What is Agency Disclosure
An agent is bound by State Law to disclose and declare their Agency when having substantive conversations with potential buyers. That form is attached. This disclosure is not a contract, as your buyer’s agent, it’s a promise from me to you of the following:
Loyalty
A buyer’s agent must act in the interest of the buyer.
Obedience
Must follow the lawful instructions of the buyer.
Confidentiality
Any discussions, facts or information that should not be revealed to others. All financial disclosures kept in confidence We have helped many celebrities and top level executives. We’d tell you whom, but then we’d have to …
Accounting in Dealing
Reporting location of any money placed in the hand of the agent. All discussions involving money are to be 100% transparent with regards as to who gets what at all times.
Reasonable skill and care
In addition to market experience, agents are expected to have a heightened ear for anything and everything. This means not taking anything at face value, referring experts to certify anything that may be in doubt, and maintaining a professional and courteous deal environment.
Disclosure of all materials and facts
Examples of, but not limited to:
Seller’s financial condition
Anything that would affect the value of a property
Relationships between agent and other parties
Data-driven market analysis
In addition to disclosing who is representing who, the NYC Fair Housing and Discrimination Disclosure as of May 2020, was instated to furthermore allow for transparency and fair dealing for all buyers.
It is unlawful for any property owner, landlord, property manager or other person who sells, rents or leases housing, to discriminate based on certain protected characteristics, which include, but are not limited to race, creed, color, national origin, sexual orientation, gender identity or expression, military status, sex, age, disability, marital status, lawful source of income or familial status. Real estate professionals must also comply with all Fair Housing and Anti-discrimination Laws.
We DO NO tolerate discrimination, unless financially you are not qualified to make a purchase. If you are not sure of your purchasing power, please contact your mortgage banker or bank directly to discuss.
