Signing With an Agent/Seller Representative
In real estate, there are different possible forms of agency relationships. For the seller, there is a Seller Representation Agreement:
- When a real estate brokerage represents a seller, it must do what is best for the seller of a property.
- A written contract, called a listing agreement, creates an agency relationship between the seller and the brokerage and establishes seller representation. It also explains services the broker will provide, establishes a fee arrangement for the Realtor’s services and specifies what obligations the seller may have.
- A seller’s agent must tell the seller anything known about the buyer. For instance, if a seller’s agent knows a buyer is willing to offer more for a property, that information must be shared with the seller.
- Confidences a seller shares with a seller’s agent must be kept confidential from potential buyers and others.
- Although confidential information about the seller cannot be discussed, a buyer working with a seller’s agent can expect fair and honest service from the seller’s agent and disclosure of pertinent information about the property.
