Vermont Real Estate Commission Mandatory Consumer Disclosure
(This is not a Contract)
This mandatory disclosure shall be given to the consumer at the first reasonable opportunity, and must be given to the consumer before discussion of confidential information; entering into a service agreement; or showing a property.
Right Now You Are A Customer
As a customer, the real estate agent with whom you are working is not obligated to keep confidential the information that you might share with him or her. As a customer, you should not reveal any confidential information that could harm your bargaining position.
Vermont law requires all agents to perform basic duties when dealing with a buyer or seller. You can expect the agent with whom you deal to provide the following services whether you are a Customer or a Client:
- To disclose all material facts pertaining to the property known to the agent.
- To treat both the buyer and seller honestly and not knowingly give false or misleading information.
- To account for all money and property received from or on behalf of the buyer or
- To comply with all state and federal laws related to the practice of real estate.
You May Become A Client
Whether you are selling or buying, clients receive more services than customers. You become a client by entering into a written contract with a real estate brokerage firm. All agents in the firm work for you. In addition to the services noted above, as a client you can expect the following services:
- Confidentiality, including bargaining information
- Promotion of your best interest within the limits of the law
- Advice and counsel
- Assistance in negotiations
- You are not required to hire a brokerage firm for the purchase or sale of Vermont real estate. You may represent yourself.
- Before you hire a brokerage firm, ask for an explanation of the firm’s conflict of interest policies.
For more information contact Chris Helmstetter.