. This sums up the advantages of being represented by Waltham MA real estate brokers. Contact Bradford Pratt at 781-316-5760 or email@example.com for more advice.