Once you have made the decision to purchase or sell a home, the next step is to find a real estate agent who will best represent you and your housing needs.
There are three types of real estate agencies: the Buyer’s Agent, the Seller’s Agent, and the Dual Agent.
These are the three typical Agent/Client relationships that may occur. The terms of these relationships may vary from state to state, so please verify the terms of these Agency Agreements in your local area before signing any agreements.
The Buyer’s Agent
Many prospective home buyers do not feel it is necessary to contract the services of a real estate agent. They feel that the listing agent will represent them fairly during the buying process. However, what many buyers do not know is that the listing agent, or Seller’s Agency, works solely on behalf of, and in the best interest of the home seller. Therefore, it is essential that the buyer seek out and find a Buyer’s Agent that will best meet their needs.
A Buyer’s Agency works solely on behalf of the buyer. The buyer’s agent will assist their client in the negotiation of the terms of a contract. In addition, they will gather information on zoning issues, past tax data, schools and community services, and any other information deemed necessary by the buyer before making the decision to extend an offer on a home.
Many prospective home buyers have the misconce