“Who’s my Agent?”

“Who’s my Agent?”
By Steve Meyers
May 30th, 2014

So as a Buyer…. ”Who’s my Agent”? A new client of mine was told by an acquaintance that because both Agents are paid out of the commission paid by the Seller, that both Agents are actually working for the Seller.

In the State of Washington, unlike several other States, the Agent working on behalf of the Buyer has sole and exclusive responsibilities to his/her client, the Buyer. Washington was one of the first States in the nation to separate the responsibilities many years ago and those duties and responsibilities have been reinforced and clarified numerous times over the years through court cases in the State. It has also clarified the responsibilities each Agent has to the general public and to both parties in a transaction.

In addition to other responsibilities, the Buyer’s Agent is responsible;
a.) To be loyal to the Buyer by taking no action that is adverse or detrimental to the Buyer’s interest in the transaction.
b.) To not disclose any confidential information from, or about, the Buyer, except under subpoena or court order, even after termination of the agency agreement.
c.) To timely disclose to the Buyer any conflicts of interest.
d.) To advise the Buyer to seek expert advice on matters relating to the transaction that are beyond the Agent’s expertise.
e.) To make a good faith and continuous effort to find a property for a Buyer when a Buyers Agency Agreement is executed.
f.) To exercise reasonable skill and care.
g.) To deal honestly and in good faith.
h.) To present all offers in a timely manner.
i.) To disclose all existing material facts.
j.) To account for all earnest money.

When purchasing residential real estate in Washington, I encourage you to fully engage a full service professional real estate agent to represent your best interests. You’ll save time, effort, and money by engaging the best real estate agent you can find. They’ll protect your interest now and assist you in avoiding future liability.

If you have any comments or questions about this article, please email me at smeyers@kw.com.

Steve Meyers is a Managing Broker at Keller Williams Realty in Seattle, Washington. He can be reached at (206) 972-3328 or smeyers@kw.com.


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