In short, yes.

When you utilize a Broker/Brokerage to assist you with a real estate transaction your relationship with that broker/brokerage is governed by some very substaintial laws.

To compare lets use a car lot. You walk onto the lot and are looking for a car. A sales person greets you and begins to assist. This sales person works for the dealership and is paid to sell cars that are on that dealerships lot. Of course the used car you are interested in with low mileage was owned by a little old lady that only drove it to church and back. If it has high mileage it was owned by a travling salesperson and these are "highway" miles. The point is that they are under no legal obligation to tell you the truth about the cars history or take you to a competitors lot if they know of a better deal that would be perfect for you.

Realtors CAN NOT operate that way. We are commonly referred to as agents. Legally, the term agent refers to a strickly defined legal relationship. An agent is a person authorized to act on behalf of another.

The Law of Agency is the body of law that governs these relationships. Without getting into a bunch of legal mumbo jumbo the bottom line is this. When you sign that Agency agreement you have just hired that Realtor. That Realtor works for you and must, by law, look out for your best interest.

Unlike our car sales person above who works for the dealership and is paid to sell you a car from that dealership. Your Realtor works for you and must assist you in finding the best property for you regardless of what company is actually selling it.

Also, unlike the car business, if an agent is aware of problems with the property they are required to disclose the issues to you.

These are but two examples but many more could be used. The main thing to remember is that when you "Hire" a Realtor they work for YOU. They MUST, to the best of thier ability, do everything they can to guide, protect, counsel, and assist you in buying or selling the property of your choice.

Any violation of agency law is also considered to be a violation of North Carolina real Estate License Law. So don't be hesitant to sign the "Agency Agreement" when it's presented to you. It is really in your best interest to do so.