Bruce & Pam Wachter, REALTORS
Whether you're buying or selling White Mountains Arizona Property, Bruce & Pam Wachter have the experience knowledge, and friendly attitude to make the process pleasant for you! Call us for all your White Mountains Arizona Real Estate needs!
|It's all about you. Your life, your home, your investment. We understand...
And that's why you need our representation.|
It is important because ... A consumer who is self-represented in a real estate transaction, has a fool for a client. In the majority of transactions, the consumer, whether a buyer or a seller lacks both the knowledge and the experience to adequately represent themselves.
Therefore, a consumer’s best interest is served when they are legally represented in a fiduciary relationship, under either a listing agreement, a buyer broker’s agreement or both, by knowledgeable, experienced and INSURED agents.
When we legally represent you, we are legally obligated to perform the following duties. Are YOU legally represented? Get It Now!
|Fiduciary Duties Of A Real Estate Agent: A real estate broker who becomes an agent of a seller or buyer is deemed to be a fiduciary. Other examples of fiduciaries are trustees, executors, and guardians.|
|As a fiduciary, a real estate broker is held by law to owe specific duties to his/her principal (the person who they are representing), in addition to duties or obligations set forth in a listing agreement, buyer representation agreement, or other contract of employment. These specific fiduciary duties include:
Reasonable Care and Diligence
One of the most fundamental fiduciary duties an agent owes to the principal. The duty obligates a real estate broker to act at all times, solely in the best interests of the principal, excluding all other interests, including that of the broker.
Must do everything possible to gain an advantage for the Buyer.
An agent is obligated to promptly and efficiently obey all lawful instructions of his/her principal that conform to the purpose of the agency relationship. However, the duty does not include an obligation to obey unlawful instructions, such as instructions to not market a property to minorities or to misrepresent the condition of a property.
Must obey all lawful instruction of the Buyer, is not obligated to obey instructions from the Seller.
An agent must disclose to the principal all known relevant and material information that pertains to the scope of the agency. The duty includes any facts affecting the value or desirability of the property, as well as any other relevant information pertaining to the transaction, such as the other party's bargaining position, the identity of all potential purchasers, information concerning the ability or willingness of the buyer to offer a higher price, any intent to subdivide or resell the property for a profit.
Must tell Buyer everything they can find out about the Seller including the motivation for selling and any reasons the Seller may have for wanting a quick sale. Must tell Buyer everything they can find out about the property, including any known or suspected problems with the property or area.
An agent is obligated to safeguard his/her principal's lawful confidences and secrets. Therefore, a real estate broker must keep confidential any information that may weaken a principal's bargaining position. The duty of confidentiality precludes a broker who represents a seller from disclosing to a buyer that the seller can, or must, sell a property below the listed price. Conversely, a broker who represents a buyer is prohibited from disclosing to a seller that the buyer can, or will, pay more than what has been offered for a property.
Must keep all information about the Buyer confidential, including the Buyer's ability or willingness to pay more for the property than they are offering as well as the Buyers motivation for buying.
|Reasonable care and diligence|
An agent is obligated to use reasonable care and diligence when pursuing the principal's affairs. The standard of care expected of a buyer's or seller's real estate broker is that of a competent real estate professional. By reason of his/her license, a broker is considered to have skill and expertise in real estate matters superior to that of the average person.
Buyer’s Agent: Must prepare themselves through education and study to competently represent the Buyer in all matters.
An agent is obligated to account for all money or property that belongs to his/her principal entrusted to that agent. The duty compels a real estate broker to safeguard any money, deeds, or other documents entrusted to them relative to their client's transactions of affairs.
Must account to Buyer for any money or documents entrusted to them.
Our Pledge to the Buyer
Our Pledge to the Seller
NOTICE: As a prospective purchaser of real estate, you
should be aware that cooperating ("selling") brokers and sales associates can
work for you as your agent, in which case they represent you and owe you
the fiduciary duties of loyalty, confidentiality, disclosure, diligence and
care; or with you as a subagent (unless prohibited by law) of the
listing broker, in which case they represent the seller, and the fiduciary
duties are owed to the seller; or with you as facilitators (as permitted
by law) representing neither party to the transaction; or in such other brokerage
relationship as may be permitted by law. In any case, as real estate licensees,
we are at all times obligated to treat you honestly and fairly, and in most
states (and provinces), inform you of our particular representation status. In
any event we do not represent (work for) you in the transaction, should
you feel it necessary or desirable, you can obtain representation from a lawyer
or another real estate broker or both.
CAVEAT: DO NOT RELY ON THIS NOTICE AS DESCRIBING THE ACTUAL REPRESENTATION STATUS OF OUR OFFICE CONCERNING THE SERVICES TO BE PROVIDED TO YOU AS REFLECTED IN THIS PLEDGE CERTIFICATE. SPECIFICS OF OUR ACTUAL REPRESENTATION STATUS ARE SET FORTH IN A SEPARATE WRITTEN AGENCY DISCLOSURE.