There are a growing number of large volume builders that have in-house real estate agents. These agents represent the builder and the builder's best interests. If you end up using the in-house agent that represents the builder, in most cases you are actually an unrepresented seller.
Who will represent you?
In the State of Oregon you can have a buyer's agent. Having a buyer's agent is the best way to insure that your interests are being looked after. A good buyer's agent will help you understand the buying process and keep you informed so that you can make educated decisions during your home buying experience.
Having your own agent gives you an advantage. Your own agent knows the process, can let you know what to expect, and can help you have a smoother buying experience. In most cases, the builder will pay for you to have this representation.
Here is a short list of some of the affirmative duties agents owe their client:
- To be loyal to their client by not taking action that is adverse or detrimental to the client's interest in a transaction
- To advise the client to seek expert advice on matters related to the transactions that are beyond the agent's expertise
- To maintain confidential information from or about the client except under subpoena or court order, even after termination of the agency relationship
- To exercise reasonable care and diligence;
- To deal honestly and in good faith;
As you can see, there is a lot of "gray" areas here if one agent represents both the buyer and the seller. Yes, dual agency can work. The question is, will it work for you?
Follow this link to learn more about the Oregon Agency Disclosure laws.
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