Frequently Asked Real Estate Questions - What is the consumer notice?
This video by nick Vandekar, Main Line Realtor with Long & Foster Real Estate, Inc. answers the question What is the consumer notice?
The Consumer Notice should be explained to a consumer by any real estate agent they meet for the first time and discuss their real estate needs. The purpose is so the consumer understands who the person they are talking with represents.
At the most basic level, the agent will represent the seller, the buyer or be independant of either. If a buyer and you are talking with the listing agent who represents the seller you need to be conscious of the fact that this agent is gathering information on behalf of the seller.
There are situations where an agent and/or the broker may be a dual agent, or in the case where both the agent for the buyer and the seller are from the same brokerage but are different individuals they will be designated agents if the brokerage practises designated agency.
We also have transaction licensees who represent nobody, can give no advice but are merely providing service to complete a transaction. You may still want to be careful what you share in case confidential information is relayed inadvertently.