REALTY HOUSE
SUNPARLOUR INC.
e-mail
KINGSVILLE-LEAMINGTON-REAL-ESTATE.COM
Working with a Realtor
When working with a REALTOR it is important to understand who the REALTOR works for. To whom the REALTOR is legally obligated?
In real estate there are different possible forms of Agency Relationship:
1. SELLERS AGENT
When a real estate company is a "Sellers Agent," it must do what is best for the seller of the property.
A written contract, called a listing agreement ,establishes the SELLER AGENCY. it also explains the services the company will provide, establishes a fee arreangement for the REALTORS' services and specifies what obligations a seller may have.
Information that a Seller shares with a Sellers Agent must be kept confidential from potential buyers and others.
Although confidential information about a Seller cannot be discussed, a buyer working with a Seller's Agent can expect fair and honest service from the Seller's Agent and disclosure of pertinent infromation about the property.
2. BUYER'S AGENT
When a real estate company acting as a "Buyers Agent" must do what is best for the Buyer.
A written contract, called a Buyer Aency agreement , establishes buyer agency. It also explains the services the company will provide, establishes a fee arrangement for the Realtor's services and specifies what obligations a buyer may have. Typically, buyers will be obliged to work exclusively with that company for a period of time.
Confidences a Buyer shares with the Buyer's agent must be kept confidential.
Although confidential information about the Buyer cannot be disclosed , a Seller working with a Buyer's agent can expect to be treated fairly and honestly.
3. DUAL AGENT
Occasionally a Real Estate Company will be the agent of both the Buyer and Seller. The Buyer and the Seller must consent to this arrangement in thier Listing and Buyer agency agreements. Under this "Dual Agency" arrangement , the company must do what is best for both the Buyer and the Seller. Since the Company's loyalty is divided between the Buyer and Seller who conflicting interest. It is absolutely essentail to have a written Agency Agreement. This agreement specifically descibes the rights and duties of every one invlolved and any limitations to those right s and duties of every one involved and any limitations to those right s and duties.
The Agency Relationship
Click Below for your Choice
LISTINGS APPRECIATED
CALL BOB MCCORMICK
519-324-5501
e-mail
COTTAM NEW HOMES
Bob McCormick
BROKER
LET MY 40 + YEARS OF REAL ESTATE
EXPERIENCE WORK FOR YOU
BUYING OR SELLING
CALL BOB 519-324-5501
FINANCING, PRE-QUALIFIED OR PRE-APPROVED
There is a DIFFERENCE . When you leave your lenders office, have an APPROVAL CERTIFICATE from your Lender before you go shopping for a home. Your realtor can review the CERTIFICATE and determine what conditions are included and then determine what price range of home you should be looking for. This can save valuable time for everyone and eliminate the disappointment for both the Buyer and Seller, if for whatever reason, financing can not be obtained.
 | ||||||
| ||||||
OPEN HOUSE
CLARK ST COTTAM
SUNDAY 1-3
