Coldwell Banker Real Estate Now · (731) 668-1777 · Each office is independently owned and operated.

Understanding Buyer Agency Laws

It's important to understand what legal responsibilities real estate agents and buyers have to each other and to other parties involved in a real estate transaction.

By law, a real estate agent must explain what type of agency relationship you, the buyer, will have with them and with the brokerage company they represent, and in order for the agreement to be binding, a buyer agency agreement must be signed by the buyer and the agent. A verbal agreement between a property buyer and an agent does not consitute an agency relationship. The agency relationship must be in writing and signed by both the buyer and the agent prior to any real estate service being performed. If a buyer agency agreement is not signed, the agent will be working as a facilitator, officially representing no one.

Once a buyers agency agreement is signed, their are certain duties your agent is required to perform. These duties and to whom they are directed to are listed below.

Duties owed to all parties include:

Duties owed to you, the buyer:

In addition, Coldwell Banker Real Estate Now has adopted a Designated Agency policy. This means one agent has been "designated" to represent you. The agent you enter into a buyers agency agreement with will be your Designated Agent. Speaking only to your designated agent is in your best interest since all other agents of the firm do not officially represent you.

The agency relationship you have with your agent could change during the process of locating and purchasing property. For example, if your Designated Agent is also the listing agent on the home you wish to purchase, the agent will need to discuss with you your options since your Designated Agent has duties owed to both the buyer and the seller. This is necessary to ensure all parties involved are working in the best interest of those they have agreed to represent.

For more information about Buyer Agency in Tennessee, please read this consumer handout distributed by the Tennessee Association of Realtors.

Coldwell Banker Real Estate Now is a registered trademark licensed to Coldwell Banker Real Estate Now. Coldwell Banker Real Estate Now is licensed in the State of Tennessee. Each Coldwell Banker Real Estate Now office is independently owned and operated.

Pam Blasingame is a Realtor® with Coldwell Banker Real Estate Now, 327 North Parkway, Jackson TN 38305, (731) 668-1777.

The data relating to real estate for sale on this website comes in part from the IDX Program of the Central West Tennessee Association of Realtors® Multiple Listing Service. Copyright 2015 MLSCWTAR. All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The accuracy of all information, regardless of source, including but not limited to square footages, lot sizes, or school districts, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. The information contained within this website is provided solely for informational purposes and does not constitute an offer to sell, rent, or advertise real estate outside the State of Tennessee. The owner is not making any warranties or representations concerning any of the properties listed including their availability.

If you are NOT represented by a real estate agent or broker, I would love the opportunity to help you with your real estate services. Please contact me regarding ANY of the properties listed on this website. If you ARE represented by a real estate agent or broker, please contact them regarding any property you locate on this website. It is not my intention to solicit offerings from other agents or brokers.

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Pam Blasingame - Jackson TN Realtor® - Coldwell Banker Real Estate Now