Sunday, December 9, 2018
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What are the types of agency and who does a real estate agent really work for?

Glasses w/Nose Many beginning home buyers and sellers are confused about who real estate agents represent. Don't worry, they're not trying to disguise themselves. Here is a quick look at the various types of agency:
  • Seller agency

  • The most traditional situation is one in which the seller is represented by both the real estate company who lists the home for sale and the real estate company who brings in the buyer.
  • Buyer agency

  • This is a relatively new trend in real estate. Just as a written Listing Agreement is required to represent a seller, a written Buyer Agency Agreement is required to represent a buyer. Under that written agreement, the agent represents the buyer with confidentiality and loyalty, and shares with the buyer any material information.
  • Disclosed dual agency

  • In this case, an agent helps both the buyer and the seller. There must be informed consent of both the buyer and seller, using a written agreement with the involved broker(s). Special conditions apply regarding disclosures to both parties, including limitations on an agent's ability to represent either buyer or seller fully or exclusively.
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FIRST TIME How To Buy The Most Home For Your Money
QUALIFIED How Much House Can You Really Afford?
TIRE KICKING Secret Tests To Check A Property's Condition
LOCATION LOCATION: The Most Important Questions Every Buyer Should Ask
NEGOTIATE How To Buy The Home You Love At The Price You Want
SEARCH Quick Checklist For Finding The Perfect Home
INVEST YOUR RENT Why Pay Your Landlord's Mortgage?
MORE FOR LESS Six Tips For Getting The Best Loan
OPTIONS 10 Savvy Ways To Pay For A Home Today
SHELTER Six Little-Known Ways To Help Relatives Finance A Home
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