Page 31 - Robeson Living Winter2019

Working with Real Estate Agents –

Agency Disclosure in North Carolina

By Martina Erdmeier
Broker-in-Charge
THE REAL ESTATE BOUTIQUE
“Personalized Service-Outstanding Results”

The North Carolina Real Estate Commission requires that chasing a home, always make sure you are represented buy
every Real Estate Agent discloses their agency status to your own Buyers agent. The Buyer’s agent will have your
both buyers and sellers in every Real Estate transaction. best interest at heart, negotiate for you and make sure that
you are well represented.
What does that mean to you?
Best of all….a buyer’s agent is in most cases of NO Cost
For example, you drive through a neighborhood you would to the buyer. The commissions are traditionally paid by
like to live in and see a house for sale. You decide to call the seller.
the agent on the sign (listing agent) to get information about
the property and to schedule a showing. When you get to In summary, always have your own agent. Think about it –
the showing and meet the listing agent, he or she is required how can the listing agent properly represent you if his /her
by the North Carolina Real Estate Commission to disclose first responsibility is to the seller? Being a dual agent re-
their agency status no later than first substantial contact. duces the agent to the role of a mediator since he/she knows
First substantial contact is described by the commission as: confidential information from both sides.
The moment when the conversation between a Real Estate
Agent and a consumer shifts from facts about the property Be informed and make sure your agent discloses and dis-
to possible confidential information about the consumer’s cusses his agency status with you!
needs, wishes and abilities or when the consumer or broker
begin to act as if there is a fiduciary relationship. For additional information, please see the “Working with
Real Estate Agents” Brochure published by the NCREC.
This means…. the listing agent represents the SELLER
and not you, the potential buyer. The listing agents first re- You can download a copy here: https://www.ncrec.gov/
sponsibility is to the seller – therefore, when you are pur- Brochures/WorkingwAgents.pdf

Robeson Life ~ Winter 2019 Page 31