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What is Agency Disclosure

Start the Home Buying Process Strong

Start strong. Protect yourself and your interests as a home buyer. Don't skip the critical first step out of the gate: clarifying the role that your real estate professional is going to play for you. Agency disclosure clearly defines that role. Are they a seller agent? Buyer agent? Dual agent?

It is in your best interest not to reveal any confidential information to brokers or agents who do not represent you. If you want advice and advocacy, find a buyer´s agent who will pledge to be on your side throughout your transaction.

Before you get into the starting gate, do your homework and clearly define the expectations you have for a broker. Are you comfortable working with a seller agent? Do you want a buyer agent to be assured that your best interests as a home buyer are being served?

What is Agency Disclosure in the Massachusetts Real Estate Market?

Have you identified the type of agent you want and interviewed multiple agents to select the best fit for you? Then you are then ready to complete the agency disclosure form with your agent to have your agreement in writing.

Agents are required by law to provide this form to you when you first meet to discuss a property. A sample disclosure form from the state demonstrates how licensees are required to disclose whether they represent buyers, sellers, or both.

Protect your interests and do not rush to agree to an agency disclosure that does not fit with the type of broker that you want. Hastily agreeing to an agency disclosure can be very costly.


Latest from the Blog

  • Massachusetts Pending Home Sales and Median Price Up Again in June

    The Massachusetts Association of Realtors® (MAR) reported today that single-family pending home sales were up over nine percent in June from last year. Pending condominium sales were also up more than 12 percent. The median price for both single-family homes and condos saw a hike, with the single-family median price rising over the $400,000 mark. Realtors® confidence both in the market and in home prices dipped slightly in June. This month’s “Hot Topic” question finds that the majority of Realtors® surveyed have had at least one transaction that was an all-cash deal (i.e. no mortgage involved) since the beginning of the year.

    June Pending Sales: 

    Single Family June 2017 June2016 % Change
    Sales 6,723 6,128 9.7%
    Median Price $410,000 $380,000 7.9%
    • Pending sales have been up 51 of the last 52 months 
    Condominium June2017 June2016 % Change
    Sales 2,596 2,307 12.5%
    Median Price $370,000 $349,900 2.9%
    • Pending sales have been up or flat 20 of the last 22 months 

    “The increase in homes put under agreement this month may be a positive sign for a spring market that has suffered plummeting inventory,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway. “However, median prices have continued to rise, which can push some buyers out of the market.”

    Realtor® Market and Price Confidence Indexes: 

    Confidence Index June2017 June2016 %Change
    Market 80.73 80.97 -0.29%
    Price 71.79 73.87 -2.82%
    • The Realtor® Market Confidence Index went down for the first time in 27 months
    • The Realtor® Price Confidence Index went down for the first time in six months
    • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition  

    “The Realtor® Market Confidence Index has dipped year-over-year for the first time in over two years, indicating that Realtors® are growing concerned about some of their buyers being able to succeed in this market,” said Yorkis. “However, both indexes reveal that ultimately Realtors® remain positive. We just need to see more inventory to keep up with the demand.”

    With home inventory being as tight as it is, you want to give yourself every advantage if you are thinking of buying a home in Massachusetts. For the best possible experience, be sure to work with an agent who is a member of the Massachusetts Association of Buyer Agents.