What Type of Representation
Can You Expect?

With so many people ready and willing to help you buy or sell a home, it is easy to become confused about not only who represents who, but also what representation entails.

What is a Seller's Representative?

When an agent enters into a listing agreement with someone who has chosen to market their home for sale, they are known as the seller's agent or listing agent.    The listing agent's duties are detailed within this agreement and include marketing the home and obtaining a sale of the property which meets the seller's objectives. The listing agent owes all fiduciary duties to the seller. These duties include:

• Loyalty ~ focusing on the interests of the seller
• Confidentiality of privileged information
• Accounting for all funds and documents under the agent's control
• Maintaining a detailed file on all services performed for the seller
• Diligence in marketing the home to qualified buyers
• Represent and assist seller in negotiations and terms of sale

The listing agent is also held to a fiduciary duty of disclosure to educate the seller about any relevant information that might affect the seller's ability to obtain the best price and terms of sale.

What is a Buyer's Representative?

When an agent enters into a buyer's agreement with someone who is looking to purchase a piece of property, they are known as the buyer's agent. Regardless of whether the agent is to be paid by the buyer, seller or through a broker, the buyer's agent owes all fiduciary duties to the buyer. These duties include:

• Loyalty ~ focusing on the interests of the buyer
• Total disclosure of all known and confirmed pertinent information
• Confidentiality of privileged information
• Accounting for all funds and documents under the agent's control
• Maintaining a detailed file on all services performed for the buyer
• Diligence in locating a suitable property
• Represent and assist buyer in negotiations and terms

What is Dual Representation?

Dual representation, or intermediary representation, is a term that is often misunderstood. This term refers to a broker agency representing both the buyer and the seller in a single transaction. This cannot occur unless both the buyer and seller consent to an intermediary relationship with the Broker Agency in writing. The seller/buyer agent(s) are required to treat both parties honestly and impartially so as not to favor one party or work to the disadvantage of any party. Unless written permission from the appropriate party is obtained, the agent(s) is prohibited from disclosing:

• That the seller will accept a price less than the asking price
• That the buyer will pay a price greater than one submitted in a written offer
• Any other information a party specifically instructs the broker in writing not to disclose, unless disclosure is required by law

At Mary Nell Garrison Realtors, we offer Total Representation. This means we are fully qualified and prepared to represent you in any of your real estate needs every step of the way.