2 You Can Become a Client
Clients receive more service than customers. If client status is offered by the real estate Company, you can become client by entering into a written agency agreement requiring the Company and its associated licensees to act as an agent on your behalf and promote your best interest. If you choose to become a client, you will be asked to confirm in your written representation agreement that you received this brochure in a timely manner
A seller becomes a client of a real estate Company by signing a formal listing agreement with the Company. For a seller to become a client, this agreement must be in writing and must clearly establish the terms of the agreement and the obligations of both the seller and the Company which becomes the agent for the seller.
A buyer becomes a client of a real estate Company by signing a formal buyer agency agreement with the Company. For a buyer to become a client, this agreement must be writing and must clearly establish the terms of the agreement and the obligations of both the buyer and the real estate Company which becomes the agent for the buyer .
If you enter into a written agency agreement, as a Client, you can expect the real estate Company to provide the following client-level services.
- Reasonable care and skill
Client-level services also include advice, counsel and assistance in negotiations
When the Company represents only one client in the same transaction (the seller or the buyer), it is called single agency.
Dual Agency exists when the real estate Company has two clients in the same transaction - a seller client and a buyer client
At the time you sign an agency agreement, you may be asked to acknowledge whether you would consider giving written consent allowing the Company to represent both you and the other client in a disclosed dual agency relationship.
Disclosed Dual Agency
In a disclosed dual agency, the Company's representation duties are limited because a buyer and seller have recognized conflicts of interest. Both clients' interests are represented by the Company. As a disclosed dual agent, the Company and its associated licensees cannot advocate on behalf of one client over the other, and cannot disclose confidential client information concerning the price