Forget what you have heard in "broker liability classes"...you know the classes where thy tell you to never recommend a home inspector to the home buyer, to not give a buyer advice, and not to attend home inspections or walk throughs...in fact they say that you should stay arms length so that you don't get sued...and yes, buyers are the majority of lawsuits.
The reality is that Home Buyer Representation is Liability. Representing a buyer does not mean you try to lesson your involvement. As a buyers agent, you are already on the hook to put the buyers best interests above your own. Your fiduciary duties are just as strong as the duties of an attorney representing a client...giving advice and advocating for the home buyer is just the beginning.
Buyer Representation means that you stretch out of your comfort zone...you don't try to keep the seller happy, or worry about what the listing agent thinks. Staying popular is not on the list of buyer agent duties. Your only job is to get the most favorable terms for your buyer client and protect them...after all, you are supposed to be the home buying expert.
You waive the red flag to the home buyer when needed, and do investigative work when necessary...even if it means that the home buyer will not want to buy the property and you loose a commission.
Yes, Liability. Buyer Representation is Liability. Big time liability.
A good share from Active Rain.
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