Buyer's Agency
What is a Buyer Agent?
A buyer's agent represents the buyer when making a purchase in a real estate transaction. The National Association of REALTORS' research has shown when a buyer's representative is used, homes were found a week faster and the buyer viewed three additional properties when compared to consumers who did not use a buyer's agent.
A buyer's agent is employed by and owes fiduciary responsibilities to the buyer (not the seller). In real estate transactions a buyer (or seller) can be represented in the following ways:
-
Transaction broker - A transaction broker provides limited representation to a buyer, seller or both. A transaction broker does not carry the responsibility of providing a fiduciary duty. That is a relationship of trust and confidence.
-
No brokerage relationship - In this type of relationship the real estate agent has no fiduciary duty to the customer. By default this relationship is used in Florida when no agreement has been reached between the real estate professional and the customer.
-
Single Agency (also known as Buyer's Agency) - A single agent represents only one party in a transaction. This means the agent is working for you and you alone. The agent has a legal duty to be loyal, deal honestly, be obedient, maintain confidentiality and disclose all known facts that materially affect the value of the property. Single agency provides you with the most protection and assistance throughout the entire process.
Representing buyer's as a single agent allows us to work closely with each buyer, helping them through every aspect of the transaction. There will never be any doubt as to who we are working for. We are here to consult you on the purchase of your next property, not sell it to you.