Buyer Agent, Seller Agent, Dual Agent, Designated Agent, etc.
Before buying or selling real estate in Pennsylvania you need to have a clear understanding of how the agent works. Sometimes agents represent sellers, sometimes they represent buyers, and it is even possible for them to represent both the buyer and seller in the same transaction if everyone agrees. Century 21 Covered Bridges Realty, Inc. is one of the only companies in our local marketplace to practice designated agency, which allows one agent to represent the seller while the other agent represents the buyer so both parties get the advantage of full representation! Also, it is possible that an agent may not represent anyone, but may help both parties through the process as a transaction licensee. Confusing? Each agency should have their own company policy that dictates the procedures in their office, and the agent you work with should be able to effectively explain those relationships that are practiced by their firm.
According to Pennsylvania law, if you are buying or selling real estate the agent must explain the various ways they can work with you. The Pennsylvania Real Estate Commission requires the disclosure be made at the first contact when a “substantive discussion” about real estate occurs. The document, required by PA law is the Consumer Notice. After the licensee has presented the “Consumer Notice” and has answered all your questions, you will be asked to sign to acknowledge your receipt of that disclosure. By signing the Consumer Notice simply indicates that the agent has presented it to you and you have received a copy, and it is NOT a contract.
Beware that any information you give the agent is not confidential unless and until you enter into a businessrelationship, which must be established and is not presumed. Hopefully after a discussion of the Consumer Notice you will have a better understanding of the various relationships that the agent can enter into with you.
If you are thinking about buying or selling real estate in Columbia, Montour, or Lower Luzerne County of Pennsylvania, make sure you choose the right real estate professional. I’d love to discuss with you how I can use my experience to your advantage in your real estate transaction. Call, e-mail, or text me today.