Some potential home buyers experience some confusion when first meeting a real estate agent prior to looking at homes. They should be presented with a rather intimidating looking document that they are asked to sign. It looks like a contract!
The good news is there is nothing to worry about. This is a State of Ohio mandatory form that they Realtor is required to present - The Consumer Guide to Agency. It's purpose is to inform and educate the buyer as to the relationship he or she has with the Realtor.
It's the Realtor's job to explain, to the buyer's satisfaction, who the Realtor owes their allegiance in the transaction so that the buyer knows where they stand.
It is NOT a contract, but does require the buyer's signature acknowledging that the Realtor has fully explained their position in the transaction.
Additionally, the Guide also contains information regarding Fair Housing and what the buyers rights and expectations should be.
There are many types of agency relationships that will be disclosed, such as: buyer representation, seller representation, dual agency, and split agency.
Call or text me at 419-779-6229 with any questions. Thanks!
Kelley Knitz has been a RE/MAX agent for over 26 years and is in the RE/MAX Hall of Fame and is a long time member of the Toledo Board of Realtors Million Dollar Club.
1911 Indian Wood Circle
Maumee, OH 43537