This is the second in a series of articles describing the concept of agency, as it applies to real estate transactions in North Carolina. The purpose of these articles is to educate people who are interested in buying or selling a home in the Gaston County, NC region about the value of representation when buying or selling a home. This information should be of particular interest to first time home buyers who have not previously gone through the process of buying a home.
- Part 1 - "What is Agency?" can be found here.
Part 2 - Agency and the Home Seller
When a home owner signs an Exclusive Right to Sell Listing agreement with an agent, they enter into an agency relationship with that agent. The agent now owes his/her best effort to serve the home owner's interest, above all other considerations, to get the home sold. This should come as no surprise to anyone who has ever sold a home.
Under an exclusive listing agreement, a full service agent takes on the roles of project manager, subject matter expert, marketing director, advertising agency, and chief negotiator for the home seller.
In Part 3 of the series I will discuss the agency relationship as it relates to finding and purchasing a home.