How agency works for you as the seller
Agency is part of Washington State Law. There are special agency laws about real estate. The basic idea is that I must work to represent your best interests—that your interests come before the buyer’s, my own, my company’s, a loan company’s, an appraiser's, an escrow company’s, etc.
Included with this information package is a pamphlet on agency but here are some of the benefits to you.
- Discussions, facts, or information that should not be revealed to others will be held confidential. This protects your bargaining position in negotiations.
- Disclosure of all material facts to seller
- Existence of offers.
- How commissions are split with other brokers.
- Legal effect of important contract provisions, and recommendation to seek expert legal advice.
- Relationships between agent and other parties.
- Information learned about the prospective buyer.
- The real estate agent must act in the best interest of the seller.
- Obedience - the real estate agent must follow all lawful instructions of the seller.
- Reasonable Care and Skill to assist with
- Negotiating a reasonable and successful purchase price.
- Affirmatively discovering and disclosing all material facts.
- Reasonable investigation of material facts related to the sale.
- The real estate agent must disclose the location of any monies placed in the hands of the broker.