Buyer Client or Buyer Customer?

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Buying
Understanding REALTOR® services levels.
Responsibilities: customer vs as a client?

What do we mean by a customer vs a client?

Customer Service Levels:

When you are a customer of an agency, you are not represented by an agent when you are looking to buy a home.
Real Estate Law states an agent is a representative for the Seller unless there is a contract otherwise. Their fiduciary duty is to the Seller. A REALTOR® is bound by Real Estate Law to do everything possible to make sure that they are fair in their dealings with the public. Loyalty must lie with the Seller of the property unless hired by the customer, to represent you, the buyer.
In Real Estate terms an agent needs to treat your fairly and honestly. They can give you material facts about a property and maintain reasonable care and diligence. An agent can answer any questions provided they are material facts and public knowledge. They are responsible to check the accounting should you transact on the home.

Responsibilities at Customer Service Level

- Take reasonable care and diligence
- Focus on the sellers needs
- Full disclosure of all we know about you to the seller
- Focus on the sellers property
- Show in house listings before showing others
- Lower level of responsibility to your needs
- Discuss material facts only
- Protect the client not the customer
- Negotiate on behalf of the seller - Share all information about the buyer

- Negotiating strategy that favoring the Seller
- No suggested advice about the financial way forward when offering on the property
- No comparable CMA offered for price counseling purposes
- Keep information about the Seller confidential
- Focus on Selling the property
- Focus on the Sellers negotiation and his best outcome

Buyer Client - Buyer Agency Agreement Signed with the Real Estate Professional

When you hire a Buyer's agent, you become a buyer client. The agent is responsible for all Fiduciary and statutory duties. Their undivided loyalty and pertinent information is shared with you. The agent's whole purpose is to protect your interests, find you a home that suits your needs and look after you.

Responsibilities at Customer Service Level:

 

- Assist buyer to get purchasing financials in order - Strengthen position as a buyer by getting him pre-qualified for a mortgage and - Make sure that the buyer gets to see new listings immediately - Get the property disclosures - Find out about a Home Warranty - Get the tax assessment figures

- Check zoning or subdivision restrictions
- Assess the square footage of the property
- Easements, flood plains or restrictions affect the property
- Future development/s
- Give factual data about the area and general information about local schools
- Get the financial records, rules and regulations of HOA's
- Do CMA's to assess the value of a property before offering on it
- Negotiate on behalf of the buyer-client
- Contract to benefit the buyer whenever possible and
- Share expertise on items that would favor the buyer client
- Ensure all paperwork is on hand to support final mortgage application
- Share all information I know about the Seller
- Provide material facts and professional advice
- Protect and guide the buyer client
- Keep buyer client information private and confidential
- Tell you all we know about the Seller and his interests in the property
- Continue service throughout the transaction and beyond
- Home inspection, termite inspection information
- Strengthen the buyer clients position in case of multiple offers
- Offer protective clauses for the buyer client
- Solve issues in favor of the buyer client wherever possible
- Look after the Buyer Clients best interests always
- Loyalty and obedience to the Buyer Client

No Extra Charge for My Services
Whether you are a buyer customer or a buyer client, there is no extra fee for you to pay an agent for my services. An agents fees are generally paid by the Seller. With that in mind, why would you not hire a Buyers Agent to represent you? It's an agents duty to act on your behalf at no added cost to you.