Larry Estabrooks,
Licensed Independent Real Estate Buyer's Agent
Who is representing
you?
You deserve more
than limited representation - get outstanding representation!
Allow me an opportunity to earn your trust.
Representing
buyer clients for 30 years
One of the
secrets
of making the right deal at the right price is having the undivided
loyalty of your
own independent Agent who is on your side. And please note that in New
Brunswick a salesperson is not
an Agent.
(In NB an Agent is like a Brokerage in
other jurisdictions.)
You want to be a client and not merely a
customer.
A customer expects service, a client expects representation.
A client has the undivided loyalty and protection of their agent.
If you're in the market to buy or
lease a home or commercial property in the greater Moncton area, I invite
you to learn about my credentials and professional services as an
independent Agent for the Buyer - a Buyer's Agent.
Learn about
Your Rights when using the professional services
of a licensed real estate agent. I pledge undivided loyalty to my clients
and I deliver it ! Read my
Pledge of Undivided Loyalty.
The Moncton area real estate
market can be challenging.
If you are not totally familiar with the area or the process, why take a
chance?
Quite simply I apply my experience and skills to counsel and advise buyers
and sellers about real estate matters. Whether negotiating your purchase
or marketing your property, you can rely on me to be your independent Agent, working
with undivided loyalty to you and in your best interests.
Searching for listings?
Search ads for
all
Moncton area properties listed on MLS® on
www.REALTOR.ca
Note: All the salespeople and
their employers are working for their respective Seller clients as Seller's Agent.
Be very careful
giving out information if you call or email the Seller's agency /
salespersons.
They
have promised their Seller client to get the highest price and the very best
terms.
They have also
promised to disclose everything you say to their Seller client.
If you're not
being represented, you may wish
to engage me as your Buyer's Agent.
Contact me by email or phone with the MLS® numbers of specific
properties that interest you.
I will get the information for you
from the database without
revealing anything about you to the Seller's Agency.
(Of course this
does not apply to any
property where I am the Seller's Agent.)
I can also
arrange automatic daily emails of the newest listings. As soon as a new
listing is
entered in the MLS® System, you'll receive an email with a link to every new
listing which meets your home search criteria, complete with the address and
price. Click here
to try my free, no obligation service
Your Real Estate Charter
Of Rights
A
Guide to Engaging the Services of a Licensed Real Estate Agent in New
Brunswick
Real Estate Agents do not sell a product, they sell
their service and it's better for consumers, both buyers and sellers, to
close a transaction knowing that they have not made significant decisions
alone, without the help of a professional advisor.
Whether you're a real estate buyer or seller you have
the right to the advice, assistance, and undivided loyalty of your own Agent
in your real estate dealings - if you so choose!
You should never assume that an Agent is acting on your
behalf unless you have made the necessary arrangements for the Agent to be
your Agent.
When buyers engage their own Agent, the Agent is
obligated to obtain the property at the lowest price and best terms
possible.
When sellers engage their own Agent, the Agent is
obligated to obtain the property at the highest price and best terms
possible.
It's your right to make all the business decisions including the terms upon which you engage an Agent.
Property finders/facilitators introduce prospective sellers and buyers
who will communicate, negotiate, and contract directly. Property
finders/facilitators are not licensed nor are they Agents; so they owe no
loyalty to either party. They may solicit payment from both parties and they
cannot be relied upon or held accountable for any advice or assistance in negotiations.
Single Agent
(Buyer's Agent or Seller's Agent) represent the buyer or seller in a
fiduciary capacity. They will represent buyers or sellers, but never both in
the same transaction. Sub-Agents are Agents of the Listing Agency employed
by the Principal and represent the listing Seller.
Dual-agentscan
legally represent both the Seller and the Buyer
with the informed consent of both the Seller and the Buyer.
Dual Agency Agreements vary widely and often do not address conflicts in the duties of loyalty, obedience, disclosure and
confidentiality in the same way. Read them carefully and remember your right
to seek legal advice before you give up any of your real estate rights by signing a double agency agreement.
AGENT - FIDUCIARY
When acting as your Agent, a real estate Agent (and their
salespersons) owe the following fiduciary duties to you, the Principal:
Undivided Loyalty
- which prohibits your Agent from advancing any interests adverse
to yours or conducting your business to benefit him/herself or others.
Obedience - which requires your
Agent to act subject to your continuous control by not exceeding the scope
of authority conferred by you and by obtaining and following your lawful
instructions.
