Disclosure: Robert Kothe is a Licensed NYS Real Estate Salesperson with:
Signature Premier Properties
Click here to see the official explanation of “Agency” as written by the New York State Department of State. It is on an official New York State Disclosure form for Buyers and Sellers.
Disclaimer: This form is the only official explanation of “Agency”. The rest of this website is an interpretation intended to make it clearer.
This concept is important because it has to deal with loyalty, relationships, and fair-dealings. Because Robert Kothe is licensed with the state of New York for Real Estate, it is important to provide the services that you, the customer want, without crossing a line and having any misunderstandings about where the boundaries are.
Using our Real Estate License or not, we believe in fair housing and hope you do also. Everyone has the right to own a home. Please do not hire us even for marketing if you do not agree.
There are several types of relationships you can enter into with our company or Robert Kothe (Licensed in Real Estate).
Important Note: If you are looking for Real Estate support beyond marketing support, you will be working with Signature Premier Properties the firm where Robert Kothe is a Licensed New York State Salesperson with. The New York State Department of State strictly enforces guidelines that Licensed Real Estate professionals adhere to including fair housing.
Signature Premier Properties
No matter who you are you are automatically entitled to fairness and honesty. This is your basic right. It does not matter if the real-estate professional is representing you or any other party; first and foremost a licensed professional is expected to be honest and fair. Honesty does not mean they are expected to tell you everything that you ask. In fact, they are expected not to tell you everything that you may ask if what you are asking about is in violation of the rights of the party that they represent. A salesperson that is representing the seller is not allowed to disclose if a seller is motivated or not. A salesperson representing the seller cannot disclose the lowest amount that the seller is willing to take for the property. This goes against the seller’s right to loyalty. Expect honesty when it comes to material facts such as lead disclosures of if there are any known leans on the home.
Wow the person at the open house is so nice…
Sellers Agent and a Brokers Agent are hired to represent the seller. Their total loyalty belongs to the seller. These are often the very same people a customer may meet at an open house. A customer is a person who visits the open house to see the home. The Sellers agent or Brokers Agent working at the open house is required to first explain Agency to the customer before anything of substance is discussed. This is because a customer may accidentally disclose information that they normally would not want the seller to know. They may say something like, “This house is amazing. I will pay anything for it and failure is not an option.” Since the person working at the open house is obligated to share this information with the seller the seller might decide to raise the price since you already showed your hand.
Put simply, this means you contracted with Signature Premier Properties to completely represent you with the sale of your home. You are entitled to complete loyalty. We can also add services that Real Estate professionals are only able to use such as representation on Multiple Listing Services. We work for you and only you. The best part is you get the Real Estate experience of Signature Premier Properties and the marketing experience of Robert Kothe. We can include many of our premium marketing services as part of the representation of your home. We can provide home showings, open house showings, and field and offers.
Click here to learn more about Signature Premier Properties
A Buyers Agent is required to provide her or his loyalty to the buyer. They are not legally bound to the seller in any way. It is a Buyers Agents job to make sure the buyer has representation. They can act on behalf of the Buyer to try and get the right price and find out what the buyer needs to know. They can not share any information that can potentially hurt the buyer in the transaction. Their “Poker-face” might be what it takes to save a few thousand on the purchase and to keep the sellers guessing.
When the Brokerage firm who is selling the home is also the same brokerage firm that is acting as a representative of the buyer the sale is said to be in “Dual Agency”. Because of this the Broker who owns the brokerage has a potential conflict of interest. They are supposed to help the seller and they are also contracted to help the buyer. This conflict needs to be known and agreed upon by all parties. Even when agreed upon, the Broker is now expected to act as a neutral party and not take sides.
One way to minimize the effects of Dual agency is to designate separate representatives from the brokerage firm to each represent the buyer and seller separately. This is called “Dual agency with designated sales agents”. Water cooler talk is a no-no and meetings in the firm could be awkward but in the end the buyer and seller may have an extra bit of help to look after them and still deal with the same firm.
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