Disclosure

REAL ESTATE BROKERAGE DISCLOSURE … BE PRO-ACTIVE.

Congratulations! You are on the edge of making one of the largest purchases of your life!

Think of divorce attorneys, would you want one attorney to represent you AND your ex-to-be? Without knowing if the attorney works for you or your ex-to-be would you tell the shared attorney you would give to your ex-to-be all the cash in the bank and the lake house, because you hit the lottery last night and are hiding it until after the divorce, would you share the reason you want the divorce is because you have fallen in love with some one else and are willing to do anything to be with that person? No?

Okay, why would you share with the real estate agent you just met after calling the number on the sign in front of your dream house how much you are willing to pay, how you have fallen in love with the house, how you have inherited cash from Uncle Joe and will never need to work again without asking who they are working for? Don’t see the problem? Read on…

A Seller’s Agent is required by law to disclose every tidbit of information they can extract from you to benefit the Seller’s position for negotiation.  But having a property listed does NOT automatically mean they are a Seller’s Agent. 

While it is a legal requirement to disclose who the agent across the table from you is working for, take an active role in your experience. ASK who they are working for, ASK who they represent, ask for it in writing. Protect your personal vital negotiating tools, how much you will pay, what you have to spend, why you are buying. Protect this information until you understand the Brokerage Relationship you have with the agent and until you understand if you should be sharing that vital information at all.

The signs are there … if you are pro-active.

A basic guide is … An Agent can not represent both parties, as an Agent they are either responsible to the seller or the buyer. You may be a client, you may be a customer. The third choice is Intermediary, Transitional or Non-Agent. The forth is dual agency; this requires a minimum of 3 licensees in one office, one representing the Seller one for the Buyer, and one to protect the transaction confidences . The relationship between you and the Agent dictates how much information YOU SHOULD SHARE and how much is shared or disclosed to the other party. Be certain you know what type of relationship you have before you talk about how much you are willing to spend, why you are buying or selling, how flexible you can be regarding financing and some material information.

Our office does not practice Designated (Dual) Agency. We will represent Buyers, as Buyer’s Agent, on transactions other than Crazy Woman’s listings (property offered for sale by our office). Property offered for sale by our office is done as an Intermediary to both Buyer and Seller. We believe Sellers and Buyers should have some degree of protection or representation, therefore, unless specifically requested by the Buyer or Seller, we do not have Customers. 

In Wyoming, as in most states, every agent is required to present and explain at the earliest most opportune time one sort of disclosure or another. You should not be hearing about this or seeing this for the first time at the sign of contracts, you should have seen this document and been requested to read and sign way back when you began working with the Agent. You should also not be seeing the other party signing yours or request you sign theirs. A link below will give you an example. These disclosures vary from state to state, Wyoming is just very explanatory!

You should find out just who that agent is working for and just how much BUYER or SELLER information you should share. Got questions, e-us at scoop@CrazyWomanRealty.com or call us at 307-467-5222.

Click for a sample REAL ESTATE BROKERAGE DISCLOSURE with Crazy Woman Realty, Seller Annie Oakley and Buyer Calamity Jane. This Example utilizes electronic signature technology routinely utilized by Crazy Woman Realty for the Sellers and Buyers from around the globe.PLEASE CALL OR EMAIL CRAZY WOMAN WITH ANY QUESTIONS YOU MAY HAVE REGARDING BROKERAGE RELATIONSHIPS.