This document discusses different types of agency relationships in real estate transactions. It explains that a real estate agent can represent the seller as a seller's agent, represent the buyer as a buyer's agent through a written buyer agency agreement, or act as a dual agent representing both parties under a dual agency consent agreement. The document outlines the duties and obligations agents owe to their clients or customers under each type of agency relationship.

1. WELCOMEWELCOME
toto
The Candy Connection First timeThe Candy Connection First time
homebuyers workshophomebuyers workshop
Information provided & presentedInformation provided & presented
byby
Arletha (Candy) Myers, RealtorArletha (Candy) Myers, Realtor
®®

2. Long and Foster Real Estate, Inc.
Bel Air
Arletha (Candy) Myers, Realtor®Arletha (Candy) Myers, Realtor®
Long and Foster Real EstateLong and Foster Real Estate
3004 Emmorton Road3004 Emmorton Road
Abingdon, MD 21009Abingdon, MD 21009
410 879-8080 (O)410 879-8080 (O)
443 421-1903 (C)443 421-1903 (C)

3. The broker accepts no expressed or implied liabilityThe broker accepts no expressed or implied liability
due to the contents of this report. Although the factsdue to the contents of this report. Although the facts
have been obtained from sources deemed reliablehave been obtained from sources deemed reliable
and are believed to be correct, no liability is assumedand are believed to be correct, no liability is assumed
by it author. Any unauthorized use of this reportby it author. Any unauthorized use of this report
without prior written approval is strictly prohibited.without prior written approval is strictly prohibited.

4. Homebuyer Decides to BuyHomebuyer Decides to Buy
 That’s it! I’m tired ofThat’s it! I’m tired of
wasting money inwasting money in
rent. I’m tired ofrent. I’m tired of
paying some else’spaying some else’s
Mortgage for them. IMortgage for them. I
think I’ll try and buythink I’ll try and buy
my first home.my first home.

5. BUYER SELECTS SELLINGBUYER SELECTS SELLING
ASSOCIATE/BROKERASSOCIATE/BROKER
RE/MAX
Long & Foster Real Estate, Inc.
Coldwell Banker Residential Brokerage
ERA
Century 21
Advance Realty
Keller Williams
Pen Fed Realty
ETC

6. UNDERSTANDINGUNDERSTANDING
WHO THE REALWHO THE REAL
ESTATE AGENTESTATE AGENT
REPRESENTSREPRESENTS

7. Maryland State Law hasMaryland State Law has
CHANGEDCHANGED

8. Everyone involved in a real estate transaction should
understand the unique role of real estate agents. This
role has been defined over the years by law and by custom. In the
past, real estate agents generally worked for sellers, assisting them
in finding qualified buyers for their property. Thus, buyers were
typically considered customers and the real estate agent’s
obligations remained solely with the seller. As the industry
changed, more and more homebuyers wanted to have an agent
working for them, so exclusive buyer representation became the
norm. In October 2016, Maryland law concerning agency
relationships changed. Whether you are considering
buying a home or selling a home, it is important that you
understand the role of real estate agents and the types of
agency relationships that exist.

9. As soon as you begin discussions with a real estate agent,
you should understand what type of agency relationship or
representation exists between you and the agent.
There are four kinds of agency relationships:
Seller Agency
Buyer Agency
Dual Agency and
Intra-Company Agency

10. The difference between a Client and a Customer further defines
the nature of agency relationships. A Client is a buyer or seller
who has entered into a written agency agreement and is
represented by an agent. The agent provides advice and also owes
the Client duties of reasonable care: loyalty, disclosure,
confidentiality, diligence and accounting.
A Customer is a buyer or seller who has not entered into a written
agency agreement and is not represented by an agent. A customer
is entitled to honest treatment, including disclosure of material
adverse facts known to the agent.

