(This document is not a contract.)
This disclosure must be given to a consumer at the first reasonable opportunity and before discussing confidential information; entering into a brokerage service agreement; or showing a property.
Right Now You Are Not A Client
The real estate agent you have contacted is not obligated to keep information you share confidential. 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 who is not a client. All real estate agents shall:
- Disclose all material facts known to the agent about a property;
- Treat both the buyer and seller honestly and not knowingly give false or misleading information;
- Account for all money and property received from or on behalf of the buyer or
- Comply with all state and federal laws related to the practice of real estate.
You May Become A Client
You may become a client by entering into a written brokerage service agreement with a real estate brokerage firm. Clients receive the full services of an agent, including:
- Confidentiality, including bargaining information;
- Promotion of client’s best interests 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.
If you engage a brokerage firm, you are responsible for compensating the firm according to the terms of your brokerage service agreement.
Before you hire a brokerage firm, ask for an explanation of the firm’s compensation and conflict of interest policies.
Brokerage Firms May Offer
Non-Designated Agency or Designated Agency
- Non-designated agency brokerage firms owe a duty of loyalty to a client, which is shared by all agents of the firm. No member of the firm may represent a buyer or seller whose interests conflict with yours.
- Designated agency brokerage firms appoint a particular agent(s) who owe a duty of loyalty to a client. Your designated agent(s) must keep your confidences and act always according
to your interests and lawful instructions; however, other agents of the firm may represent a buyer or seller whose interests conflict with yours.