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Understanding Agency . . .

Who Works for Whom?

 

Seller Agency (Single Agency)

  1. Agent will represent the best interests of the seller
  2. Agent will owe the seller fiduciary duties
  3. Agent must give the buyer all material facts so that the buyer can make an educated decision

 

Buyer Agency (Single Agency)

  1. Agent will represent the best interests of the buyer
  2. Agent will owe the buyer fiduciary duties
  3. Agent must give the seller all material facts so that the seller can make an educated decision

Transaction Broker (Dual Agency)

  1. Agent represents both the buyer and the seller equally
  2. Agent’s objective is to facilitate a mutually satisfactory agreement among all parties
  3. Agent give all options to the buyer and the seller
  4. Depending on the local market, all parties may be present a contract presentation to negotiate on their own behalf
  5. All parties have confidentiality. Agent may do nothing to the detriment of either the buyer or the seller
  6. Both the buyer and the seller have a right to counsel.  Before making any decisions, both parties have the right to seek outside counsel

In all relationships, as your Agent, I have a duty to act honestly with both the buyer and the seller.

 

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