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Buyer Agency
Buyer agency is a relationship where the licensee, upon entering into a written agreement, works only for the buyer/tenant.
Buyer's agents owe the additional duties of:
• Loyalty to the buyer/tenant by acting in the buyer's/tenant's best interest.
• Confidentiality, except that a licensee is required to disclose known material defects about the property.
• Making a continuous and good faith effort to find a property for the buyer/tenant, except while the buyer/tenant is subject to an existing contract.
• Disclosure to other parties in the transaction that the licensee has been engaged as a buyer's agent.
A buyer's agent may be paid fees, which may include a percentage of the purchase price, usually paid by the seller/landlord, and will represent the interests of the buyer/tenant.
A buyer's agent may represent you and show you any listing in the MLS service. Buyer's agents may also represent you and go with you to view private seller's properties. If handled properly, the buyers agents fee can be a percentage of the purchase price and paid by the seller just as if the property were listed.
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