Agency

Have you bought or sold a home lately? If not, there have been some big changes lately regarding agency. Agency is all about whom the realtor works for. If you call me and say “hi, I’ve found three homes I’m interested in seeing, would you be able to show them to me tomorrow?” I’d say, I’ll call you back after I ask permission from each home owner. Then, if the homeowner approves, we’ll agree to meet. Ideally, we’ll meet first in my office to discuss what you’re looking for and see if these homes meet your needs. Then, in the driveway (if that’s our first meeting), before we enter the home, you must initial a Massachusetts Agency Disclosure Form. This is not a contract. It does not obligate you to do anything. It is strictly a consumer protection form to let you know whom I work for. In the situation described above, we would check the “buyer’s agent” and I’d tear off the top pages and give them to you. Those pages describe all the types of agency legal in Massachusetts. If you do not wish to initial the form, that is allowed by law. I would then have to check the box saying you do not wish to sign. But I still have to write down your name on the form and give you the top pages. This is necessary by law at the first face-to-face meeting. So, if your realtor doesn’t do this at your first meeting, think long and hard about whether you really want to work with them.