Buyer's Center

Comparison of Agent's Obligations


The chart below compares the services and duties that different types of agents should provide to buyers with whom they are working. Most agents today work as "casual" buyer agents, i.e., they may work for the buyer until the time comes to write an offer. If the buyer wants to buy one of the agent/agent's company listings, the representation ceases and the agent becomes a dual agent (in North Carolina). If this situation occurs, both the buyer and seller must agree to the dual agency and what it means. At this point, the "former" buyer agent becomes a "facilitator" and can no longer "represent" the buyer. No advice, counseling, or assistance in framing the offer or negotiating toward a contract.
 
( Y) Services that an agent should provide to buyers. Because exclusive buyer agents work only with buyers, they can provide 100% representation 100% of the time. "Casual" buyer agents can provide 100% representation, but ONLY if they do not represent the seller of the property that the buyer wants to purchase.
 
( N) Services that an agent should not provide to buyers, because they are already legally obligated to represent the seller's best interests as determined in the listing agreement.
 
 
( S) Services that a "casual" buyer agent provides sometimes - only when the buyer does not want to buy a property listed by the agent/agent's company. If the buyer wants to buy another company's listing, the agent must honor the terms of the Buyer Agency Agreement.
 


Services Provided

Sellers Agent

 Casual Buyer's Agent Exclusive Buyer's Agent (Buyers Only)
Average property showing

Y

Y

Y
Explain financing options

Y

Y

Y
Provide accurate information

Y

Y

Y
Explain forms and agreements

Y

Y

Y
Monitor Closing

Y

Y

Y
Prepare a property value study

N

Y

Y
Keep your position confidential

N

Y

Y
Promote and protect your interest during the entire buying process

N

S

Y
Negotiate the best price and terms for you

N

S

Y
Pass on information that may enhance your bargaining position

N

S

Y
Assist in writing an offer with your best interest in mind

N

S

Y
Expose you to both MLS listed and unlisted properties

N

Y

Y
Provide anonymity if desirable

N

Y

Y
Research the seller

N

S

Y
Research the property and give you reasons not to buy a property

N

N

Y

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