Does Your Realtor® Have all the Right Anwers?

Does Your Realtor® Have all the Right Answers?

When you work with Massachusetts Realtors® they must adhere to a strict Code of Ethics and Standard of Practice. Below is pop quiz that pertains to some of the rules we need to follow when working with the public.

See if you can find the right answers:

1. The Massachusetts Mandatory Agency Disclosure Form must be presented:

1. When an agent talks with a potential client on the phone.
2. After an agent has shown a client three properties.
3. Right before writing up an offer on a home.
4. At the first meeting an agent has with a buyer to discuss a specific property.

2. Your Realtor® can recommend a specific home inspector to you:

1. Only if they are representing you as a buyer agent.
2. If they are representing the seller.
3. When the home being sold is in their territory.
4. During the winter months.

3.  If you present your agent with an offer on a property:

1. He can refuse to present it if he thinks it is too low.
2. He does not have to present your offer if it is Tuesday.
3. Your agent must present all offers to the seller.
4. Your agent will present it if you produce a rationale of the offer price in writing.

4.  When you sign a Buyer Agency Agreement with a Realtor®, that agent:

1. Can discuss your personal finances with anyone.
2. Owes you a complete fiduciary responsibility to keep your information confidential.
3. Has an obligation to show you at least twenty homes.
4. Owes you three months of personal chauffeur services.

5.   When advertising their services to the public, Realtors®:

1. Can make any claims - as long as they have been in the business for 5 years.
2. May inflate their sales record if they plan on selling more in the future.
3. Must present a true picture in their advertising at all times.
4. May list credentials they have not yet earned if they plan on taking those courses.

In your search for a home in the Metrowest Massachusetts or the Greater Boston Area be sure to work with a Realtor® who has the right experience, credentials and knowledge of the area you are looking in.

Additionally - you may also want to choose someone who knows the answers to these questions.

Copyright 2010 "Does Your Realtor® Have all the Right Answers?"

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Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

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Answers:  1-d, 2-a, 3-c, 4-b, 5-c