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11. Do I want representation when I buy?
Answer - Yes! Without representation you are treated as a customer. An agent that is working with you, but NOT representing you, owes allegiance to the seller. An agent's responsibility in this case is to get the seller the most money and not to represent your best interests in the transaction.
In all cases, an agent must treat you fairly and equitably. For example; an agent would have to disclose a leaky roof to you if that condition was known to the agent.
With agency representation come's a fiduciary obligation with increased liabilities to the buyer.
Why wouldn't you want someone looking out for your best interests when making the most expensive purchase of your life?
Representation and the potential liabilities surrounding it are viewed as so important by real estate companies, that many companies insist a buyer have representation or they will not allow their agents to work with you. In addition, many companies will not pay a cooperative commission to another company
unless the agent who brought the buyer represents that buyer.
Back to the Agency FAQ's
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