DEFINITION:

A Broker engaged through a written agreement by the Seller/Landlord to act as a Seller's Agent or Landlord's Agent.

Duties of the Agent:

• To perform the terms of the written agreement.
• To exercise reasonable skill and care for the Seller/Landlord.
• To promote the interest of the Seller/Landlord with utmost loyalty, good faith and fidelity.
• To seek price and terms acceptable to Seller/Landlord.
• To present all offers to Seller/Landlord in a timely manner.
  To disclose material facts to Seller/Landlord actually known to Broker.
• To counsel Seller/Landlord as to material benefits or risks.
• To advise Seller/Landlord to seek legal and other expert advice.
• To account in a timely manner for all monies and properties received.
• To comply with applicable local, state and federal laws.
• To disclose the following only with informed consent of the Seller/Landlord.
• That the Seller/Landlord is willing to accept less than the asking price.
• What the motivations are of the Seller/Landlord.
• What financing terms the Seller/Landlord would accept other than those offered.
• Any material information about Seller/Landlord unless required by law.
• Facts or suspicions which may psychologically impact the sale.

Termination of agency will be the earlier of the following:

• The date of expiration agreed to by the parties.
• Completion of the Purchase of a Property.
• Mutual Termination by the Parties.

Responsibilities following contract termination or performance:

• Accountability for monies and properties
• Confidentiality of information received during agreement unless:
• Required by law.
• Released in writing by engaging party.
• Information is made public by source other than Broker.

Compensation:

• Payment of compensation shall not be construed to establish agency.
• Compensation may be paid by Buyer/Tenant or Seller/Landlord or third party.
• The identity of source of compensation shall be disclosed to all parties.
• Compensation may be paid by more than one party with the written consent of the parties.

BENEFITS of Working with a BUYER's Agent:

• Get all the facts - no information withheld
• More properties available
• Help on negotiating
• Someone in your corner - form a TEAM!
• Better negotiating possible - stronger
• Secrets are OK
• You may save money
• Agents become investigative
• Challenge the MLS information
• May save time
• Work with a motivated agent because they know you are loyal to them
• Get Broker's full attention
• Greater chance the contract will stay together until closing