Selling Sumter Across America!   www.SumterRealEstateForSale.com

 

 

 

Agency Information

 

You will need to determine whether you will remain a customer or become a client. By law, I have to provide to you the South Carolina Department of Labor, Licensing, and Regulations approved Agency Disclosure Brochure at substantive contact. This document fully explains the agency relationship, but here is an abbreviated version. The differences between a customer and a client are great.  

 

Remaining a customer

You will receive basic duties, such as:
 

• Present all offers in a timely fashion
  
• Account for the money or other property received on your behalf
  
• Provide an explanation of the scope of services to be provided
  
• Be fair and honest and provide accurate information
  
• Disclose "adverse material facts" about the property or the transaction which are within the licensee's knowledge
   

*Unless or until you enter into a written agreement with the Company for Agency Representation, you are considered a "customer" of the Company, and the Company will not act as your agent. As a Customer, you should not expect the Company or its Licensees to promote your best interest, or to keep your bargaining information confidential. Customer service does not require a written agreement; therefore, you are not committed to the company in any way. 
 

Becoming a Client
 

 Clients receive more services than customers. If you choose to become a client, you will be asked to confirm in your written representation agreement that you received this brochure in a timely manner.
 

A Seller becomes a client of a real estate company by signing a formal listing agreement. For a seller to become a client, this agreement must be in writing and must clearly establish the terms of the agreement and the obligations of both the seller and the Company which becomes the Agent for the Seller.
 

A Buyer becomes a client of a real estate company by signing a formal Buyer Agency Agreement with the Company. For a buyer to become a client, this agreement must be in writing and must clearly establish the terms of the agreement and the obligations of both the buyer and the Company which becomes the Agent for the Buyer.
 

As a Client, you can expect the real estate Company to provide the following client-level services:
 

• Obedience
  
• Loyalty
  
• Disclosure
  
• Confidentiality
  
• Accounting
  
• Reasonable care and skill 

Client-Level services also include advice, counsel, and assistance in negotiations.
 

Single Agency

When the Company represents only one client in the same transaction (the seller or buyer), it is called single agency.
 

Dual Agency

Dual Agency exists when the real estate Company has two clients in one transaction (a seller client and a buyer client).

*at the time you sign an agency agreement, you will be asked to acknowledge whether you would consider giving written consent allowing the Company to represent both you and the other client in a Disclosed Dual Agency Relationship. 
 

DISCLOSED DUAL AGENCY

In a disclosed dual agency, the Company's representation duties are limited because a buyer and a seller have recognized conflicts of interest. Both clients' interests are represented by the Company. As a disclosed dual agent, the Company and its associate licensees cannot advocate on behalf of one client over the other, and cannot disclose confidential client information concerning the price negotiations, terms, or factors motivating the buyer/client to buy or the seller/client to sell.

Each Dual Agency Agreement contains the names of both the seller client(s) and the buyer client(s) and identifies the property.
 

DESIGNATED AGENCY

In Designated Agency, the broker-in-charge may designate individual associated licensees to act solely on behalf of each client. Designated agents are not limited by the Company's agency relationship with the other client, but instead have duty to promote the best interest of their clients, including negotiating price. The Broker-in-Charge remains a disclosed dual agent for both clients, and ensures the assigned agents fulfill their duties to their perspective clients.

*At the time you sign an agency agreement, you may be asked to acknowledge whether you would give written consent allowing the Company to designate a representative for you and one for the other client in a designated agency.
 

Each designated agency agreement contains the names of both the seller/client(s) and the buyer/client(s), and identify the property.

 

If you plan to become a client of this Company, I will fully explain the agreement and will answer all of your questions you may have about the agreement.

Remember, however, until you enter into a representation agreement with the Company, you are considered a Customer and the Company cannot be your advocate, cannot advise you on price and terms, and cannot keep your confidences.
 

It is YOUR CHOICE
 

As a real estate consumer in South Carolina, it is your choice as to the type and nature of services you receive.

• You can choose to remain a customer and represent yourself while the Company represents the other party.
  
• You can choose to hire the Company for representation through a written agreement
  
• If represented by the Company, you can decide whether to go forward under shared services of dual agency or designated agency or to remain in single agency. 
  

***  The choice of services belongs to you- the South Carolina real estate consumer.

*** I can provide you with a copy of the "Buyers Agency Agreement" ahead of time for your review. Just ask me for one!

I welcome the opportunity to serve your real estate needs.

Respectfully, Jim Graham