Real Estate Buyer Agency in Boston, Massachusetts

"Joe worked for my wife and me as a buyer's agent, searching for a home in the Boston area. He had extensive knowledge of the area and was very capable in helping us identify our needs, narrow our search, and target the best properties for us. He spent a lot of time with us on our search and always made us feel like we were his only clients. We ended up buying a great home in a great location at an affordable price (in Boston, that's saying a lot!)." Andrew and Vesna G; Hired in 2008, 2012, and 2019

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What is Buyer Agency?

NOTE: At your first meeting (either physical or electronic) where you discuss particular properties, the Commonwealth of MA requires by law that I present you with the Massachusetts Mandatory Licensee Relationship Disclosure. This is NOT A CONTRACT. It does not obligate you to me. It's purpose is to make you aware of the fiduciary relationship I have with you. As a buyer agent, you will find these duties below

This is the relationship formed between consumer and the real estate agent who represents him/her in a real estate transaction. This is called a fiduciary relationship. The buyer agent represents you and only you.

Here are just a few of the ways the buyer agent is legally obligated to you, the buyer:

Obedience:

As your buyer agent, I can only offer you my advice; I must obey your instructions, as long as they do not violate the law or NAR ethical guidelines.

Loyalty:

As your buyer agent, is my duty to advocate for you and you alone. It is my duty to help you find the correct home or condo for you, and not advocate for any other entity. It is my duty to negotiate in your best interest. The agent owes his/her allegiance to the client and only the client. This costs you nothing. The seller pays the commission.

Disclosure:

It is my fiduciary duty to provide to you all material facts known by me regarding the property, the seller's motivation, or any other matter relevant to a transaction or a potential transaction. 

Confidentiality:

As your buyer agent, I am prohibited from disclosing anything having to do with your motivation, business, financial or personal affairs, willingness to pay a particular price other than what you offered, or any other matter that you do not give me express permission to disclose.  This loyalty survives the transaction.

Accountability:

It's my duty to be accountable for all monies and all documents related to a transaction; To report accurately as to the location of all funds involved in the transaction.

Reasonable Care/Due Diligence:

 It is my fiduciary duty to employ my professional skills, knowledge and expertise competently. I am responsible for discovery and investigation, where possible to be known, of all facts and situations relevant to a transaction. I am a Realtor. That's what I do. If other professional skills are required, I must refer you to specialists in that field. Examples would be attorneys, roofers, electricians, home inspectors, plumbers, etc.

Why does buyer agency matter?

It matters because finding and transacting real estate in Boston or anywhere else, is a complex process with serious potential pitfalls at every level. An experienced, professional buyer agent has a legal fiduciary obligation to guide you through this process to the best of his or her ability, and to always remember who he or she is working for: You. And you have a right to the best help available.

Designated Buyer Agency:

This is a common occurrence. If I, as a Gibson Sotheby's agent show another Gibson Sotheby's agent's property, I will still owe you all the fiduciary obligations I otherwise would, as would the listing (seller's) agent, to his or her seller (including loyalty and confidentiality). This makes sense because, among other things, we are independent contractors.

Dual Agency:

This occurs when one agent has both the listing and the buyer client. In that case, confidentiality and accounting still apply, but the agent becomes more of a facilitator otherwise.

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