Understanding the Role of Real Estate Agents in Property Transactions

Navigating the property market can be overwhelming, and real estate agents play a crucial role in connecting buyers with sellers. However, understanding their responsibilities and potential conflicts of interest is essential for making informed decisions. At Rothschild Group, we provide expert legal guidance to ensure buyers are fully protected during the transaction process.

Who Do Real Estate Agents Represent?

1. Agents Work for the Seller

• Real estate agents are hired and paid by the seller, meaning their primary objective is to secure the highest sale price.
• While agents facilitate property transactions, they do not act as legal representatives for buyers.

2. Legal and Ethical Standards

• Most agents operate under the Real Estate and Business Agents Act and adhere to the REBA Act Code of Conduct.
• These regulations ensure agents act with fairness, honesty, and transparency.
• Agents must disclose all offers and any conflicts of interest, such as relationships with developers or third parties.

What Buyers Should Do Before Signing a Contract

1. Conduct Independent Research

• Buyers should not rely solely on information provided by the agent.
• Conduct thorough property inspections, check local zoning laws, and verify any potential hidden costs or restrictions.

2. Review Contracts with a Legal Professional

• Real estate contracts can include complex terms and conditions that may not favor the buyer.
• Consulting a property lawyer before signing can prevent potential disputes and ensure a legally sound transaction.

Why Choose Rothschild Group for Property Transactions?

• Expert legal review of contracts and agreements.
• Comprehensive due diligence to uncover potential risks.
• Negotiation support to protect buyers’ interests.

Buying a property? Contact Rothschild Group today for professional legal advice to ensure a smooth transaction.