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 In the history of the real estate industry, there has been a single approach to working with a real estate agent. If you wanted to purchase a home, an agent showed you properties on behalf of the sellers of those homes. As a buyer, you were not represented by anyone other than yourself. Negotiation over price and terms were entirely your responsibility.
Now there is another way to handle buying property. With buyer agency, your real estate sales associate acts on your behalf in all negotiations. That agent is committed to being your advocate in finding and purchasing your next home, and at no cost to you.
In many cities across the United States, buyer agency is used in the majority of home purchases. With buyer agency, all fiduciary duties are owed to the buyer, not to the seller. The buyer has the freedom to discuss personal finances, negotiating strategies and the value of properties with their buyer agent. The buyer can ask for the opinion of the buyer agent regarding the condition of the property, the effect of improvements, the seller's motivation for selling and a variety of other information thar the seller's agent cannot provide.
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| Q |
What real estate board game became the best-selling game in America just one year after it was created?
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| A |
Charles B. Darrow invented Monopoly in 1934, to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over 200 million copies. |
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