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Who’s Representing You?

We are fortunate, here in Maine, that the structure of our laws is such to provide a truly pro-consumer atmosphere. In many instances, the State of Maine has been a leader in passing legislation that governs its professional licensees that goes well beyond a personal pledge of honesty and integrity.

When you are considering the purchase of real estate, it is important to understand whom the broker is representing. At your first substantive conversation with a licensed Maine real estate professional, the law requires the agent to present you with "Form 3", Agency Disclosure.  After you have an opportunity to read this document, the various relationships you may have with a licensed professional should be clear.

Most buyers assume that brokers always represent the sellers, at least at first. Then, as a close personal relationship develops, many buyers (mistakenly) assume that the broker is watching out for their best interest. This is not the case. Hiring a licensed professional to represent your interests is a frequently misunderstood concept.  "Hiring" your professional can only be documented by entering into a Buyer Broker Agreement.  How the agent receives compensation for representing you is clearly stipulated in this Agreement.  Most often, though not always, your agent receives their compensation out of the listing agent’s fee that is paid by the Seller.  Your agent should be someone who knows the community and can provide you with good advice on pricing, financing, and preparation of a purchase & sale agreement that is sensitive to all of your concerns.  There is no teacher like experience, and the agents at ORP have the extensive experience and training to provide you excellent service.

At ORP, we do not practice "Dual Agency".  In this disclosed relationship, an agent works for both the buyer and the seller. We feel this doesn’t benefit anyone. Should you be interested in a property listed by an ORP agent, and wish to have another ORP agent represent you, this can be done. We take great care to keep activities confidential so you may feel comfortable with the representation you desire. We are always pleased to provide references from satisfied sellers and buyers.  At Ogunquit River Properties, we have been providing Buyer Brokerage long before it was officially recognized at the State level.

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