What Does It Mean to Represent a Seller?

An Arkansas real estate agent who enters into an agreement to sell property for an owner is known as the "Listing Agent" or "Agent for the Seller." A Listing or Seller's Agent represents the Sellers in the transaction.  That means that the Listing or Seller's Agent may assist the Buyer who is not represented in purchasing the property, but the Listing or Seller's Agent's primary duty is to protect and promote the interests of the Seller.

As a Buyer not represented by an Arkansas Real Estate Agent you should keep any information that may place you at a disadvantage in negotiations confidential and undisclosed to the Seller or the Seller's Agent since the Seller's Agent has a duty to pass that information on to the Seller.

Confidential information may include:
     ▪the Buyer's real estate needs and motivations,
     ▪the highest price the Buyer is willing to offer,
     ▪negotiating strategies or tactics,
     ▪or financial situation.

 
This post has been included in Arkansas Real Estate News

2 Comments on Seller Representation

JUL
23
2006
283,284 Points 6 Featured Posts Outside Blog
David,  I am just proof reading a book that I am co-authoring for sellers.  Will go back and be sure to check that we have the confidenial information included.  I liked the words confidential.  Our State also supports transaction brokers..  This is where we represent the transaction and not individuals.  Important use of words when describing this and it popped right off the page when I read your blog.  Thanks 
4:25pm • #1
OCT
30
2006

David, 

I go over the representation aspects with my sellers and my buyers. They do not listen ...we have them sign disclaimers and such. (that they don't read). When the buyer is "bitten" by the buying bug, they seem to throw common sense out the window.

I spend  time counseling my buyers and sellers trying to help them understand "agency representation". 

 

Laurie Scott, P Broker
12:01pm • #2


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Mena, AR

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Vision Realty in Mena Arkansas

Address: 500 Mena Street, P O Box 192, Mena, AR, 71953

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