LBI Real Estate Agency Disclosure
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Agency Disclosure in the Long Beach Island Real Estate Market 
Agency Disclosure in the Long Beach Island Real Estate Market 
Agency Disclosure in the Long Beach Island Real Estate Market
Long Beach Island Real Estate Agency Disclosure
Agency Disclosure in the Long Beach Island Real Estate Market refers to who the LBI real estate agent is working for. In the State of New Jersey, there are several different types of real estate agency representation, and understanding the differences between them is critical to a successful LBI real estate transaction. The most common types of agency relationships are:
- Buyer’s Agent
- Seller’s Agent
- Dual Disclosed Agent
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Agency Disclosure in the Long Beach Island Real Estate Market
One of the initial steps an LBI real estate agent should take is the disclosure of who they are working for. To understand what this means, we first need a little background context. A buyer’s agent, as the name would imply, is working for the buyer in an LBI real estate transaction. The agent should be working with the best interest of the buyer in mind and trying to get him or her the best deal possible. Likewise, a seller’s agent should be working for the best interest of the seller. A dual disclosed agency representation is triggered when the same brokerage represents both the buyer and the seller. Note I said the same brokerage, not the same agent. A disclosed dual agency applies when the same real estate company represents the buyer and seller in a transaction, regardless of an individual agent. This is because all clients technically are working with the brokerage and not an individual agent. A buyer and seller should sign a disclosed dual agency form that outlines this and the type of representation should always be disclosed.
LBI Real Estate Agency Disclosure
To be clear, there is nothing wrong with a dual disclosed agency, it is perfectly legal in the State of New Jersey. Buyers and sellers in the LBI real estate market should be made aware of the type of representation so they understand their rights and limitations. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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