What is Agency?
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Agency describes the relationship between you and your agent.  There are three types of relationships: Buyer, Seller and Disclosed Limited Agent. In an agency relationship the agent owes to his/her client the following duties:

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Loyalty - Confidentiality - Obedience - Disclosure - Full Accounting

The duty to use skill, care & diligence.

When HR Realty Group is hired by a buyer, the buyer’s representation agreement will authorize HRRG and it’s agent to represent the buyer exclusively in finding a property.  The Buyer’s agreement will also spell out who is responsible for commission owed and what will happen in certain circumstances such as dealing with a FSBO or  Disclosed Limited Agency. 

When HR Realty Group is hired by a Seller, the listing agreement will authorize the firm and it’s agents to represent the seller exclusively. The listing agreement will also spell out who pays commission, the amount of commission and what percentage will be offered to a cooperating broker as well as what would happen in a disclosed limited agency situation.

As disclosed limited agents, HR Realty Group and it’s licensees are authorized by both Buyer and Seller to represent both of them in a transaction.  Buyer and Seller understand that this limited agency relationship may create certain conflicts of interest, and that the Agent is representing clients whose interests are different and possibly even adverse. .  A disclosed limited agent may not disclose to the buyer that the seller will accept less than the asking or listed price or to the seller that the buyer will pay a price greater than the price submitted in a written offer to the seller, the motivations of the represented parties, or that the client's) will accept terms other than those offered, unless otherwise instructed in writing by the party to whom the information is confidential. Licensees shall not give legal or financial advice. Customers should keep private any information they do not want the client to know (i.e. the price they are willing to take or to pay, other terms they are willing to accept, and their motivation for selling or buying). Customers should not furnish the client’s agent anything they do not want the client to know.

• Licensees operating in the capacity of disclosed limited agents must present for signature of seller and buyer a Disclosed Limited Agency Confirmation Form that is specific as to property and parties, prior to execution of a contract between the seller and buyer.

The licensee shall obtain from the seller and the buyer, at or before the time of execution of a contractual agreement, confirmation of their consent to limited agency evidenced by their signatures on the  Consent to Disclosed Limited Agency Form. This consent form is buyer, seller and property specific.

In the event a party is not available to sign a disclosure form, the disclosure is to be made orally. The applicable form is to be noted by the licensee and forwarded for signature as soon as possible. Written electronic submission will fulfill this requirement.