| Agency |
Historically, real estate agents have worked for the seller--both the listing agent and the selling agent. The seller has paid the commission and, by law, the agent's loyalty and responsibility have been to the seller.
But that is changing. More and more buyers are choosing to have their own agent to represent them in the transaction. To accomplish this, the buyer and the agent must have a written Buyer's Agency Agreement and disclose this to the seller. This agreement identifies the parties, the beginning and ending dates, the type of property, and the amount of commission and how it is to be paid. In our market, the seller usually agrees to pay a buyer's agent the same as he would a subagent who sells the property. Whether or not you choose to work with a Buyer's Agent, you can expect the agent to act honestly and in good faith and disclose all facts which affect the property. For more information about agency, call me for a free brochure.
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