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OFFICE POLICY
Our job is to help people buy and sell real estate. Our goal is to
help buyers and sellers negotiate the best price for a property. We
will operate our office in the following manner:
BALL REALTY GROUP will enforce the following agency policies. We
will represent the interest of the Seller. We will represent the
interest of the Buyer. When BALL REALTY GROUP has the property
listed and is also representing the Buyer, we will become a Limited
Agent.
Seller Agency: Listing broker is the exclusive agent of
Seller and represents the interest of Seller as his/her agent.
Seller agent owes duties of trust, loyalty, confidentiality,
accounting, and disclosure to Seller. However, listing broker must
deal honestly with Purchaser and Purchaser Agents and disclose all
known physical and material information about the property to
Purchaser.
Buyer Agency: Selling broker is the exclusive agent of
Purchaser and represents the interest of Purchaser and his/her
agent. Purchaser Agent owes duties of trust, loyalty,
confidentiality, accounting and disclosure to Purchaser.
Limited Agency: Arises when Listing broker is also acting as
Purchaser Agent: Broker shall NOT disclose the following without the
informed written consent of Seller and/or Purchaser as it may
pertain:
1. Any material or confidential information, except adverse material
facts or risks actually known by Broker concerning the physical
condition of the property and facts required by statute, rule or
regulation to be disclosed and could not be discovered by a
reasonable and timely inspection of the property by the parties.
2. That Purchaser will pay more than the offered purchase price for
the property.
3. That Seller will accept less than the listed price for the
property.
4. Other terms than those offered that would create a contractual
advantage for one party over another party.
5. What motivates a party to buy or sell the property. Other real
estate offices selling our listings will be treated as Buyer Agents.
We will not recognize sub-agency.
DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIPS
Before you enter into a discussion with a real estate agent
regarding a real estate transaction you should understand what type
or agency relationship you wish to have with that agent. Real estate
licensees who are acting as agents of buyers or sellers or property
are to advise the potential buyers or sellers with whom they work of
the nature of their agency relationship and the rights and
obligation it creates.
SELLER'S AGENT
If you are interested in selling real property, you can engage a
real estate agent as a seller's agent. A seller's agent, acting as a
listing agent under a listing agreement with the seller, acts solely
on behalf of the seller. You can authorize a seller's agent to do
other things including hire subagents, or work with other agents
such as buyer's agents on a cooperative basis. A subagent, or
"cooperating agent" is one who has agreed to work with the seller's
agent, often through a multiple listing service.
A seller's agent has, without limitation, the following fiduciary
duties to the seller: reasonable care, undivided loyalty,
confidentiality, full disclosure, obedience and a duty to account.
The obligations of an agent are also subject to any specific
provisions set forth in an agreement between the agent and seller.
In dealing with the buyer, a seller's agent should (a) exercise
reasonable skill and care in performance of the agent's duties; (b)
deal honestly, fairly, and in good faith; (c) disclose all facts
known to the agent materially affecting the value or desirability of
property, except as otherwise provided by law.
BUYER'S AGENT
If you are interested in buying real property, you can engage a real
estate agent as a buyer's agent. A Buyer's agent acts solely on
behalf of the buyer. You can authorize a buyer's agent to do other
things including hire subagents, or work with other agents such as
seller's agents on a cooperative basis.
A buyer's agent has, without limitation, the following fiduciary
duties to the buyer: reasonable care, undivided loyally,
confidentiality, full disclosure, obedience and a duty to account.
AGENT REPRESENTING BOTH SELLER AND BUYER
A real estate agent acting directly or through an associated
licensee can be the agent of both the seller and the buyer in a
transaction, but only with the knowledge and informed consent, in
writing, of both the seller and the buyer.
In such a limited agency situation, the agent will not be able to
provide the full range of fiduciary duties to the buyer and the
seller.
The obligations of an agent are also subject to any specific
provisions set forth in an agreement between the agent and the buyer
and the seller.
An agent acting as a limited agent must explain carefully to both
the buyer and seller that the agent is acting for the other party as
well.
GENERAL CONSIDERATIONS
You should carefully read all agreements to ensure that they
adequately express your understanding of the transaction. A real
estate agent is a person qualified to advise about real estate. If
legal, tax or other advice is desired, consult a competent
professional in that field.
Throughout the transaction you may receive more than one disclosure
form. You should read its contents each time it is presented to you,
considering the relationship between you and the real estate in your
specific transaction.
This is to acknowledge that I have received a copy of the written
office policy and disclosure regarding agency relationships.
BUYER/SELLER SIGNATURE
DATE
AGENT SIGNATURE
DATE
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