Peter C. Fyler Owner/Broker, REALTOR®, EBA CRS®, GRI, ABR®, CBR®, SRES®, RSPS, e-PRO, LMC

For decades, real estate agents in the state of Massachusetts have operated under the premise, "Buyer Beware". The buyer thought, or was led to believe that the real estate agent, or realtor as some people generically refer to an agent, showing them property and with whom they were spending so much time with was their agent and friend. In fact, that agent owed a prescribed loyalty to the seller. Many times, it was only after the transfer of Title that the buyer learned, at a cocktail party or in conversation with their new neighbor, the good real estate investment decision they thought they had made was not that good after all, E.G., they could have paid less!

Massachusetts, among many other states, has taken steps to clarify the Law of Agency by requiring all licensed real estate agents to present a Mandatory Agency Disclosure Form to a prospective buyer at the first formal discussion of a particular property. I do not believe many buyers or agents fully understand the gravity of the obligation that this implies, especially because it is not a contract. Despite the changes in the Law of Agency, I still think the buyer must beware. I think the consumer remains guardedly pessimistic and assumes that the real estate agent's roll is that of a facilitator; the agent just wants to get the deal done and move on, even though the terms of the deal may not be in the best interest of the person they are representing. Did you know when you contact a real estate company inquiring about one of their listed properties, the Broker represents the Seller, not you?

Clearly, not all real estate agents are the same. A buyer should interview the agent(s) they are considering, just as the agent will interview the buyer to see if they are compatible. A buyer should not only consider the agent's experience and commitment to the business, but also the sincerity that the agent conveys. Decide beforehand what services you want, and take your time talking with the agent. Ask for references and see what other people say about the experience they had during their property search.

I do not believe that one can serve two masters. At SplitRock Real Estate, we serve the Martha’s Vineyard real estate buyer 100% --- 100% of the time. We are not conflicted in our responsibility and allegiance to the buyer. The buyers we’ve assisted in the purchase of real estate on Martha’s Vineyard are happy and confident that the decisions they made were empowered through knowledge and were the best decisions for them at the time.

Can You Afford Not To Be Represented?
Please contact me if you would like to be exclusively represented by SplitRock Real Estate. I know the Island, the market and the entire Island wide inventory. I want to be your Exclusive Buyer's Agent on Martha's Vineyard.