Besheer on Real Estate: Find Out Your Agent’s Loyalties

As the seller or buyer of a home, it is your right and responsibility to know who is looking out for your legal and ethical interests. The disclosure of the agent representing you usually takes place early, before either a seller signs a listings agreement or a buyer is shown any properties and before any confidential information is shared with the agent. There are several types of agents, though most can be defined as either a seller’s agent or a buyer’s agent. A seller’s agent is a realtor who exclusively works for and represents the seller. This agent’s responsibilities include listing and marketing the home for sale and managing all steps of the process for the seller. The number-one priority of the seller’s agent is to sell the house for the highest price and best terms for the seller. A buyer’s agent is a realtor who is contracted by and represents the buyer only in a deal. Their responsibilities include helping buyers locate a home and negotiating the most preferable terms for that property. The buyer’s agent is usually compensated by the seller through a commission shared with the selling agent resulting in no extra cost to the buyer. | Read More