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ken lampton dallas real estate

Before working with a real estate broker,
you should know that the duties of a broker
depend on whom the broker represents.

Texas Real Estate Commission
Information About Brokerage Services


YOU NEED A BUYER AGENT

You need professional advice and opinions from a Buyer Agent who represents you!

The Buyer Agent's chief duty is to help you negotiate to get the house you want for the lowest price and best terms that can be obtained. Sure, he helps you preview houses. He helps you understand the contract forms. He helps you cope with the process of closing a home sale. But the Buyer Agent's most important role is to serve as your advocate.

The Seller is already represented by a Listing Agent. The Listing Agent has a contract with the Seller, promising to act in the best interests of the Seller and to keep secret any information that might weaken the Seller's bargaining position. So, while the Listing Agent may be a very honest and friendly guy or gal, he can't fulfill all the duties of a Buyer Agent, because he has already sworn to "take care of" the other party in the transaction.


MY LEGAL OBLIGATIONS AS YOUR BUYER AGENT

As your Buyer Agent, I have four legal duties:

  • LOYALTY - I am legally obligated to act at all times solely in your best interest, to the exclusion of all other interests including my own self-interest.
  • OBEDIENCE - I am legally obligated to obey promptly and efficiently all your lawful instructions.
  • DISCLOSURE - I am legally obligated to disclose all relevant and material information that I know, and that pertains to the scope of the agency.
  • CONFIDENTIALITY - I am legally obligated to safeguard your confidences and secrets, especially any information that might weaken your bargaining position.

HOW MUCH DOES IT COST TO HIRE KEN AS YOUR BUYER AGENT?

  • You do not have to pay anything extra to get the benefit of my advice and assistance when I act as your Buyer Agent.
  • In most instances, my broker fee comes out of the fee paid by the seller to his Listing Agent.
  • This does not obligate me to "look out for" the seller's best interests.
  • Rather, it is my duty to help you negotiate to get the house you want for the lowest price and best terms that can be obtained.

When You Visit An Open House

  • When you meet the listing agent at an open house (or when you talk to him on the phone), remember he is representing the seller!
  • You can have a friendly conversation, but do not disclose any information you would not want the listing agent to pass on to his seller.
  • Keep in mind that the listing agent already has well-defined legal obligations to his client (the seller), and he has no agency relationship with you.
  • If you tell the listing agent a "secret" he is obligated to pass that information on to his client, the seller.

Ken's Market Area

While this website focuses on the M Streets, Ken's market area extends all the way from North Oak Cliff in the south to Plano in the north. View a Map of Ken's Market Area.

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The ideas and opinions expressed here are Ken Lampton's ideas, and are not necessarily those of his Broker or of RE/MAX International, Inc. The information on this website should not be construed as a recommendation for any course of action regarding financial or legal matters.

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