Working with an Agent

Working Together – The Agency Relationship Explained

In real estate, there are different possible forms of agency relationships. Working with an agent offers a wide range of benefits.

  • The Seller’s Agent
    • When we work as a seller’s agent we must do what is best for our seller of a home. A written contract called a listing agreement explains the services that the seller agent and their company will provide; it establishes a fee arrangement for the agent’s services and specifies what obligations a seller may have.
  • The Buyer’s Agent
    • When we work as a buyer’s agent we must do what is best for our buyer of a home. A written contract called a buyer agency agreement explains the services that the buyer agent and their company will provide; it establishes a fee arrangement for the Agent’s services; and specifies what obligations a buyer may have. Typically, buyers will be obligated to work exclusively with that company for a period of time. Confidences a buyer shares with the buyer’s agent must be kept confidential.
  • Dual Agent
    • Occasionally a real estate company and/or an agent will be the agent for both the buyer and the seller. The buyer and seller must consent to this arrangement in their listing and buyer agency agreements. Under this “dual agency” arrangement, the company/agent must do what is best for both the buyer and the seller. Since the company/agent’s loyalty is divided between the buyer and the seller who have conflicting interest, it is absolutely essential that a dual agency relationship be established in a written agency agreement. This agreement specifically describes the rights and duties of everyone involved and any limitation to those rights and duties.

The Tim Sova Team works as a team concept to ensure each step of your transaction runs smoothly and efficiently. With specialists handling each aspect of the transaction,
you get the service, communication, and results you deserve. Contact us today to learn more about working with an agent.