Client Level Service and the Buyer Agency Contract
Client-level service is a higher level of service. I will owe you the fiduciary duties of care, obedience, accounting, loyalty, including confidentiality, and disclosure.
For example, if you are a CLIENT, I will seek to negotiate the most favorable transaction terms for you and will not disclose any facts that could hurt your negotiating position.
If you are a client, I will:
• Pay full attention to your needs
•Tell you all that I know about the Seller at the property
•Keep information about you confidential
•Provide material facts, as well as professional advice
•Provide price counseling based on comparable properties and my professional analysis
•Protect and guide you
•Negotiate on your behalf
•Attempt to solve problems to your satisfaction
BY LAW IN PENNSYLVANIA THERE IS NO PRESUMPTION OF AGENCY. A LICENSEE DOES NOT REPRESENT YOU UNLESS YOU SELECT A BUSINESS RELATIONSHIP BY SIGNING A WRITTEN AGREEMENT.
The Benefits of a Buyer Agency Contract
Receive a higher level of service. If you have formalized a Buyer Agency Agreement, you can be expected to be treated like a client instead of a customer. What’s the difference? Clients are entitled to superior services as listed above compared to customers.
In almost every case, home sellers have already agreed to pay the buyer’s agent commission on your behalf. If the seller does not agree to pay your fee you have three choices:
• You can request for the seller to pay your fee as part of your offer
• You can pay the fee
• You can ask me to only show you properties where the seller has already agreed to pay the Buyer Agent Commission
A Buyer Agency Contract clarifies expectations; helping you to understand what you should and should not expect from me as your Buyer Agent and what I expect from you (which usually centers on loyalty)