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What does "No Agency" mean? |
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You may also choose to use the services of a REALTOR® without having any kind of agency relationship. This might occur, for example, when you are being shown a property by the seller's agent.
The REALTOR® you choose to work with in this manner has a legal and ethical duty to provide you with accurate, honest answers to your questions and can provide all these services:
- Explain real estate terms and practices
- Provide and explain form used
- Assist you in screening and viewing properties
- Inform you of lenders and their policies
- Identify and estimate costs involved in a transaction
- Assist you in establishing your range of affordability
- Prepare offers or counter offers at your direction
- Present all offers promptly
A REALTOR® who is not your agent cannot:
- Recommend or suggest a price
- Negotiate on your behalf
- Inform you of his/her prinicipal's, top/bottom line
- Disclose any confidential information about his/her principal unless otherwise authorized.
You should not provide a REALTOR® who is not your agent with any information that you would not provide directly to his or her principal.
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