Now, I know Ma. Real Estate Agency, so what now?

Basically, as a potential real estate client, you need to know who you’re real estate agent is, what duties they owe you and what duties they don’t owe you. An experienced real estate agent can fill a variety of roles: Buyer’s Agent, Seller’s Agent, Dual Agent and Facilitator/Transaction Broker. The duties of each are diverse and complex. Those duties detail the actions and activities of the agents. Essentially, what do you want or expect the agent representing you to do?

Because of the variety of roles we agents can play, the Massachusetts Board of Registration of Real Estate Brokers and Salespeople mandates that at the first face to face meeting between client and agent(Open Houses, Comparative Market Analysis(CMA) and Opinion of Value delivery have partial exemptions), the agent must fill out and explain a document to you, the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure.

This cool form basically tells you what the prospective agent in front of you sees his role in representing and advocating(or not) for you while you embark on one of the largest transactions of your life, buying or selling a home. Since the agent can fill so many possible roles, The various roles are explained on the back of the document.

This is a no pressure document. It’s not a contract. It’s just confirming who you’re talking to. You have the option of signing it or checking the “refused to sign” line. See No pressure.

Still you should read it and understand what it’s telling you. The various roles are described in past posts and they are critical as a basis of understanding what you want and need out of an agent. Most importantly, the document is the basis of a potentially blooming partnership.

The factors you need to consider in picking the right agent for you and your transaction are the proposed value of your home in the Comparative Market Analysis(CMA) he or she offers you. Beyond that you need to compare and contrast their commission percentage, their marketing plan, their understanding of the current market conditions and their personality. Lastly, How well did they prepare you for the next step? All these factors work into an informed decision.

Choose wisely. This person will be your partner in, what could be, the largest transaction of your life.

Have Fun!

Lew McConkey
Focused on Home Buyers and Sellers in Brockton, Abington, Whitman, Hanson, Halifax and East Bridgewater

Rosen Realty