As a first time home buyer or home seller, you have the benefit of finding a real estate professional to provide advice and promote your interests. Simply getting the help of an agent does not automatically mean that person is your buyer or seller agent. There is normally an agreement formalizing the agency, duties of the the agent, and your responsibilities. The following is information on why you should hire Bennington real estate agents.
Real Estate Agents Fiduciary
Federal real estate law requires that agents provide certain duties to their clients once they formalize an agency relationship.
Real estate agents are responsible for maintaining confidentiality. They may not reveal anything about your business, financial or personal affairs, or motivations unless mandated by their clients or ordered by a court to do so. This duty never expires beyond any closings or contracts.
Real estate professionals have a reasonable amount of knowledge of real estate matters and on the real estate process, but they are not experts in all real estate related fields (such as legal issues). For guidance on matters outside of their responsibilities, they must direct clients to the proper resources.
Agents must obey lawful instructions from clients. For example, sometimes clients ask their real estate agents to submit a low offer that the agent disagrees with. Agents must complete those requests despite the differing opinions.
Real Estate Agents must accurately follow the whereabouts of all money related to a real estate transaction. This refers to earnest monies given and the release of said deposits where applicable.
Real Estate Agents must promote the best interests of their clients above all other individuals, including themselves. Commission, especially in competing offer scenarios, should not be an influece and would be disloyal. Confidentiality is also considered part of loyalty.
Agents must perform tasks and comply with requests in a reasonable time frame. This can be vital when multiple offers are present. It is also important after a contract is in place with specific deadlines.
All agents must provide information on all material facts about a home,…often referred to as material facts. The duty to disclose also covers any information that may affect feelings about a home or benefit negotiating power.
Why You Should Hire Bennington Real Estate Agents
Selecting a real estate agent has many benefits. Beyond the items above, agents have an even more vital position of buffering communication between buyers and sellers. The home buying and selling process can be very complicated and emotional. Having the influence of a person who has your best interests but is emotionally detached can facilitate the process and lead to better results. This summarizes why you should hire Bennington real estate agents.
Call our office at 802-447-3210 and speak with one of our agents for more guidance in this matter.