REALTORS® work with relationships established as an 'agency relationship'. The relationship you have with your REALTOR® is established and formalized through the contract between you, your representative and the company your representative is licensed under. Disclosing the nature of the relationship with you is an obligation from your REALTOR®. Your REALTOR can act for a buyer, a seller, or both to a limited degree. At all times, a REALTOR® has an obligation to uphold the integrity of their clients and protect their client's interests.
When the REALTOR® represents the seller and lists their property on the MLS®, then a listing agreement is completed. This agreement outlines both the sellers and the REALTOR®'s obligations. It also discusses any compensation that the seller will pay the REALTOR®. Dual Agency is created when an agent represents both a seller and a buyer in one single transaction. This is a possible form of agency, but precautions must be taken. The agent must remain impartial to both parties and fully disclose all information relating to the sale. In addition, the buyer and seller have to agree in writing in order to establish dual agency.
For any real estate assistance in the Oakville, Burlington, Milton area contact Mary at email@example.com