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Trademark Real Estate
CONSUMER GUIDE TO AGENCY
RELATIONSHIPS
This document is also available as a Acrobat PDF doc for download and printing at http://www.trdmrk.com/Agency_Policy_2005_Consumer_Guide.pdf
We are pleased
you have selected Trademark
Real Estate to help you with your real estate needs. Whether
you are selling, buying or leasing real estate, Trademark Real Estate can provide you
with expertise and assistance. Because
this may be the largest financial transaction you will enter into,
it is important to understand the role of the agents and brokers
with whom you are working. Below
is some information that explains the various services agents can
offer and their options for working with you.
For more information
on agency law in
Representing Sellers
Most sellers
of real estate choose to list their home for sale with a real estate
brokerage. When they
do so, they sign a listing agreement that authorizes the brokerage
and the listing agent to represent their interests. As
the seller’s agent, the brokerage and listing agent must: follow
the seller’s lawful instructions, be loyal to the seller, promote
the seller’s best interests, disclose material facts to the
seller, maintain confidential information, act with reasonable skill
and care and, account for any money they handle in the transaction. In
rare circumstances, a listing broker may also offer “subagency” to
other brokerages which would also represent the seller’s interests
and owe the seller these same duties.
Representing Buyers
When purchasing
real estate, buyers usually choose to work with a real estate agent
as well. Often the buyers
want to be represented in the transaction. This
is referred to as buyer’s agency. A
brokerage and agent that agree to represent a buyer’s interest
in a transaction must: follow the buyer’s lawful instructions,
be loyal to the buyer, promote the buyer’s best interests,
disclose material facts to the buyer, maintain confidential information
and account for any money they handle in the transaction.
Dual Agency
Occasionally
the same agent and brokerage who represents the seller also represents
the buyer. This is referred
to as dual agency. When
a brokerage and its agent become “dual agents,” they
must maintain a neutral position between the buyer and the seller. They
may not advocate the position of one client over the best interests
of the other client, or disclose any personal or confidential information
to the other party without written consent.
Representing Both the Buyer & Seller
On occasion,
the buyer and seller will each be represented by two different agents
from the same brokerage. In
this case the agents may each represent the best interest of their
respective clients. Or, depending on company policy, the agents
may both act as dual agents and remain neutral in the transaction. When either of the above occurs, the brokerage
will be considered a dual agent. As
a dual agent the brokerage and its managers will maintain a neutral
position and cannot advocate for the position of one client over
another. The brokerage will also protect the confidential
information of both parties.
Working with Trademark Real Estate
Trademark Real Estate does represent
both buyers and sellers. When Trademark Real Estate lists property
for sale all agents in the brokerage represent the seller. Likewise when a buyer is represented by
a Trademark Real Estate agent, all of the
agents represent that buyer. Therefore,
when a buyer represented by a Trademark
Real Estate agent wishes to purchase property listed
by our company, the agent(s) involved act as dual agents. This is true whether one agent is representing
both parties or two separate agents are involved.
In the event
that both the buyer and seller are represented by Trademark Real Estate agents these agents and Trademark Real Estate will act as dual agents but only if both parties
agree. As dual agents
they will treat both parties honestly, prepare and present offers
at the direction of the parties, and help the parties fulfill the
terms of any contract. They will not, however, disclose any confidential
information that will place one party at an advantage over the other
or advocate or negotiate to the detriment of either party.
If dual agency
occurs you will be asked to consent to it in writing. If you do not agree to your agent acting
as a dual agent, you can seek representation from another brokerage.
As a buyer, you
may also choose to represent yourself on properties Trademark Real Estate has listed. In
that instance Trademark Real
Estate will represent the seller and you would represent your
own best interests. Because
the listing agent has a duty of full disclosure to the seller you
should not share any information with the listing agent that you
would not want the seller to know.
Working with Other Brokerages
Trademark Real Estate does offer representation
to both buyers and sellers. When Trademark
Real Estate lists property for sale it also cooperates with,
and offers compensation to, other brokerages that represent buyers. Trademark Real Estate does reserve the
right, in some instances, to vary the compensation it offers to other
brokerages. As a seller, you should understand that
just because Trademark Real
Estate shares a fee with a brokerage representing the buyer,
it does not mean that you will be represented by that buyer’s
brokerage. Instead that
company will be looking out for the buyer and Trademark Real Estate will be representing
your interests. When
acting as a buyer’s agent, Trademark
Real Estate also accepts compensation offered by the listing
broker. If the property is not listed with any
broker, or the listing broker does not offer compensation, we will
attempt to negotiate for a seller-paid fee.
Fair Housing Statement
It is illegal,
pursuant to the Ohio Fair Housing Law, division (H) of Section 4112.02
of the Revised Code and the Federal Fair Housing Law, 42 U.S.C.A.
3601, to refuse to sell, transfer, assign, rent, lease, sublease
or finance housing accommodations, refuse to negotiate for the sale
or rental of housing accommodations, or otherwise deny or make unavailable
housing accommodations because of race, color, religion, sex, familial
status as defined in Section 4112.01 of the Revised Code, ancestry,
disability as defined in that section, or national origin or to so
discriminate in advertising the sale or rental of housing, in the
financing of housing, or in the provision of real estate brokerage
services. It is also
illegal, for profit, to induce or attempt to induce a person to sell
or rent a dwelling by representations regarding the entry into the
neighborhood of a person or persons belonging to one of the protected
classes.
We hope you find
this information to be helpful to you as you begin your real estate
transaction. When you
are ready to enter into a transaction, you will be given an Agency
Disclosure Statement that specifically identifies the role of the
agents and brokerages. Please ask questions if there is anything
you do not understand.
PLEASE SIGN AND DATE THE NEXT PAGE AS TRADEMARK
REAL ESTATE IS REQUIRED BY LAW TO PRESENT THIS CONSUMER GUIDE ON
AGENCY TO YOU AND TO RETAIN A COPY OF YOUR SIGNATURE ONLY AS PROOF
OF PRESENTATION OF THIS CONSUMER GUIDE. THIS
IS NOT A CONTRACT. BY SIGNING THIS FORM, YOU ARE UNDER NO OBLIGATION
WHATSOEVER TO DO BUSINESS WITH TRADEMARK REAL ESTATE. THANKYOU!
THIS SIGNATURE
PAGE IS TO BE KEPT BY TRADEMARK REAL ESTATE FOR THEIR RECORDS AS
IS REQUIRED BY
Because it is
important that you have this information,
_________________________________ __________________________________
Name (Please
Print) Name (Please
Print)
__________________________________ ___________________________________
Signature Date Signature Date