11.  AgencyAgency DisclosureDisclosure law requires real estate agents to provide writtenlaw requires real estate agents to provide written
disclosures to unrepresented parties, explaining who the agent isdisclosures to unrepresented parties, explaining who the agent is
representing and what the agent’s responsibilities are. These writtenrepresenting and what the agent’s responsibilities are. These written
disclosures are prepared by the Maryland Real Estate Commission.disclosures are prepared by the Maryland Real Estate Commission.
If you are an unrepresented buyer or seller, the agent representingIf you are an unrepresented buyer or seller, the agent representing
the other party will ask you to sign the disclosure form. The purposethe other party will ask you to sign the disclosure form. The purpose
of this form (called the “Understanding Whom Real Estate Agentsof this form (called the “Understanding Whom Real Estate Agents
Represent” form) is simply to inform you who the real estate agentRepresent” form) is simply to inform you who the real estate agent
represents. This formrepresents. This form is notis not a contract and does not establish ana contract and does not establish an
agency relationship between you and the agent.agency relationship between you and the agent. You will be askedYou will be asked
to sign the form simply to acknowledge that the agent provided theto sign the form simply to acknowledge that the agent provided the
written disclosure as required by Maryland law.written disclosure as required by Maryland law.

12.  Just as a written Listing Agreement is required to represent the seller,Just as a written Listing Agreement is required to represent the seller,
a written Buyer Representation Agreement is required to represent a buyer,a written Buyer Representation Agreement is required to represent a buyer,
referred to asreferred to as Buyer AgencyBuyer Agency..
The buyer agent owes the buyer the dutiesThe buyer agent owes the buyer the duties of reasonable careof reasonable care :: loyaltyloyalty,,
disclosuredisclosure,, confidentialityconfidentiality,, diligencediligence andand accountingaccounting..
Additionally, the buyer agent should disclose any material facts orAdditionally, the buyer agent should disclose any material facts or
information about the property which are reasonably known to the buyer agent.information about the property which are reasonably known to the buyer agent.
Buyers Agents Are Obligated to Reveal to BuyersBuyers Agents Are Obligated to Reveal to Buyers **::
Any known willingness of the seller to accept a lower price.Any known willingness of the seller to accept a lower price.
Facts relating to the urgency of the seller’s need to dispose of the property.Facts relating to the urgency of the seller’s need to dispose of the property.
The agent’s relationships to the seller or interest in the property for sale.The agent’s relationships to the seller or interest in the property for sale.
Facts affecting the value of the property.Facts affecting the value of the property.
The length of time the property has been on the market and allThe length of time the property has been on the market and all
other offers or counteroffers.other offers or counteroffers.
Information that would affect the buyer’s ability to obtain theInformation that would affect the buyer’s ability to obtain the
property at the lowest price and on the most favorable terms.property at the lowest price and on the most favorable terms.
Buyer AgencyBuyer Agency

13. Seller AgencySeller Agency
Seller AgencySeller Agency is the “traditional” agencyis the “traditional” agency
relationship. Simply put,relationship. Simply put,
the listing agent represents the sellerthe listing agent represents the seller
pursuant to a written Listingpursuant to a written Listing
Agreement and owes the dutiesAgreement and owes the duties ofof
reasonable carereasonable care:: loyaltyloyalty,, confidentialityconfidentiality,,
diligence, fiduciarydiligence, fiduciary andand accountingaccounting..

14. Sub AgencySub Agency
Subagency is another type of seller agency. In the
Listing Agreement, the seller may authorize the listing
company to extend the agency relationship outside
itself and its agents. This relationship, called
subagency, allows real estate agents from other
companies to show the home to buyer customers,
meaning, buyers who have not entered into a written
buyer agency agreement. In this situation, the listing
agent and subagent both represent the seller, while
the buyer remains unrepresented.

15. Dual AgencyDual Agency
 When a buyer client of a real estate company becomes interested inWhen a buyer client of a real estate company becomes interested in
property listed by that company, the real estate company, or broker,property listed by that company, the real estate company, or broker,
becomes a dual agent (Dual Agency). This means that the companybecomes a dual agent (Dual Agency). This means that the company
has a legal obligation to represent both parties and a duty tohas a legal obligation to represent both parties and a duty to
maintain the confidentiality of information obtained from each party.maintain the confidentiality of information obtained from each party.

