Customer or Client

A Virginia realtor is required by law to treat you like either (A) a customer, or (B) a client.  In Virginia, buyers and sellers are required to sign a document saying that they actually want to be a realtor’s client before we can assist with any transaction.  See below to learn how buyers are required to be treated if they are a Customer or a Client in Virginia…… 

NEEDS ASSESSMENT
IF THE BUYER IS A CLIENT		IF THE BUYER IS A CUSTOMER
-Pay full attention to the buyer’s needs -Tell the buyer all that you learn about sellers -Keep information about the buyer confidential -Focus on expanding the range of choices to satisfy the buyer’s needs		-Maintain loyalty to the seller’s needs -Tell seller all that you learn about buyers -Keep information about the seller confidential -Focus on the seller-client’s property
PROPERTY SELECTION
IF THE BUYER IS A CLIENT		IF THE BUYER IS A CUSTOMER
-Find the best property for the buyer client -Promote the buyer’s property search -First opportunity to view new listings -All properties are available and viewable; the sale price is negotiable		-Get the best offer for the seller client -Limit properties to listed properties only -View new listings after buyer clients -Show only properties listed within buyer’s affordability range
VIEWING PROPERTIES
IF THE BUYER IS A CLIENT		IF THE BUYER IS A CUSTOMER
-Okay to give advice with facts -Educate the buyer -Okay to compare competing properties		-Tell just the material facts -Protect the seller -Cannot help the buyer compare competing properties
NEGOTIATING A PURCHASE AND SALES AGREEMENT
IF THE BUYER IS A CLIENT		IF THE BUYER IS A CUSTOMER
-Give advice with facts -Negotiate on behalf of buyer client -Strengthen the buyer client’s negotiating position -Share all information about the seller -Provide price counseling -Negotiate approved purchase agreement to safeguard buyer clients -Suggest financing alternatives that may be in buyer client’s best interests -Continue services to buyer client during negotiations		-Disclose only material facts -Negotiation on behalf of seller client -Strengthen the seller client’s negotiating position -Share all information about buyer -Volunteer a CMA for the buyer only if it supports the seller client’s listing price -Suggest buyer financing alternative that benefits the seller’s interests -Continue services to seller client during negotiations
FOLLOW THROUGH AFTER THE PURCHASE AGREEMENT
IF THE BUYER IS A CLIENT		IF THE BUYER IS A CUSTOMER
-Attempt to solve problems to the buyer client’s advantage and satisfaction		-Attempt to solve problems to the seller client’s advantage and satisfaction

 
You can see that your realtor is required … step by step … to ADVOCATE AND REPRESENT THE INTERESTS of a stated party during a purchase. It is my policy to work with only one party (either buyer or seller, but not both) during a transaction so that our roles are clearly defined and so that my client knows that I’m looking out strictly for his/her own interests. I’m always eager to discuss this more with you anytime.

source: REBAC, Today’s Buyer Rep

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