Customer or Client The decision to purchase real estate can be one of the most rewarding events in your life. It is likely your largest single investment decision. The process can be complex and confusing. Our goal is to assist you in understanding how we, as real estate professionals, work at Prudential Network Realty. We are dedicated to doing everything possible to see that you have a smooth transaction. This is the first step in the process. The State of Florida has a law requiring all real estate licensees to disclose fully whom they represent in a transaction. This is for the protection of all parties. The law further requires that this disclosure be made before the purchase agreement is signed. The following information is provided to inform you of your alternatives. Please read all of this information carefully. We will gladly answer any question that you may have. You may also choose to seek the advice of an attorney knowledgeable in real estate matters before entering or completing any transaction. Relationships Agency relationships are based on one person representing the best interests of another. Real estate agents are licensed by the state to represent a person in the sale or management of a property. The responsibility of the agent is defined by Florida state law, the REALTORS® Code of Ethics and general principles of agency law. The type of relationship formed between the agent and the client is called a fiduciary relationship. A fiduciary relationship is one based on trust because the agent owes the following duties to the client: Loyalty Obedience Diligence Disclosure Confidentiality Accounting Reasonable Care The courts strictly enforce the agency duties so that the client can rely on the agent putting the clients’ interest before that of anyone else. The courts also require that real estate agents be fair and honest in all aspects of the transaction. In short, the agent owes its allegiance to the buyer or seller who has client status. If you do not wish to retain Prudential Network Realty as your agent to represent you in the selection and purchase of property and simply wish to purchase one of our many listings, you will have customer status. As a customer, we cannot negotiate on your behalf or make tactical recommendations and act as your representative. However, we can provide you with many valuable services; we can set up showing appointments, assist in completing the standard purchase agreement, present your offer to the seller, explain basic financing alternatives, explain real estate terms and practices, and disclose all material facts about the property and the neighborhood that are known to us. A large number of our corporate relocation clients choose to name Prudential Network Realty as their Buyer Agency when purchasing a new home. Most all of our customers have recommended their friends, colleagues and family to Prudential Network Realty as their Realtor® of choice. As your Buyer Agency, you will have peace of mind knowing you have selected a real estate professional who can interpret local law customs, review contracts, is knowledgeable of home inspection procedures and disclosure laws and will work to negotiate a transaction that is in your best interest. Why Use a Realtor? Because your home may be the largest single purchase you will make in your lifetime, you will want to make sure you are getting top-level professional advice. That’s why you will want to partner with a Realtor® to help with your home purchase. You may ask yourself: “How is a Realtor® different from a real estate agent?” Using a Realtor® for your real estate transaction not only puts you in the care of a trusted professional who subscribes to a Code of Ethics, but ensures you will be working with someone who is dedicated to making sure you are treated with the dignity and respect you deserve. Choosing a Realtor® means you are putting your trust in a professional who has agreed to stay abreast of the latest laws and trends in the real estate industry. Only a Realtor® has the seal of approval of the National Association of Realtors®. You can easily identify a Realtor® because they are among a select group who are permitted to use the “registered” ® seal on their promotional materials, including business cards, brochures and advertisements. And studies show Realtors® are trusted professionals. An independent survey stated that 84-percent of all homebuyers stated they would use the same Realtor® again for their next home purchase. In today’s real estate environment, transactions usually exceed $100,000. If you encountered a $100,000 legal problem, you would seek help from a qualified professional in the legal field. The same rule should apply to buying a home. Seek out a professional Realtor® to help ensure your transaction runs smoothly. A professional Realtor® can help you analyze your current financial situation and determine your buying power, whereas, most banks and mortgage companies have limited resources to help you make this determination. A Realtor® is trained to help you review your income, debt, and available savings in order to refer you to the lender who will best meet your needs. Your professional Realtor® also has many industry resources to help in the search for that perfect real estate transaction. For example, you may want to buy some investment property. Your Realtor® can conduct an investigation to find all available property that meets your criteria. A Realtor® can be counted on to provide you with objective information about each property you review in your search. Count on your Realtor® to be the source of information to find out about zoning, schools, utilities and the like. A Realtor® can also help answer questions about the investment aspects of a particular property or the future resale value of the property, based on historical data. By choosing a Realtor®, you have chosen a professional who can provide you with due diligence during the evaluation of the property. Your Realtor® can assist you in finding qualified professionals who can inspect your potential new home for such challenges as termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well testing. And when you are in the market to sell your home, a Realtor® can recommend cosmetic repairs or other work that will significantly enhance the marketability of your property. The Realtor® Code of Ethics requires Realtors® to use cooperative relationships to benefit their clients, such as the use of a Multiple Listing Service, cooperative marketing networks and open houses for agents. So, before your next home purchase, make sure you seek the professional assistance of a Realtor®.