real estate transaction: What is a Buyer's Agent? - 07/20/07 04:55 AM
What is a Buyer's Agent?
Every real estate transaction has two parties - the seller and the buyer. While some homeowners elect to sell their property themselves without the expertise of a licensed real estate firm, most do use the services of a realtor.
The Seller's Agent
The seller is represented by the real estate agency that listed the property. A seller's agent WORKS ONLY FOR THE SELLER and has legal obligations, called fiduciary duties, to the seller. These include reasonable care, undivided loyalty, confidentiality, and full disclosure. Seller's agents often work with buyers, but they do not represent the buyers.
The Buyer's Agent
A buyer's … (2 comments)