Why is Full Disclosure Critical for Buyers?

The SHORT ANSWER IS... If a Buyer does NOT have all the facts then the ability to make an informed purchase decision is lost.

Diclosure needs to start with how a Buyer will be working with the real estate licensee. The type of representation the Buyer receives will effect what information they can/will get from the licensee.

For example: Transaction Brokers are required to treat both Buyer and Seller fairly (a judgement call on the part of the licensee). Transaction Brokers can NOT provide either party information that could be detrimental to the other party - so if the Transaction Broker knows the Seller will take a lower offer s/he can NOT let the Buyer know this.

Single Agents, Exclusive Buyer Agents, Buyer Brokers have the legal responsibility to provide the Buyer FULL disclosure.

Buyers need full disclosure to make informed decisions.