The duty is clear:
put the client first.

Article 1: Fiduciary Responsibility

A Buyer’s Agent owes to his Client a commitment to act in a trustworthy manner and in a way that results in the Client’s confidence that their best interests are represented.

1.01 – An Elika Buyer’s Agent will act only in the Client’s best interest while serving as the Client’s Agent in any matter relating to property or real estate purchase.

1.02 – An Elika Buyer’s Agent will not represent a Client if it would result in a conflict of interest.

1.03 – An Elika Buyer’s Agent will not direct their Client into service, knowing that it is not in the Client’s best interest.

Article 2: Duty of Accounting

An exclusive buyer’s agent shall be required to produce an accurate account of property or money entrusted to, received, or put out on behalf of the Client at whatever point it shall be requested.

2.01 – You can employ an Elika Buyer’s Agent through a written agreement between Agent and Client, the contents of such agreement specifically stating the services provided, the service fee if not a co-broke, and the initiation and completion dates of the agreement.

How much does a buyer’s broker cost?

Compensation and the scope of services are confirmed in a written buyer-representation agreement. Any seller offer of compensation is disclosed and does not change ELIKA’s duty to the buyer.

2.02 – An Elika Buyer’s Agent is not to accept remuneration beyond which specified in the written agreement, whether this should be monetary or in the form of gifts.

2.03 – An Elika Buyer’s Agent is responsible to his Client for disclosing any income from referring said Client to a listing Agent.

Article 3: Duty of Care or Competence

An Exclusive Buyer’s Agent is expected to show reasonable technical expertise, diligence, and professionalism when acting on behalf of a Client.

3.01 – An Elika Buyer’s Agent must hold a valid real estate license from a New York State governing agency.

3.02 – An Elika Buyer’s Agent is accountable for their actions. Therefore, they are expected to record or otherwise document events throughout the working relationship.

3.03 – An Elika Buyer’s Agent will work at their Client’s request when negotiating terms and prices.

3.04 – An Elika Buyer’s Agent must research the target property and all surrounding it to discover relevant information. This shall be done whenever possible.

3.05 – An Elika Buyer’s Agent shall inform other agents and those individuals without a license that they serve as the Buyer’s Agent.

3.06 – An Elika Buyer’s Agent cannot perform any service, specialized or otherwise, for which they are unqualified.

Article 4: Duty of Loyalty

An Exclusive Buyer’s Agent shall stay loyal to their Client throughout any real estate purchase and won’t lower their level of loyalty through “informed consent.”

4.01 – An Elika Buyer’s Agent will remain loyal and not do anything that could risk the Client’s bargaining ability or other interests.

4.02 – An Elika Buyer’s Agent will keep the information, sensitive or otherwise, regarding their Client confidential unless they have been authorized to share it by the Client or are required to share it by law.

4.03 – An Elika Buyer’s Agent must share all known information about the Seller that is considered material to their Client.

Article 5: Duty of Obedience

Elika real estate agents must acknowledge and accept their responsibility to follow all reasonable and lawful directions of their Clients in determining how to follow through with the agreed-upon services. They must also advise their Client when their action might be unwise, considering the agent’s professional judgment and experience.

5.01 – An Elika Buyer’s Agent must follow all lawful directions of the Client.

5.02 – An Elika Buyer’s Agent must follow all State regulations and laws under the jurisdiction for which they do business.