While we want our clients to enjoy their real estate experience, we want them to understand that we are taking the entire process very seriously.
From the moment potential buyers and sellers contact us at MoonDancer Realty in Dillsboro, NC we want them to aware of how licensed real estate agents in North Carolina can be expected to work with them. We have found that by taking the time up front to help them understand the differences between Sellers Agents, Buyer Agents and Dual Agents we really set the tone for our relationship with them. Since we often begin that relationship online, we have been including the following paragraph in our signature on all emails for years:
"In North Carolina there are Consumer Protection Laws called AGENCY LAWS. All licensed agents and REALTORS must by law, disclose to Buyers and Sellers the different ways we can work with them and what they can expect from us BEFORE any substantial conversations can take place. Please follow this link, "Working With Real Estate Agents", and do not hesitate to ask if you have any questions."
Once it has been determined whether the agent is working for the Buyer OR the Seller, the fiduciary duties are the same for their respective clients:
• promote their best interests
• be loyal to them
• follow their lawful instructions
• provide them with all material facts that could influence their decisions
• use reasonable skill, care and diligence, and
• account for all monies they handle for them.
Until the Buyer or Seller retains the Buyer Agent or Listing Agent they should be cautious about sharing any confidential information with the agent that they would not want the other party to know. Once an agent has agreed to act as either a Buyer Agent or Listing Agent they may not give any confidential information to the other party or their agent without permission from their client as long as they represent them.
Occasionally, with permission from the Buyer or Seller, an agent may act as a Dual Agent. In that instance, the agent must treat both buyers and sellers fairly and equally. The agents are prohibited from divulging certain confidential information about them to the opposite party.
The Working with Real Estate Agents brochure is produced by the NC Real Estate Commission and was created for the sole purpose of protection for real estate consumers. It gives them a clear understanding of the relationship between them and their agents plus helps delineate what an agent will be doing for them in their real estate transaction.
At MoonDancer Realty, we enjoy answering questions about the Working With Real Estate Agents document. To us it indicates that the consumer is going to take the real estate process as seriously as we do.