By law, a Seller’s Agent MUST “promote the interests of the seller with the utmost good faith, loyalty and fidelity” and MUST “protect the seller’s confidences…” If you are a seller, you SHOULD hire a seller's agent that will do just that. But if you are a BUYER........
What Should a Buyer Do?
It is important to understand that a seller's agent in ONLY looking out for their seller.... that is their job. Using a seller's agent when you are on the buying side can compromise your ability to negotiate the best deal for YOU. Anything you say to a seller's agent is not confidential and will be shared with the seller. By law, the seller's agent must "promote the interests of the seller" with no regard as to what is best for you, the buyer. They have no duty to share anything with you that the seller may have shared in confidence. Their duty is ONLY to the seller.
By law, a BUYER’S agent MUST “promote the interests of the buyer with the utmost good faith, loyalty and fidelity” and MUST “protect the buyer’s confidences…” Having a buyer's agent will ensure that you are being fully represented. A buyer's agent is ONLY representing you and will work to negotiate the best deal for YOU, not the seller. A buyer's agent can help you navigate all the paperwork that comes with purchasing a home and will protect your interests. Another perk to having a designated buyer's agent is that the fee is paid only at closing and is generally paid by the seller!
So when deciding to buy a home, make sure that you hire a BUYER's agent who will work hard just for you!