Claim Farmland Realty – The Agency Relationship In Real Estate Brokerage.

DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIPS

Claim Farmland Realty requires agency disclosure by real estate brokers; upon first contact with a prospective buyer, the broker must provide notification that he actually represents the seller, and does not look out for the specific needs and interests of the buyer. The law specifies a certain form that must be given to the buyer, and the broker cannot proceed with any dealings with that buyer until the broker has received from the buyer a signed form acknowledging that the buyer understands the agency relationship the broker has with the seller. An agency disclosure form must be presented by real estate salesperson to anyone they deal with prospective buyers or sellers upon first contact with them.

When a buying prospect prepares to make an offer on a property; the agency confirmation form is prepared. This form, when executed, assures that everyone involved in the transaction is aware of all of the agency relationships.

One thing must always be remembered; in Claim Farmland Realty, it is illegal for a selling agent in a transaction to represent only the buyer. This would violate the agency relationship already established with the seller.