• Compensation: Clear disclosure of how your agent will be paid. This could be a percentage of the purchase price, a flat fee, or another arrangement. It's important to know that agent fees are negotiable and not set by law. • Term and Termination: The duration of the agreement and conditions under which either party can terminate it. • Consumer Protection: Disclosures related to your rights, confidentiality, and any potential conflicts of interest. Entering a buyer's agreement offers several benefits. First, it clarifies your relationship with your agent, ensuring both parties understand their roles and responsibilities. Second, it demonstrates your agent's commitment to dedicating their efforts to your home search and ultimate purchase. Additionally, it safeguards your interests and ensures transparency throughout the transaction. With a formal agreement, you can go ahead confidently, knowing that your agent is committed to helping you find your dream home while prioritizing your interests. In North Carolina, when you sign an agreement for representation, your agent has fiduciary responsibilities, meaning they must act in your best financial interest. They also owe you obedience, loyalty, disclosure, accounting, honesty, and competent representation.
MORE ACCESS TO THE REAL ES O THE REAL ESTATE MARKE TE MARKET
A real estate agent has better access to the market than unrepresented buyers and possesses specialized knowledge of local conditions. The agent serves as a full-time liaison between sellers and buyers. They have immediate access to properties listed by other agents. Buyer’s and seller’s agents understand how to assemble a real estate deal and evaluate the property once it's under contract. A real estate agent will locate homes that match your criteria, contact sellers’ agents, and arrange appointments for viewing 4
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