Thursday, August 30, 2012

What are you asking me to sign? I just want to see the house.

Most likely the agent is asking you to acknowledge receipt of their Company Policy regarding agency.

If you are a prospective buyer or renter, OH License Law requires that the agent inform you who it is they represent with regard to that particular property and any future properties they my show you. This is done before the property is shown.  The agent is required to give you a copy of the company policy as outlined in their “Consumer Guide to Agency Relationships.”  It details Buyer Agency, Seller Agency, Disclosed Dual Agency and Fair Housing.  Once the agent explains the information contained in the brochure, you will be asked to sign, acknowledging receipt of the Guide. This in no way obligates you to work exclusively with this showing agent or their company when viewing other homes.

The only exception to receiving the Guide beforehand is if you are attending an open house.  In that case, the agent will provide you that information if you show a sincere interest in purchasing the property. However, you should always feel free to ask an Open House agent whom it is they are representing.

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