Are you a Client? or just a Customer...

What is the working relationship you have with a Realtor(R)? Client or Customer? Each carries specific (and limited) duties. Take steps to find out and protect your interests.

The State of Alaska says that at “first substantive contact” real estate representatives are to provide basic information regarding representation relationships. When that first 'in-depth' contact happens can vary from situation to situation depending on the topic of conversation, but Lori would rather just tell you now so that more of the public understands that there is a very big difference between being a customer and being a client.

So, here is some of the information you'll need to begin to protect yourself. Which relationship you choose for yourself directly affects: your access to properties for sale, information, quality services, advice & protection.

As a Customer, like it or not, your working relationship with a REALTOR is one of convenience ONLY (your convenience and the REALTOR’s convenience as well). The REALTOR may be working "with" you but not "for" you. As a customer, there may well be absolutely NO obligation created on the part of the Real Estate Representative (or their company) for a particular quality or level of services.  Additionally, you should have NO expectation of: representation in your best interests, loyalty, obedience, confidentiality, accountability, diligence, or disclosure of information *other than known material property facts, which always have to be disclosed*.

Any customer is strongly advised to keep confidential all private, financial, strategic, motivational & other information which could adversely affect the customer’s present or future bargaining position. Because, any such information provided to a REALTOR will be relayed to & used in the best interests of that real estate company's clients as required by law. Honesty in dealings and disclosure of known material facts about a property can be expected as a customer, but it is only your own continuing responsibility to ensure that you have the information you need to make informed decision and that your own best interests are represented.

A "Representation" relationship makes the difference in whether you are a customer or a client in the real estate transaction. And any real estate representative should be able to clearly demonstrate which of their services are offered to customers and which are reserved especially for loyal clients.

Until such time that you are comfortable with, or feel you would gain additional benefit from CLIENT-level services, Lori is happy to work with you under the above customer arrangement. Note: home buyers should remember that even in today's looser local home buying market—most or all of a buyer’s REALTOR fee is still often (Note: *often* NOT *always*) paid for by sellers who list their homes with REALTORS in the Multiple Listing service (MLS)—and is even paid for by many For Sale By Owner (FSBO) sellers-which Lori works with on a regular basis tracking FSBO availability, as this is one of the unique extra services offered to her clients.

If you would like additional information regarding the higher-level of Buyer-CLIENT services that Lori can provide in your search for a home, please contact Lori and she will be happy to chat with you.