North Carolina real estate agents practice “Agency” when working with clients and customers. Because of this every real estate agent is required to disclose agency at “first substantial contact.” “Substantial contact” simply means, at the point you the customer or client disclose any personal information to us.
We make that disclosure by way of a “Working With Agents Brochure.” Think of it as a consumer protection if you will. Overly eager agents will sometimes put a Working With Agents brochure in your face immediately, along with a pen and ask you to sign. Don’t let that concern you, the brochure is not a contract of any kind. The NC Real Estate Commission requires us to maintain copies of that brochure in our files for three years.
Below is a rundown on Agency in simple terms and a link for you to read the entire brochure for yourself if you would like to do so.
Simply put, in The State of North Carolina all real estate contracts are between the buyer/seller (clients) and the firms (not the agents.) Firms represent people in different capacities.
If we have your property listed for sale, we represent you as a Sellers Agent, meaning every agent who works with the firm represents you in the same capacity as the agent who listed your property. We do not disclose your personal reasons for wanting to sell, ie: job move, can no longer keep up the payments, Divorce, etc, only the material facts.
Should you come into the firm and ask us to work with you to purchase a property, we will represent you as a Buyers Agent. Again, we do not disclose your personal information to the seller.
When we show you as a buyer, property where we represent the seller, we then become a dual agent because we’re representing both buyer and seller. Here we walk a tight line disclosing nothing to hurt either party but working equally hard to complete the transaction as smoothly as possible.
If you would like to read the NC Working With Agents Brochure the link is available here. Please remember, this brochure is Not a Contract of any kind. Contact us if you are thinking about buying a home in the Western, NC area. Our real estate knowledge and expertise is unmatched. Let us help you!