Page 10 - 2023 Vol 13 Issue 15 Zone 3 State Farm Bridgeton
P. 10

Real Estate
               Expert Contributor

                                           Do you understand agency?

                                          Do you know what duties you owe

                                          and what duties are owed to you?

                 Maureen Fusco
               Realtor, Broker-Associate                            Both sellers' and buyers' agents have fiduciary duties which include
               SRS, ABR, SFR, E-PRO at                              reasonable care, undivided loyalty, confidentiality and full disclosure
          Keller Williams Hometown                                  to their client only. Anything you tell them will be told to their client.

                                                                    A disclosed dual agent works for both the buyer and the seller.
        In New Jersey, real estate licensees are required to disclose how they    To work as a dual agent, a firm must first obtain the informed written
        intend to work with buyers and sellers in a real estate transaction   consent of the buyer and the seller. A brokerage firm acting as a
        prior to discussing financial or confidential information.  disclosed dual agent cannot put one party's interest ahead of the
                                                                    others or advise them on how to gain an advantage at the expense of
        Please make sure that before you discuss confidential information
        with a real estate licensee, you understand what type of business   the other party.
        relationship you have with them first.                      The New Jersey Real Estate Licensing Law does not require licensees
        There are 4 types of agency: Seller’s Agent, Buyer’s Agent, Disclosed   to work in the capacity of an "agent" when providing brokerage
        Dual Agent, & Transaction Broker.  Each of these relationships   services. A transaction broker works with a buyer, a seller, or both in
        impose certain legal duties and responsibilities on the licensee, as   the sales transaction without representing anyone. A transaction
        well as on the seller or buyer represented.                 broker does not promote the interest of one party over those of the
                                                                    other party to the transaction.
         A seller's agent works only for the seller.
                                                                    Real estate licensees owe all parties honesty!
        A buyer's agent works only for the buyer.
                                                                    Please reach out to me to discuss further in more detail.

                                                       Your Full Service Realtor.

                                                                                            MAUREEN FUSCO

                                                                                          Realtor Broker Manager
                                                                                         RENE, SRS, ABR, SFR, E-PRO
                                                                                       NJ REALTOR MANAGING BROKER
                                                                                            AND PA SALESPERSON
                                                                                        Office: (856) 241-4343
                                                                                        Mobile: (856) 716-0746

                                                                                               5 Myers Drive
                                                                                             Mullica Hill, 08062
                                                                                 Each office is independently owned and operated
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