Agency Disclosure

A real estate broker or salesperson must (under NH law) tell you who he or she represents in a prospective transaction. This disclosure of the relationship the agent has with you must be discussed and put in writing at the time of your first personal meeting to discuss a specific piece of property.

Seller's Agent

If you engage the services of a listing broker to sell your property, you become the broker’s client. That broker represents you, the seller, and owes you undivided loyalty, confidentiality and accountability. In negotiating for the best price and terms, he must put your interests first.

Buyer’s Agent (Legal Definition)

You may engage the services of a broker to represent you exclusively as a buyer of real property. In this case, the broker represents you and is accountable to you. She must obey your instructions and keep confidential anything you tell her that may affect your purchase of real property. In negotiating for the best price and terms, she must put your interests first. If you are seeking to purchase real property and are working with a broker that is not under contract as a Buyers Agent, that broker is responsible to the seller.

Disclosed Dual Agent

A broker can work for both the buyer and the seller on the same property provided the broker gets the consent of both parties in writing and provides each with a written notice of the relationship. In this case, the broker owes both the seller and buyer a duty to deal with them fairly and honestly. In this type of agency relationship, the broker does not represent either the seller or buyer exclusively, and neither party can expect the broker’s undivided loyalty. Undisclosed dual agency by a broker is illegal.

You should have a clear understanding of agency under New Hampshire law. You should understand the real estate broker's/agent's duties to each party. If you need to learn more, contact me: Paul Hamblett, Direct line & Voice mail: (603) 501-3813.