Agency... Customer or Client?
The choice is yours. How do you want to be represented in your next real estate transaction? Before committing to a real estate relationship, make sure you understand and approve in writing the type of agency that you want.
As a customer, the Realtor that you are working with will assist with the sale but not represent you. The Realtor must be honest, disclose material defects in the home, and use care in preparing your documents. As a customer you should not disclose personal confidences, negotiating strategy, or any financial information that may harm you when speaking with a Realtor.
At the point you decide to move from customer to client, an agency form must be signed to protect you. As a client, the Realtor represents your best financial interest, works for you in confidence, and places your interests ahead of all others. Your private conversations and motivations in the sale are now protected. An example of specific performance that a Realtor can provide to you is any information that may help your decision to buy or sell, list to sale price ratios, absorption rates, history of the property, buyer and seller market analysis to negotiate the best price for you. Do not assume you are a client; this agreement needs to be in writing.
There are many forms of agency relationships in the state of Iowa. Each real estate broker will need to disclose in writing how they will represent you. Before disclosing anything that may harm your negotiations, make sure to you know if you are a customer or a client. Best wishes in your next real estate transaction.
Heather Morris CRS, GRI, ABR, CLHMS
Broker Associate/ Skogman Realty 2008