Seller Agency
Under this relationship all real estate brokers and their agents (icluding the agent who writes and presents the offer from the buyer), represents the best interests of the seller.
Duties of the agent for the seller include:
- Promoting the best interests of the seller
- Obtaining the best price and terms for the seller
- Offering the property and services without regard to race, color, religion, sex, age, marital status, national orgin, hadicap, or familial status
- Treating all parties in the tranaction fairly
- Disclosing to the seller facts which might affect or influnce the seller's decision
In dealings with the buyer, a seller's agent should:
- Exercise reasonable skill and care in perforamce of the agent's duties
- Deal honestly, fairly, and in good faith
- Disclose all facts known to the agent materailly affecting the value or desirability of the property, except as otherwise provided by law
Buyer Agency
Here the real estate agent represents the buyer and has a duty to represent the buyer's best interest. Duties of the agent for the buyer include:
- Protecting the best interests of the buyer
- Negotiating the best price and terms for the buyer
- Offering the property and services without regard to race, color, religion, sex, age, marital status, national orgin, hadicap, or familial status
- Fully disclosing to the buyer know facts that may affect or influence the buyer's decision
- Treating all parties to a transaction fairly
In dealings with the seller, a buyer's agent should:
- Exercise reasonable skill and care in perforamce of the agent's duties
- Deal honestly, fairly, and in good faith
- Disclose all facts known to the agent materailly affecting the buyer's ability and/or willingness to preform a contract to acquire seller's property that are not inconsistent with the agent's fiduciary duties to the buyer.
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