One thing many people say about real estate agents is that they are not signing a contract with an agent until they know they’re working for them.
Well sadly, no agent is working for them until you sign an official contract that enables the agent to represent you in your property deal. A customer is defined as a person thinking about buying or selling property that has not signed a formal brokerage contract with an agent. A client is a person that has signed an official brokerage agreement with an estate agent in Gloucester.
Lawfully, if you are not a client, all an agent can do for you is show you properties. The absence of an official agreement opens liability for real estate agents and for that reason limits the info that an agent is permitted to disclose to a possible client or a customer.
Consider this. If you walk into a realty company and begin asking the agent thoughts about buildings and they, engage you in this discussion without having you sign an official brokerage contract you are a customer. So you arrange an appointment to go take a look at houses. The agent takes you to see five places and still without having signed the official brokerage agreement, you pick the one you like.
The agent is contracted in a formal listing arrangement with the seller of the property that you like. That agent is lawfully and fairly bound to work for the seller’s benefit and for doing this that the agent will gather a huge commission. So he is not inspired to work out the best offer for you. Your best alternative is to make a list of the agents that you have an interest in working with. Ring them up and conduct an interview with them so that you pick the right purchaser’s agent for you. You can then comfortably sign a formal purchase brokerage contract with the agent of your choice.
If you are not going to sign the agreement, the agent should require you as the customer, to sign a Customer Acknowledgment. It says that you were offered the official arrangement and refused it.
Nevertheless, the agent or brokerage is not required to obtain the customer acceptance signed. A consumer is a customer until they sign the agreement to be represented as a client.…[Continue reading]