Who does your real estate agent represent?

When you walk into that cozy New Jersey real estate office for the first time, do you sit and talk with the agent who is planning to work with you?
If you don't . . . . . . . . . maybe you should rethink that!

Real estate representation is an area of my business that is not easily understood by the general public. Unfortunately, this is also true for some professionals. Years ago, everyone represented the seller. Today, buyers needs are also addressed.

Prior to dealing with any client, agents are legally obliged to explain and advise who they will be representing. After representation (known as "agency") is explained, the client is asked to sign a form to acknowledge that it has been discussed.

Clients are usually reluctant to sign anything presented by an agent they have just met. This understandable reaction on the part of the public is often reinforced by the agents inability to communicate what "agency" is. Because of this, many agents do not even broach the subject.

"Agency" is swiftly glossed over when formal contracts are being signed. Feeling some familiarity with the agent, the form is just another in a stack of documents needing signatures. "Sign here, please."

But it does matter! An agent who has been negligent in educating their client in "agency" has overlooked an important duty. This does not mean that the agent has improperly represented the client, but implies that the client may not know where the agents loyalty has been.

Before you decide to work with any agent, it is important to determine who and how that agent will be representing you. Ask to see the Consumers Information Statement and ask that it be explained to you.