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What a Real Estate Licensee can and cannot do
for a Buyer
What a Real Estate Licensee can do
for a Buyer without entering into a written Buyer Agency
Agreement
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Give
Buyer property information
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Give
the Buyer information on the licensees firm
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Give
the Buyer information on mortgage rates and
lending institutions
What a Real Estate Licensee can do
under a Buyer Agency Agreement
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Arranges
property showings that meet the buyers
needs
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Helps the buyer obtain
information about the home or property,
schools, taxes, utilities and zoning
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Prepares a competitive market
analysis on the property
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Counsels the buyer on what price
to offer the seller
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Assists in making an offer with
the buyers interest in mind by showing
what other buyers are paying for
property in the area
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Negotiates the best price and
terms for the buyer
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Keeps the price capabilities and
objectives of the buyer confidential
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Assists with the loan
application process
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Monitors all dates, events and
requirements for the buyer
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Attends the closing with the
buyer
What a Real Estate Licensee can not do unless either
(1) a written Buyer Agency Agreement is entered
into, or (2) the Real Estate Licensee is going to
represent the seller and has presented the Buyer
with an Agency Disclosure stating that the Licensee
represents the seller
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Ask
the buyer to disclose confidential
information (including information about the
buyers financial status, reasons for
purchasing, etc)
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Express
an opinion or give advice about particular
real estate
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Physically
show the Buyer in-house listings
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Physically
show the Buyer property listed with another
brokerage firm
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Discuss
an offer with the buyer
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Engage
in any verbal or written negotiations
concerning purchase price, terms or
conditions
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DATA Inc. © 2004
Email:
dfriedman@prudentialct.com
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