If you want a higher level of service from your agent in a real estate transaction, you need to know the difference. Buying a home is one of the largest purchases you’ll make and knowing the agent is in your corner can bring much needed peace of mind during a stress-filled process. The chart below helps to illustrate some of the advantages you will have as a Client.
Your services will vary, depending on if you are a Customer or a Client:
How you become a client depends on the state you live in, but often involves signing a Buyer Representation Agreement. [Not every state requires a signed Buyer’s Representation Agreement to establish representation so be sure to check out your state’s rules.]
Once representation is established by signing the Buyer Representation Agreement, you become a client and your agent owes you fiduciary duties meaning they must exercise discretion when acting on your behalf, including obeying very specific responsibilities, obligations, and high standards of loyalty. Your buyer’s agent will work to negotiate the contract terms to meet your goals and not hurt your negotiating position by disclosing any material facts about your situation.
BOTTOM LINE:
Having someone in your corner who has duties to keep your best interests at heart above all else is essential during a real estate transaction. Be sure to discuss with your agent how to become a Client!