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Real Estate Agents Leverage Legal Forms to Limit Their Client’s Liability

Typically, before a real estate professional officially works with a buyer or seller, certain legal forms must be provided to the parties involved, stating the agency relationship. As all things in real estate, legal forms were created to give disclosure of agency role, to both buyer and seller, and the duties of the real estate agency towards the seller and buyer.

The Full-Service Real Estate Agent

Real estate customers are forever searching for new and better ways to save money and minimize expenses. As such, paying real estate commissions for agents that could amount to tens of thousands of dollars is not considered a cost-effective option for these savings-minded people (especially considering the state of the economy as of late).

The Legal Duties of a Real Estate Agent

In order to fully comprehend the real estate agent’s range of legal duties and tasks-that is, what a broker can and cannot do for the home seller or buyer-you need to first look at the federal and state regulations they need to follow when undergoing any sort of real estate transaction. To be more specific, agents usually need be aware of the following institutions and rules that govern or influence all of their actions: Lawsuits, Employing Broker’s Guidelines, National Association of Realtor’s Code of Ethics, State Real Estate Laws, and the Federal Fair Housing Act.

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