How Your Agent Will Represent You (California)
Real Estate Agency Relationships (As required by the Civil Code)
When you enter into a discussion with a real estate agent regarding a real estate transaction, you should from the outset understand what type of agency relationship or representation you wish to have with the agent in the transaction.
Buyer’s Agent
A selling agent can, with the Buyer’s consent, agree to act as agent for the buyer only. In these situations, the agent is not the Seller’s agent, even if by agreement the agent may receive compensation for services rendered, either in full or in part from the Seller. An agent acting only for a Buyer has the following affirmative obligations:
- To the Buyer:
- A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealing with the Buyer.
- To the Buyer and the Seller:
- Diligent exercise of reasonable skill and care in performance of the agent’s duties.
- A duty of honest and fair dealing and good faith.
- A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the parties.
An agent is not obligated to reveal to either party any confidential information obtained from the other party that does not involve the affirmative duties set forth about.
