Getting the Best Service
Agency Relationship is Your Choice.
A Buyer who desires the assistance of a REALTOR should be aware of the potential agency relationships in the purchase and the sale of real estate. These are: Buyer Agency, Subagency, and the Dual Agency which are explained below.
Under the Buyer Agency method, a REALTOR enters into a written agreement to represent a Buyer in the purchase of real estate. As the “Buyer’s Agent,” a REALTOR is able to fully represent a Buyer and may provide substantial advice and assistance to the Buyer far beyond that which a “Subagent” can provide. With Buyer Agency, there is no confusion about who represents the Buyer; your Agent has a fiduciary relationship with you and must act in your best interest.
In Seller/Subagency, both REALTORS involved represent the Seller. The REALTOR working with a potential Buyer is a “Subagent.” The REALTOR has a fiduciary or trust relationship with the Seller. A “Subagent” working with a potential Buyer customer is not working for the buyer, but rather is working with the Buyer to assist the Buyer in finding a property to buy.
Dual Agency is a relationship in which the REALTOR acts as the agent for both the Seller and the Buyer in the same transaction with the written consent of all parties. Duties of the REALTOR include confidentiality to both parties and taking no action that is adverse or detrimental to either party. |
