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Representation

posted: 05/15/2018

When sellers put their homes on the market, they hire a professional real estate agent to represent them. The seller hires a listing agent who is a representative of a real estate firm or Broker to market the property for them to get the highest price in the shortest amount of time. If as a potential buyer, you call the person whose name is on the sign, the listing agent, you will be speaking with the agent who owes all of his/her fiduciary duties to the seller, not to you. The agent will be doing his/her job to sell you the house on the seller's terms. When you contact the listing agent, he/she will be speaking to you as a customer rather than as a client. As a customer, the agent only owes you the duty of honesty.

As a potential buyer, a better path to take is for you to hire a buyer's agent upfront. A buyer's agent will fully represent you in the search and purchase of your new home. Buyer's agents will owe you all of the fiduciary duties that the listing agent owes the seller including the duties of loyalty, obedience, confidentiality, skill, care, and diligence. Your buyer's agent will look out for your best interest, which includes helping you find a home that meets your criteria and for the least amount of money. You will have no out-of-pocket expense for the services of a buyer's agent. Generally, listing agents share a portion of the commission paid to them by the seller for marketing their property with the buyer's agent. If you want full representation and a professional working solely for you, contact a REALTORĀ® and request to be fully represented.

All information is believed to be accurate but is not guaranteed.

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