Understanding the fundamentals of Worcester County Ma. Real Estate is imperative.
It is very important that you as a buyer get proper representation when you are purchasing Real Estate in Worcester County. If you go to an open house for example the person you are meeting with is most likely an agent of the seller which means that they work for the seller and not you. When you meet with a real estate agent and they show you properties that are not their listings they also work as sub-agents of the seller and not you. In all cases, unless a disclosure is given and signed by you, your agent is not representing you but the seller.
By law Massachusetts Real Estate Agencies are working as agents of the seller and are not representing you, the buyer. Even your broker who does not own the listing is working on behalf of the seller and not you as a buyer. Your broker is a sub-agent of the seller if you have not been provided with an agency disclosure form. So before you look at any home or condo for sale in Worcester County be sure you are getting proper representation and your agent discloses that they are working in Single Agency and representing only you.
While managing Real Estate portfolio’s we have seen many buyers end up with very poor and underperforming properties because they were under the assumption that they were being represented by the real estate agent when, in fact, that agent was representing the seller. It is easy for a buyer to confuse this when an agent is showing them properties. While most Massachusetts Real Estate agents are honest and ethical an agent of the seller is working hard to sell that property for the seller. They would be remiss to discourage you from buying the property if their gut instincts told them it was a poor buy because they work for the seller, and do not have your best interest at heart. At S & R Properties we offer a disclosure letting you know just who we represent. At no time will we be representing you as a buyer and also work as an agent of the seller at the same time. Real Estate in Worcester County continues to be very dynamic because of the diversity of the property in the area; so enjoy your search but be astute.