Vermont Consumer Disclosure
In Vermont, it is required by law, that real estate agents provide written disclosure concerning agency relationships to buyers and sellers. This form explains the different types of agent representation you may have, either as a Client or as a Customer.
Vermont law allows for different types of brokerage services to be provided to Buyers and Sellers by Realtors. You have the right to decide whether you want to be represented in a real estate transaction as a Client of a Realtor or as an unrepresented Customer.
Right Now You Are a Customer
Vermont law requires all Real Estate Brokerage Firms and their agents meet certain basic standards when dealing with a Buyer or Seller. All Realtors you deal with must observe the following practices whether you are a Client or a Customer of the Realtor.
- To disclose all material facts pertaining to the property that are known by the Realtor;
- To treat both the Buyer and Seller fairly and not knowingly distribute inaccurate information about the property;
- To account for all money and property received from or on behalf of the Buyer or Seller; and
- To comply with all state and federal laws related to Real Estate Brokerage activity.
A Real Estate Firm may not act as an agent for both a Seller Client and Buyer Client in the same transaction, except as a limited agent with the informed, written consent of all parties. Coldwell Banker Hickok & Boardman Realty represents both Buyers and Sellers in real estate transactions throughout Northwestern Vermont. They do not represent both as a client in the same transactions, nor practice as a limited agent on behalf of both the Seller and the Buyer. An unrepresented Buyer may, however, deal with the Real Estate Firm representing the Seller as a Customer or obtain his/her own representation.
If the Real Estate Firm is representing the Seller, a Buyer Customer should not offer to disclose information the he/she would not want conveyed to the Seller. If the Real Estate Firm is representing the Buyer, the Seller Customer should not offer or disclousure information the he/she would not want conveyed to the Buyer. Our agent may not act as a Buyer's Agent when the agent is showing the buyer properties listed by Coldwell Banker Hickok & Boardman Realty.
You May Become A Client
If you choose a Realtor to represent you, you will need to enter into a written Listing Agreement as a Seller or a written Buyer Representation Agreement. Once you sign an agreement, you become a Client. As a Client, the Real Estate Firm will provide you with the following services in addition to the basic obligations previously listed:
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To perform the terms of a written listings agreement or buyer representatioin agreement with reasonable skill and care;
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For Seller Clients this means the Real Estate Firm will put the SEller's interest first and negotiate for the best price and terms for the Seller.
For Buyer Clients this means the Real Estate Firm will put the Buyer's interests first and negotiate for the best price and terms for the Buyer.
To maintain the confidentiality of client information, including bargaining information.
To promote you best interests:
There is no requirement that you must be represented by a Realtor in the sale or purchase of property.
This Consumer Disclosure must be signed prior to the Realtor showing a property or listings a property.