Dear Mr. & Mrs. Buyer,
Please understand, it's not that I don't want to sell you a house or provide additional information regarding a property. But, before I do - I will need your signature or an implied agreement. It's the LAW. If it seems I am not doing my part to follow up with you, it's because you have not told me WHO I will be representing if I were to assist you. My firm requires that I produce this in writing.
New York State requires every real estate agent disclose and explain the law of agency to prospective buyers and sellers. As a buyer, you actually have choices when it comes to how I might represent or not represent you in a transaction. Yes, the LAW says that I can help you without actually representing you. In fact, I must assume I am representing the seller until you authorize me to act in the capacity of a buyer's agent. This means my hands are tied until you agree on my role. Until then, I cannot provide certain information which might be helpful to you as the buyer.
As the real estate consumer, I know this is hard for you to comprehend.
Believe it or not, there are even many agents who don't understand this - although they have real estate licenses and this was drilled into their heads over and over. I can't begin to count the many times this was covered in the real estate licensing course. And, still many experienced agents don't get it. And, those who do understand might ignore the process because they don't want to rock the boat and make a buyer sign something that they feel uncomfortable and confused about - or, might even cause them to panic about feeling obligated to the agent. No need to feel scared, the New York State Agency Disclosure form only requires the agent to be obligated to a buyer or seller? It discloses who the agent would be working for in providing any and all information. That's all.
This LAW applies whenever there is any potential for a transaction. Yes, even if you are just poking around and asking me to do some research, requesting to know what similar homes in a neighborhood are selling for, or what the sellers might have paid and when they purchased. Yes, in seeking this information, ypu must decide to allow me to represent your best interest IF the information I provide could in any way be used to help you make an informed decision - and, even if I never become part of a transaction between you and the seller.
If you are reluctant, I think I understand why. You already told me that you have been talking to another real estate agent. Even though you told me you might not continue to work with him, perhaps you'll still be keeping your options open.
I agreed to show you just one property. Maybe I explained the law of agency and went as far as requesting that you sign something while the previous agent did not. This would mean that I am doing things by the book, and he is not. You say you want me to provide more information. Just provide an acknowledgment showing I informed you of the law and gave you the choice in how I would be working for either you OR the seller. Otherwise, I feel that I cannot move forward in answering your questions. Without authorizing me to work in your best interest, I cannot guide you in determining a fair market price.
And, if you think the other agent was more helpful without having to discuss agency disclosure or clearly estabiishing the agent/buyer relationship, then you should realize he would be acting as an unauthorized buyer's agent, and therefore not be abiding to the LAW of agency. This is required by LAW - before an agent can begin to discuss market value. Any agent that does not establish this in advance of providing pertinent information that can be used against one party or another in a transaction, is not adhering to the LAW. Seriously, ...is that really the kind of agent you want working for you?
It's not that I am pressuring you. It's not that I failed to follow up with the information you have requested. It's not that I am not happy to do business with you. It's not that I work differently than other agents. It's not that I wouldn't do the best job in representing you. In fact, I probably have a great deal more integrity than other agents for discussing the law of agency and asking for your signature or acknowledgment. So, please just authorize me to act in the capacity of a buyer's agent and you will see what a good job I can do for you.
Very Truly Yours,
Carol Culkin
Your "By The Book" Realtor®
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