One beautiful day this past summer, the phone rang. Answering with, “Hello, this is Gina, how may I help you?” I hear excited first-time home buyers on the other end, asking about a house they just spotted.

“There is a house with a for sale sign in the yard, we want to see it.”

I pull the home up on the MLS. “Just found it,” I say. “Sure, if you would like to set up a time to see the home, I can help you with that.”

“Great!” answer the callers.

Fast forward a few days. Now, meeting the would-be buyers, they ask, “Is this your listing?”

“No, it is not,” I answer, leaving the couple looking a little surprised. “Oh, but can you still show us the house, I mean, do we need to contact the listing agent instead?”

Surprised as well, I realize this question exposes some hidden pitfalls inexperienced buyers may unknowingly encounter when starting the home buying process. For unrepresented buyers, calling the seller’s agent is not always a good idea as there are potential conflicts of interest that should be considered before making that call.

Regardless, I explain, “Any licensed real estate agent can show you a property, even if the property is not listed with the agent. You can call the listing agent for a showing if you are more comfortable with that, but in many cases, working with your own buyer agent serves you better overall.”

The couple is even more puzzled. Realizing real estate buying is not second nature for most people, it is suddenly clear to me both buyers and sellers need more information and education to make wise buying and selling decisions; it falls on us Realtors to bring clients and potential clients up to speed.

What are the must-knows for every potential buyer?

First, know the difference between a listing agent, buyer’s agent and dual agency; this difference could impact your bottom line.

What are these differences?

A listing agent is an agent who has listed a seller’s property for sale and is working on behalf of the seller’s best interests. The listing agent does not represent you, the potential buyer. The listing agent is still bound to treat non-clients ethically, but is not bound to advance a non-client buyer’s interests.

What does this mean to you, the buyer?

This means if you happen to have a conversation with a listing agent and your conversation moves beyond pleasantries, with you divulging such things as your buying motivation, buying strategy or personal financial information, this agent is not legally bound to keep your information private from the seller. In fact, the agent is legally bound to divulge any information to the seller if the information impacts the seller’s fiduciary interests.

Is this a problem? Yes. Accidentally over-sharing with a listing agent can place you at a disadvantage during any possible future purchasing negotiations if you decide to pursue the property listed with the agent you accidentally over-shared with.

Remember, listing agents are the seller’s fiduciary agents; if you are not a well seasoned buyer or real estate investor, you will be better served working with a buyer’s agent. When is the only time a listing agent is legally obliged to keep a buyer’s information confidential? When a listing agent is also representing the buyer through a dual agency agreement.

Dual agency, what is this?

Realtors can represent both the seller and buyer at the same time in the same transaction if the seller and buyer both agree to this arrangement; this is a dual agency agreement. In this arrangement, the agent has agreed to work in the best interests of both the seller and buyer.

Dual agency agreements can present advantages for the savvy, experienced buyer. But there are tricky reasons surrounding confidentially, plus considering that seller and buyer interests are opposing; the seller wants the highest price for their property, whereas the buyer aims to negotiate the lowest reasonable price. If you are new to the market, this arrangement is not for you. You need a buyer’s agent.

How do you find a buyer’s agent?

Any agent can work with you as your buyer agent, but you want to do your due diligence before selecting any agent.

What do you need to know?

First, not all licensed real estate sales agents are Realtors. What! Yes, this is true. A Realtor is a real estate agent who has voluntarily joined the National Association of Realtors and, in doing so, is holding themselves to the ethical standards set by the association.

Call around and find not just real estate sales agents, but Realtors to interview. Keep in mind, at this point in the process, you are not represented and will not be represented by any Realtor unless you decide to sign an Exclusive Buyer’s Representation Agreement. If you do sign, the agreement spells out that your Realtor has a fiduciary responsibility to only you: the buyer. Meaning, it is your Realtor’s job to place your fiduciary interest first; keeping your interest intact, whole and not at risk throughout the home buying process.

What to look for in a Realtor?

Find a Realtor you can trust, can build a relationship with and who knows their business. Research Realtors; ask friends and family for recommendations. Once you have narrowed your selection, interview Realtors to learn more about their negotiating strategies, specifically concerning how they will keep your best interest in the forefront during any negotiations. Do not be afraid to ask any potential Realtor, “Why should I work with you?”

A good Realtor has a good answer.

GINA LEDUC-KUNTZ is a local Realtor who grew up in Topsham and whose family owned and operated LeDuc Realty as a mainstay in Topsham for nearly 40 years. She now lives in Freeport with her very large and rambunctious family. Her two eldest sons are Maine lobstermen off Chebeague Island, her eldest daughter is studying early childhood education, her two young children attend St. John’s Catholic School in Brunswick and her preteen son attends the Coastal Academy in Harpswell.