Why need a real estate professional (REALTOR®) to represent you as buyer in a purchase transaction?

Many people question whether or not they can buy homes without a real estate agent representing them?

They can, but the downside is that the listing agent may take advantage on the buyer. 

Remember, the listing agent has fiduciary duties to act in the seller’s best interests, not you the buyer. That said, without a REALTOR® representing you in a purchase transaction, not only you as buyer receive limited services but also your buyer's consumer rights listed below will not be protected.

A REALTOR® when representing you in a purchase transaction acts as your buyer’s agent and you the principle, he/she has fiduciary responsibilities to protect your consumer rights, including:

1. Loyalty. A REALTOR® must act only in your best interests.

2. Full disclosure. A REALTOR® must tell you everything he/she knows that might influence your decision in a transaction.

3. Avoid conflict of interest. A REALTOR® must always avoid any situation that would affect his/her duty to act in your best interests.

4. Confidentiality. A REALTOR® must not reveal your private information without your permission, even after your principle-agent relationship ends. That include your reason to buy, your minimum/maximum purchase price, any preferred terms and conditions you may want to include in a contract.