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DFW Real Estate – Having A Licensed Agent On Your Side

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While you may not be aware of it, if you’re buying or selling a home in Flower Mound or another city in North Texas there are benefits to using a licensed real estate agent. These benefits/obligations, known as “fiduciary duties,” are important when you’re buying or selling a home. Why? It’s something known as OLDCAR – obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care.

Let’s start with obedience. When you provide instruction regarding financial implications to a real estate agent, your agent is required to follow that instruction as long as a contractual agreement isn’t contradicted, and it’s legal – no matter if your agent agrees or not.

Next comes loyalty. Whether you are buying or selling a home in the Dallas area, your agent is obliged to put your interests first and foremost. This includes the interests of your agent.

Disclosure. Any information or “fact” that’s material to the sale must be shared with you by your agent. While real estate agents are not required to research or learn about facts that are material to the sale, your agent should be motivated to disclose any facts you, as a buyer, should be aware of.

Protecting your confidentiality. Unless your agent has your permission, no information can be shared with any persons or party to a buy/sell deal. Professional real estate agents are dedicated to protecting your confidentiality.

Accounting. Any exchange of money or funds in play in purchasing or selling a home are the responsibility of your agent.

Reasonable care in handling your affairs. While this topic is a bit less clear than the others, your agent is required to use what is considered “reasonable” care and diligence when handling your dealings or “affairs.” However, it’s important to note that what precisely reasonable care means regarding a specific transaction may be left up to a court judge.

Be aware that, if you’re a potential buyer, the seller’s agent is not your agent but instead is obligated to the seller. Legal obligations do not apply to you when the agent represents the seller.

Additionally, as a buyer your agent and the seller’s agent have different agendas. While your agent has a duty to keep your information confidential, the seller’s agent also has a duty to his/her client – to uncover all information possible (especially negative) about you as a buyer.

At Team Nelson, our DFW real estate agents work for buyers and sellers, and we’re highly dedicated to our clients in terms of confidentiality and handling all of the transaction details in a manner that’s professional. Call us today for the best possible experience when buying or selling a home.

What People Are Saying

  • We just purchased our first home with the help of Team Nelson and I can't say enough good things about them! When we wanted to take a few months to look and understand the market, they were happy to go at our slower pace, and when we needed to move quickly to secure the contract they were right on it.The best part about Bill Nelson's group is that they work so well as a team: Bill gave us great advice about shopping the market for a fixer upper; Casey steered us towards houses and areas of DFW that would handle the level of investment we wanted to make; and Kelly was fantastic at handling the back-and-forth with the seller and ensuring the lender got everything to the table on closing day.

    Claire M. Tranter Yost Avatar
    Claire M. Tranter Yost

    Bill and his team are great to work with, both in helping us first find a rental property when we moved to town and as we began looking at purchasing a home!

    Matt Forslund Avatar
    Matt Forslund

    Bill and his team were great from day 1. They were extremely knowledgeable and very professional. Great experience and best of all he saved us over $22,000!!

    kprichard9 Avatar
  • What a Great Team!! Would use them again THANKS TEAM NELSONπŸ˜‰

    Todd Mcgee Avatar
    Todd Mcgee

    Bill and his team are the utmost professionals! In all my years of dealing with real estate transactions, Bill and his team, by far, were the very best! I can never thank Team Nelson enough for all there help and guidance!

    Michael DiMaria Avatar
    Michael DiMaria

    Team Nelson (James Freed and Kelly Sokora) did a great job of leading us through the process. Answered our questions quickly and helped us make important decisions. Well done!

    Jim Morrow Avatar
    Jim Morrow
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