If you are buying a home in Washington State, you might have received a pamphlet from your realtor titled "The Law Of Real Estate Agency". You might be wondering what this pamphlet is and why you are receiving it.Today we are going to try to explain this pamphlet in a little more detail and help you understand it. It is Washington State law that anyone dealing with a real estate agent, whether it be buying or selling, receive a copy of The Law Of Real Estate Pamphlet. This pamphlet must be presented to the customer before they start doing business with the agent.
The purpose of this pamphlet is to clearly define the duties and responsibilities that real estate agents have by law to their customers. The pamphlet is supposed to help clients know exactly what their real estate agent is supposed to be doing for them, and to inform clients of their legal rights. It is a very good place to start on your real estate journey.
The first part of the pamphlet will explain the definitions of some common terms that are used in day to day real estate transactions. You should familiarize yourself with these terms, since they will be used often during your home buying or selling experience. The next part of the pamphlet describes the realtor's relationship with the public and the duties of a realtor in general. They have separate sections regarding the duties of a buyer's agent and the duties of a seller's agent. There are also details about the duration of a relationship between buyer and seller, and also a special section on commission. The pamphlet goes on to explain about interpretation and liability and also has a small section about short sales.
After receiving the pamphlet, read through it thoroughly and be sure to ask any questions that you might have. By choosing a trusted agent like Hamid Ali, you know that you are choosing to have someone in your corner and help you out in any way necessary.
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