Gwen Fowler Real Estate, Inc.®

The Importance of a Buyer's Agent

Posted By Gwen Fowler @ Jul 14th 2012 1:37pm In: Property Listings

The Importance of a Buyer’s Agent

In South Carolina we are required to follow assigned “Rules of Agency” and when an agent “lists” a property the seller becomes that agent’s (and the company’s) “client”. By signing the listing contract they have made a commitment to each other. By definition, an agent (and their company) must give their client the following:

  1. Obedience
  2. Loyalty
  3. Disclosure
  4. Confidentiality
  5. Accountability
  6. Reasonable care & skill

If a buyer comes along and asks that agent to show them a property “listed” by that agent or with that company, they are a customer.  That agent must give customer care:

  1. Present all offers in a timely manner
  2. Account for money or other property received on your behalf
  3. Provide an explanation of the scope of service to be provided
  4. Be fair and honest and provide accurate information
  5. Disclose “adverse material facts” about the property of the transaction which are within the licensee’s knowledge.

Customer service does not require a written agreement.  You are not committed to the company or agent in any way.

Buyers have the idea that by going to the listing agent they will get the best deal since there is only one REALTOR® involved.  Unfortunately, it is just the opposite. By law, the listing agent must give a higher level of service to the seller, even to the point of sharing information you thought you gave them in confidence.

Whenever you meet with a REALTOR® make sure they give you a copy of the state agency disclosure form and have them clearly explain whether they will be showing you properties they have listed and will be treating you as a customer or if they will be showing you properties listed by other companies and will be able to treat you as a client. THERE IS A BIG DIFFERENCE and if they don’t disclose this to you they are not only violating their REALTOR’s Oath but also the laws of South Carolina.

I have chosen to be a Buyer’s Agent exclusively in Keowee Key. I do not take listings in Keowee Key so that I can focus on serving the needs of buyers only.

I continue to list properties on the private lakes and acreage tracts throughout the county. I will be glad to show you any of these but if you decided to buy, I will refer you to another agent with another company. You will then get the full representation you deserve.  I feel that strongly about the spirit of the laws of agency and I feel that all parties in the transaction should be represented and treated fairly.

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