The role of Real Estate Agents can be confusing to many buyers and sellers. As such New York State requires that all Real Estate Agents provide an Agency disclosure Form for both Buyer's and Seller's to review and sign.
This form is a disclosure, and not an agreement. It discloses the various agency relationships, and outlines which one your agent is offering. It is important that you review this disclosure form, and ask any questions you may have prior to signing it.
At the Julia Shildkret Real Estate Group we take a simple, straight forward approach to helping our customers and clients buy and sell real estate.
Traditionally, Real Estate Agents, represents the seller in any transaction for the sale of a home. It is that Agent's fiduciary responsibility to protect the seller's position at all times. Real Estate agents who represent sellers are working in a single agency capacity as a Listing Agent. Buyer Specialists that take you out to see homes that are not their listings, are considered Sub-Agents to the Seller's Agents, and also represent the Seller in all transactions. Unless, you have a signed/dated Buyer's Broker Agreement with that Agent.
The Julia Shildkret Real Estate Group is pleased to now offer our Buyer's the opportunity to decide whether or not they want to be represented by a Buyer's Agent or not.
A Buyer's agents that represent buyers are working in a single agency capacity as a Buyer's Agent. Buyer's Agents and the buyer sign a Buyer's Broker Agreement, which lays out the duties and obligations of the agent. In New York State, if buyers do not sign a Buyer's Broker Agreement with the agent prior to seeing a home, that agent does not represent the buyer, but instead becomes a sub-agent of the seller by default.
Some advantages to working with a Buyer's Agent are as follows:
- The Agent can develop a CMA (Comparable Market Analysis), revealing at what price similar properties in the area have been listed for and sold for.
- The Agent can reveal to you any information about the seller that the Agent has been able to ascertain. This may include reasons for selling, potential concessions, or other information that may be to your advantage.
Information about property value trends that may influence your decision about a certain area can be relayed to you.
- Unbiased look at the entire market, including For-sale-by-Owner properties.
- Exclusive representation with no chance of seller representation.
- Extensive information provided on the home and neighborhood.
Call the Julia Shildkret Real Estate Group today at 718-591-5000 to learn how a Buyer's Agent can help you find your new home!
