Dissecting the New York Agency Disclosure Form - Buyer's Agent

Dissecting the New York Agency Disclosure Form - Buyer's Agent

There are five different types of agency disclosure in New York. I'm going to go over what Buyer's Agent means. But first, at the very top it says, This Is Not A Contract which is correct. As a New York real estate agent, I have to give seller's and buyer's this form for us to sign. It is to your benefit because consumers need to know who their agent is working for, you or the seller?

Buyer's Agent - A buyer's agent works for the buyer, period. The buyer's agent has their client's best interests at heart at all times also known as fiduciary duty. We negotiate on behalf of the buyer as well as having undivided loyalty, provide reasonable care, confidentiality and obedience. But, we have to treat sellers fairly and honestly and in good faith.

When buyer's agents schedule homes to show their clients, they do this by calling the real estate company that has the listing. That office should ask the agent who they are representing. That agent has to be honest and fully disclose who they are representing.

If a buyer does not want representation (which is never a good thing), the agent they are using to find them a home has to represent the seller and will have to negotiate on behalf of that seller, not the buyer.

Related Articles
Dissecting the New York Agency Disclosure Form - Seller's Agent
Dissecting the New York Agency Disclosure Form - Broker's AgentDissecting the New York Agency Disclosure Form - Dual AgentDissecting the New York Agency Disclosure Form Dual Agent with Designated Sales Agents

Below is the New York Agency Disclosure Form. I will go over Broker's Agency tomorrow.   

New York Agency Disclosure Form for Real Estate by Jackie Connelly Fornuff