What Does Buyer Agency Mean To You?

New Massachusetts laws defining how real estate agents represent Buyers went into effect on July 1, 2005, bringing Massachusetts into line with the practice of other New England states. As a Buyer, you are now able to have the same level of assistance and representation during the search for and purchase of your home as a Seller has from his/her Seller Agent in the sale of his/her home.

A Buyer can engage the services of a real estate agent to purchase property, and the real estate agent is then the agent for the Buyer. This means that the real estate agent represents (you) the Buyer, and must put your (Buyer’s) interests first and negotiate for the best price and terms for you, the Buyer.

The agent owes the Buyer:

• Undivided loyalty
• Reasonable care
• Disclosure (of all material defects in a listed property known by the agent)
• Obedience to lawful instruction
• Confidentiality
• Accountability

At your first meeting with a real estate agent who is about to show you a house, you will be asked to fill out a new form called the Mandatory Licensee-Consumer Relationship Disclosure form. The form asks the real estate agent to identify the relationship with you, the consumer. The back of the form explains seller agency, buyer agency, designated seller agency, designated buyer agency, disclosed dual agency, and facilitation. If you’d like to view this form, it can be found at www.mass.gov/dpl/boards/re.