When buying a home the Agent that you are working with is going to want you to become their Buyer client, while many buyers would choose to be customers. They want to be a free agent with no commitment to an agent.
What does this all mean and why should you become the client vs remain the customer?
Customer:
A buyer may not wish to be under contract as a client with the brokerage but would rather be treated as a customer. As a REALTOR® I am obligated to treat every person in a real estate transaction with honesty, fairness, and integrity. Unlike a client however, I am a representative of the seller until we mandate and sign a Buyer Agency Agreement.
When you choose to be a buyer customer you have to find properties on your own and when you find them I only have to present the facts. I can’t offer opinions on what to pay, whether it’s a good or bad choice, or what to look out for. You are left to decide based only on the listing information. In this market, with a shortage of listings, what would I do when I come across a great property? I will show it to my clients first? I have to. However, with a customer I don’t have to show it to you at all. Or maybe I will show it after all my clients pass on it. It’s something like getting the leftovers. When buying a property what would you like, first choice or the leftovers?
Key Takeaway
As a buyer customer my obligated responsibility is to the seller.
Buyer Customer
My obligated duty to you is:
However
Client:
A 'client' relationship creates the highest form of obligation for a REALTOR® to a consumer. I must protect the interests of the client and do what is best for the client. I must strive for the benefit of the client and must not disclose a client's confidential information to others. I must also make reasonable efforts to determine any material facts relating to the transaction and would be of interest to the client and must inform the client of those facts.
Key Takeaway
As a buyer client my obligated responsibility is to the buyer.
Buyer Client
My obligated duty to you is:
However