To understand the different relationships available to the New Hampshire consumer and the pros or cons of hiring a buyer`s agent, one must first understand the concept of the agency. In accordance with the application of the common law, an agent is a person entitled to represent the interests of another person. An agency relationship imposes fiduciary duties on the agent – he or she owes his client (the person they represent) the duties of due diligence, competence, obedient, accounting, loyalty and disclosure. The New Hampshire Association of Exclusive Buyer`s Agents was established in January 1995 to bring together real estate professionals who truly believe in the common law of agency and the benefits of undivided loyalty to and to buying clients. A good agent usually works full-time and has at least several years of experience. If you are a buyer, you generally do not pay for your agent`s services (in the form of a commission or a percentage of the sale price of the house). All agents of a transaction are usually paid by the seller on the proceeds of the sale. You can also hire and pay your own broker, the buyer broker, whose legal obligation is solely yours. A licensee working “with” a client can implement a departmental administrative file including the presentation of ownership, the preparation and presentation of bids and agreements, as well as the provision of information and assistance regarding the transaction.
NHAEBA is an independent alliance of real estate professionals who handle the growing business practice of the Exclusive Buyer Representation and who, as such, never represent buyers and sellers in the same transaction. The written agency contract is with the company and not with the individual agent. The seller/landlord and/or buyer/tenant may be held responsible for the actions of the representative and any sub-agent if these acts occur within the framework of the agency relationship. However, some offices – including Keller Williams Realty Metropolitan – have taken over from the design agency. In the situation described above, Helen would only represent her in a Design Agency office as a buyer and that the ad agent – let`s call him Tom – would only represent the seller. No one else in the office would have a relationship with the buyer or seller.