Working with a Broker
Real Estate professionals come in all shapes and sizes, but the one thing that they will always be is either a licensed Broker or Salesperson, either of which might be referred to as an Agent. Each state has it’s own regulations, but a salesperson has usually taken at least twenty hours of classroom instruction and passed an exam. A broker has worked as a Salesperson for at least one or two years, taken an additional thirty or more hours of instruction, and passed a Broker’s exam. A broker can function independently, but a salesperson must work for a broker.The first time you meet with a broker or salesperson, they should explain to you the type of Agency Representation they are offering you. It used to be most common to have the broker or salesperson act as a Seller’s Agent. This means they have a legal obligation to "…present properties honestly and accurately…" to the buyer, but their fiduciary relationship is with the seller, i.e., they must put the seller’s interests first. Recent changes in the laws have resulted in the virtual demise of sub-agency, so you are most likely to be working with a Buyer’s Agent, someone who puts the buyer’s interests first, especially if you are looking at a wide range of properties, listed with different agencies. Again, ask questions. Make sure you’re totally comfortable with the individual and have confidence in their ability to help you.
Once you’ve settled on a broker or salesperson, make sure you tell them exactly what you want. It’s absolutely vital that you are as clear as possible as to your needs, likes, and dislikes. When you view a home with your broker or agent, give them honest feedback so they can fine-tune their efforts on your behalf and better guide you through the process.
See an Agency Disclosure Form