Page 6 - Gabriela Laver Buyers Guide 2023

Agency Relationships

The Agency Relationship is based on one person representing the
M interests of another person. Real Estate agents are licensed by the state
UE TEA to represent a person in the purchase or sale of a property.

The responsibility of the real estate agent is defined by the state law relating to agents, the
REALTORS® Code of Ethics, and general principles of agency law. The type of relationship formed
RBL between the agent and the client is called a fiduciary relationship. A fiduciary relationship is one based
on trust because the agent owes the following duties to the client: Loyalty, Obedience, Diligence,

NDE 1. Buyer’s Agent

A 2. Seller’s Agent / Listing Agent
THE V 3. Dual Agency

The Higgins Group represents the seller when we list a property for sale. Our firm represents the buyer
when we work with buyers. We are dual agent, representing both the seller and the buyer, when we
show buyers property that is listed with the brokerage.

Buyer’s Agency:

A buyer’s agent acts solely on behalf of the buyer. A buyer’s agent has fiduciary duties to the buyer which
include reasonable care, undivided loyalty, confidentiality and full disclosure. Buyer’s agents often work
with sellers, but do not represent the seller. Responsibilities of a Buyer’s Agent include:

• Arrange property showings that meet the buyer’s interest
• Provide information about the home or property, community, schools, taxes, utilities, and zoning
• Disclose any information about the property that can be obtained by public sources
• Prepare a competitive market analysis on the property
• Counsel the buyer on what price to offer the seller
• Show what other buyers are paying for property in the area
• Assist in writing an offer with the buyer’s interest in mind
• Negotiate the best price and terms for the buyer
• Keep the price capabilities and objectives of the buyer confidential, and maintain anonymity if
desired
• Assist with the loan application process
• Monitor all dates, events, and requirements for the buyer
• Attend the closing with the buyer

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