In New Jersey, Realtors use a document which is called a CIS (Consumer Information Statement). This document explains what a Buyer’s Agent is. You should receive a copy of the CIS the first time you meet with a Realtor.
There are four different possible relationships between a Realtor and their client.
This post gives a quick synopsis of the relationship between a client and a buyer’s agent. Additional posts are available which describe the other relationships.
A Buyer’s Agent works for the buyer, and only the buyer. The Realtor has legal obligations, which are called fiduciary duties. You’ll find that these duties include reasonable care, undivided loyalty, confidentiality and full disclosure. Frequently a Seller’s Agent will also work with the sellers. But they don’t necessarily represent the sellers. When a Buyer’s Agent does work with sellers, they’re required to act honestly.
By definition, a Buyer’s Agent includes all licensed persons with the brokerage firm.
In Plain English
Here’s how I describe the Buyer’s Agent and their responsibilities. A buyer’s agent must treat everyone fairly. But make no mistake, they work for the buyer. And they should do whatever is good for the buyer.
This description of a Buyer’s Agent is my interpretation only. In fact, the CIS is part of the paperwork necessary to purchase a home. I strongly suggest that you read the entire CIS carefully before you sign it. Remember, this is a legal document. If you want me to send you a copy, contact me .
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