Competence and Reasonable Care -
which requires your Agent to: a) protect you from foreseeable risks of
harm; b) exercise such care, skill, and competence necessary to ensure the
transaction of your business to your best advantage; and c) recommend that
you obtain expert advise or assistance when your needs are outside the
scope of your Agent’s expertise.
Confidentiality - which prohibits
your Agent from using or communicating information confidentially given to
or acquired by him/her within the scope of employment as your Agent.
Full Disclosure - which requires
your agent to disclose affirmatively all information concerning the
transaction of your business which might affect your best interest
including, especially, information about any existing or proposed
interests which might be adverse to yours. To be adequate, such disclosure
must clearly and completely disclose all the facts including their real
effect on your interests and it must occur early enough for you to be able
to use the information to take steps to protect your own
interests.
Accountability - which requires
your Agent to promptly report to you all money and property received and
paid out and, upon request, to render an accounting and return all money
and property lawfully belonging to you.
THE SPECIAL VALUE OF
FIDUCIARY LOYALTY
When a real estate Agent or Agency (and their salesperson
representatives) acts as your
Agent, they must:
* Put your best interests before all others including their own. It is
this undivided loyalty that represents the extra value that an Agent's
services have to consumers over the services of non-fiduciaries, like
dual-agents, who owe no undivided loyalty.
* Not represent interests, adverse to you, in the same transaction in
which they agreed to act as your Agent because of the inherent conflict in
the obligations owed to the two parties. For example, a Single Agent must
not represent the seller and the buyer or the landlord and the tenant in the
same transaction. If your Agent is disloyal, (s)he could be required to
forfeit compensation unless (s)he can prove that you freely gave your
Informed Consent to such disloyalty. For your consent to be informed, your
Agent must show that (s)he made Full Disclosure of the entire truth,
including its real effect on your best interests, in words that plainly
explain the risks and detriments of consenting to any proposal that
basically asks you to waive your right to your Agent's undivided loyalty.
As a licensed independent Agent, upon entering into a service agreement with a Buyer
Client,
I promise that I will:
1.
ALWAYS put the Buyer Client's interests first and negotiate for the
lowest price and most favourable terms possible.
2.ALWAYS
immediately disclose to the Buyer Client any potential conflicts of interest
including any relationships with property sellers, i.e. for sale by owner
advertising, facilitator agreements, or represented sellers.
3.
NEVER represent both the Buyer and the Seller in the same transaction.
6.
NEVER accept incentives to show or to sell any specific property.
7.
NEVER accept incentives to refer a Buyer Client to any specific lender,
inspector, lawyer or any other service provider.
8.
NEVER ask a Buyer Client to waive his/her right to full buyer
representation as is done in double agency.
I have aSingle Agency Policy, I may
represent either a buyer or a seller, but never both in the same agreement of purchase
and sale.
Before you disclose too much information to a licensed salesperson, ask if their
agency has a single agency policy.
Larry Estabrooks, Independent Agent
Moncton, New Brunswick
A Double Agent is like a wolf in sheep's clothing.
Not all Buyer Agents will remain as Agent for their Buyer client exclusively
throughout the real estate buying process.
Many Agency salespeople say they will be a Buyer's Agent however ......
when you become interested in one of their Agency’s listings,
they then ask you to consent to Dual Agency and sign a Dual Agency
agreement.
This is because the salesperson's Agency has already promised to get the
highest price and best terms possible for their Seller client. The
salesperson's Agency is now promising to get you, their Buyer client, the
lowest price and best terms possible. This is a conflict of interest. So in
Double Agency, the Buyer and Seller are asked to consent to devalued or
diminished Agency representation.
When an Agency sells a Seller client's property to the Agency's Buyer
client, the Agency does not have to split the total commission with another
Agency. The Agency retains the most money possible from an individual
property transaction. This action is often referred to as a "double ender".
And further there is an inherent conflict of interest when there are
multiple offers on a Seller's property and one offer is a double ender for
the Agency and any other offers are only single enders.
Beware of the Doubles!
>
Double-cross
>
Double dipping
>
Double dealing
>
Double enders
>
Double talk
and the Double Real Estate Agent
Is your trusted real estate advisor a Double Agent ?
You do not have to accept less. Demand full representation!
Find an Agent that will fully represent your best interests without limits.
Beware of the Doubles!