16. Intra-Company AgencyIntra-Company Agency
 When both seller and buyer agree to Dual Agency by signing aWhen both seller and buyer agree to Dual Agency by signing a
Consent for Dual Agency form, the real estate company (“dualConsent for Dual Agency form, the real estate company (“dual
agent”) will assign one agent to represent the seller (the seller’sagent”) will assign one agent to represent the seller (the seller’s
““intra-company agent”), and another agent to represent the buyerintra-company agent”), and another agent to represent the buyer
(the buyer’s “intra-company agent”).(the buyer’s “intra-company agent”).
Intra-Company AgentsIntra-Company Agents are required to provide the same servicesare required to provide the same services
to their clients that agents provide in transactions not involving dualto their clients that agents provide in transactions not involving dual
agency, including advising their clients as to price and negotiationagency, including advising their clients as to price and negotiation
strategy.strategy.

17. Seller Agents, as With All Agents, Are Obligated by a
Code of Ethics:
• To respond honestly to questions about the property
from the buyer.
• To disclose material adverse facts about the property
to the buyer.
• To present all buyer offers to the seller promptly.

18. How Seller Agency Affects the Buyer.
The seller’s agent can be helpful to the buyer in a variety of ways.
The seller’s agent can show the buyer available properties,
describe the attributes and amenities of properties, provide
information about sources of financing, and submit the buyer’s
offer to purchase. These are called “ministerial acts”. They do not
bring about an agency relationship between the buyer and sales
agent.

19. There are many steps to theThere are many steps to the
homebuying processhomebuying process
Understand your options

20. Buyer determines buyingBuyer determines buying
needs and purchasing powerneeds and purchasing power
Buyer sits with aBuyer sits with a
Lender toLender to
determine whatdetermine what
they can afford tothey can afford to
spend on their newspend on their new
home.home.

21. Buyers review availableBuyers review available
properties for sale with theirproperties for sale with their
agentagent

22. BUYER MAKES AN OFFERBUYER MAKES AN OFFER
TO PURCHASETO PURCHASE
• Accept itAccept it
Reject itReject it
Make a counter offerMake a counter offer

23. OFFER ACCEPTEDOFFER ACCEPTED

24. Buyer & Sales AssociateBuyer & Sales Associate
arrange for Inspectionsarrange for Inspections
Termite
Radon
Home Inspection
Well
Septic
Lead Base Paint

25. SETTLEMENTSETTLEMENT

26. CONGRATULATIONS!CONGRATULATIONS!
 Best Wishes for much success in yourBest Wishes for much success in your
quest for Homeownership.quest for Homeownership.
 Call me if you have any questions.Call me if you have any questions.
 If you have already hired a Realtor®If you have already hired a Realtor®
please do not contact me.please do not contact me.
 If you need to hire a Realtor® pleaseIf you need to hire a Realtor® please
contact me for an interviewcontact me for an interview

27. AccreditationsAccreditations

28. Arletha (Candy) Myers, Realtor®Arletha (Candy) Myers, Realtor®
Long and Foster Real Estate, Inc.Long and Foster Real Estate, Inc.
3004 Emmorton Road3004 Emmorton Road
Abingdon, MD 21009Abingdon, MD 21009
410-879-8080 (O)410-879-8080 (O)
443 421-1903 (C)443 421-1903 (C)
Email: thecandyconnection@gmail.comEmail: thecandyconnection@gmail.com
Broker/Manager Direct # 410-879-8080Broker/Manager Direct # 410-879-8080
Manager: Mike ScarboroughManager: Mike Scarborough

29. Arletha (Candy) MyersArletha (Candy) Myers
Connecting Buyers & Sellers by opening oneConnecting Buyers & Sellers by opening one
DOOR at a TIMEDOOR at a TIME
Visit my webpage to tour every home for saleVisit my webpage to tour every home for sale
And coming soonAnd coming soon
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www.linkedin.com/#in/thecandyconnectionwww.linkedin.com/#in/thecandyconnection
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