A buyer's agent WORKS
ONLY FOR THE BUYER. A buyer's agent has fiduciary
duties to the buyer which include reasonable care,
undivided loyalty,
confidentiality and full disclosure. However, in dealing
with sellers a
buyer's agent must act honestly. In dealing with both
parties, a buyer's
agent may not make any misrepresentations on matters
material to the
transaction, such as the buyer's financial ability to
pay, and must disclose
defects of a material nature affecting the physical
condition of the
property which a reasonable inspection by the licensee
would disclose.
A buyer wishing to be represented by a buyer's agent is
advised to enter
into a separate written buyer agency contract with the
brokerage firm which
is to work as their agent.
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