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Benefits Of Buyer Agency
· Loyalty
The real estate agent must make decisions in the best interest of the buyer
· Obedience
The real estate agent must follow the lawful instructions
· Disclosure of all material facts
Examples but not limited to:
-Relationships between agent and other parties
-Existence of other offers
-Status of earnest money
-Seller’s financial condition
-The true worth of the property
-Commission split with other brokers
-Legal effect of important contract provisions
· Confidentiality
Includes discussions, facts, or information that should not be revealed to others, but does not include being responsible for fairness and honesty.
· Accounting in dealings
Once money has been placed in the hands of the broker, you must report where it is being kept.
· Skill and Care w/ Reason
Advice the buyer of a reasonable purchase price
Disclose any material facts that have been affirmed
Investigate the sale’s material facts
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