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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

  • Pending Sales for Massachusetts Homebuyers Maintain Steady Year-Over-Year Increases for Almost Four Years This February

    WALTHAM, Mass. – March 14, 2017 – The Massachusetts Association of Realtors® (MAR) reported today that ongoing buyer demand pushed pending sales up three percent over last year. Pending sales have been up 47 of the last 48 months, marking almost four years of positive gains in single family homes put under agreement. Realtors® confidence both in the market and in home prices was positive in February. 

     February Pending Sales:  

    Single Family February 2017 February 2016 % Change
    Sales 3,967 3,852 3.0%
    Median Price $330,000 $309,000 6.8%
    • Pending sales have been up 47 of the last 48 months  
    Condominium February 2017 February 2016 % Change
    Sales 1,558 1,566 -0.5%
    Median Price $313,000 $290,000 7.9%
    • Pending sales have been up or flat 17 of the last 18 months  

    “Buyers have been tireless these past four years, showing that the desire to live and work in Massachusetts is strong despite dwindling inventory and rising prices,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway.  

     Realtor® Market and Price Confidence Indexes:  

    Confidence Index February 2017 February 2016 %Change
    Market 75.20 68.66 10%
    Price 77.00 75.70 2%
    • The Realtor® Market Confidence Index was up for the 11th straight month
    • 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  

    “This is the highest recording Market Confidence Index for the month of February since we began recording the data in 2008,” said Yorkis. “This speaks to the strength of the market this past year, as well as looking ahead to the spring market of 2017."