The Role Of An Agent

Why You Should Work With A Buyer's Agent!

In Massachusetts, prior to 2005, the “policy of agency” (who an agent represents) was that both the listing agent and the selling agent represented the seller.  In other words, all agents represented the seller.  Sellers hire listing agents to work on their behalf to provide service, expertise and guidance in the sale of their property.  With the introduction of “Buyer Agency”, buyers now have that same option.  They, too, can elect to hire an agent to guide them through the many phases and potential pitfalls of purchasing a home!

In 2005 agency representation changed dramatically.  The new changes benefit both buyers and sellers:

(1) All listing agents are seller's agents and must work ONLY AND ALWAYS in the best interest of the seller.  You should not tell a listing agent anything that you would not tell the seller yourself.  If you just inherited $100,000, for example, keep it to yourself!  If you tell that to a listing agent every one of the seller's they work for will soon know it too!  It's not because they love to gossip.  Their listing contract obligates them to pass all "inside information" like this along.

(2) When agents work with buyers they are called selling agents.  All selling agents are facilitators.  Just as the name implies, a facilitator assists the buyer and seller in reaching an agreement.  A facilitator does not represent either the buyer or the seller but "facilitates" the transaction.

(3) A buyer's agent is a selling agent that must work ONLY AND ALWAYS in the best interest of their buyer client.  An agent becomes a "buyer's agent" once a buyer contract has been signed by both parties.

The role of a Buyer’s Agent is to always represent the best interest of the Buyer.  Buyer representation demands a manner of conducting business that favors the Buyer with the highest standards of care and service!

When we represent a Buyer we promise to provide a “CARLOAD” of benefits!  We Promise:

C – Confidentiality!

A – Accounting! (It is our responsibility to protect our client!)

R – Reasonable Care And Diligence!

L – Loyalty!

O – Obedience To Lawful Instructions!

A – Accountability (For our actions!)

D – Disclosure!

Will a Buyer need to sign a “Buyer Agent Agreement”?

The short answer to this question is yes!  However, although many Buyers prefer to do so, it is not mandatory for a Buyer to sign a “Buyer Agent Agreement” at the initial contact with an agent.  The Buyer should keep in mind that the benefits of confidentiality, loyalty and service can only begin once a “Buyer Agent Agreement” contract has been signed! 

What about new homes, new subdivisions and a new construction purchase?

Yes, we can represent a Buyer in a new construction purchase!  A builder builds and sells homes for a living and obviously knows the benefit of having their own sales representative.  A buyer would be wise to follow suit with someone to represent their best interests too!

Buyer Representation is there for YOUR BENEFIT! 

Please don’t hesitate to call or email us with your questions!

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