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Buying or Selling A Home - Understanding Agency Relationship

By
Real Estate Agent with Better Homes and Gardens Rand Realty

AGENCY RELATIONSHIPS

When real estate professionals work with sellers and buyers, "agency" relationships are established. As you start working with a real estate professional, please ask for a clear explanation of the current agency laws in [your state or province], so that you understand these important issues.

There are three kinds of agency relationships:

Buyer's agent: A "buyer's agent" represents the buyer during the home buying process. The buyer's real estate professional (agent) has a fiduciary responsibility to represent the buyer's best interests including reasonable care, loyalty and confidentiality.

Seller's agent: A "seller's agent" represents the interest of the seller and has a fiduciary responsibility of reasonable care, loyalty, confidentiality and disclosure to the seller. A seller's real estate professional (agent) works to assist the seller in locating a buyer and in negotiating a transaction suitable to the seller's specific needs.

Disclosed dual agent: A "disclosed dual agent" represents the interests of both the buyer and the seller, during the same transaction. A dual agent has responsibilities to both buyer and seller and must act in the best interest of both parties.

For assistance with any of your real estate needs, please call or visit me, whether it's to get started on helping you realize your goals and dreams, or just to ask a question. I would welcome the opportunity to make a difference for you.

Anthony Stokes-Pereira
Prudential Rand Realty
Office: (845) 770-2188
Email: anthony.stokespereira@prudentialrand.com
Website: www.anthonystokespereira.com

Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Anthoney

I wished more people folloed thes rules

Tom Braatz

Jan 10, 2009 10:56 AM