Agency Relationships

Very Important To build a Good Relationship

How Our Agency Relationships Works

It is very important to inquire about the background of a REALTOR® company you are about to work with. Hence, the company aims to reveal the Agency Relationship to their potential clients at the earliest possible time. This makes client to understand, for whom REALTOR® works? Also, to whom is the REALTOR® legally obligated?

Buyers Relationship to Realtors

Here, a buyer is provided with following two options, for developing a healthy relationship with a REALTOR®.

As a Client, a real estate company acting as a Buyer’s Agent must do what is the best for a buyer. A written contract, referred as a Buyer Agency Agreement explains services provided by the company. It helps in establishing a buyer agency and fee arrangement for the REALTORs® services. At the same time, it updates regarding obligations a buyer may have. Once under such an agency, buyer will be obliged to work with that company for a specified time period. It ensures that the provided information will be kept confidential. Also, the REALTOR® offers professional advice on negotiating the best price for the buyer and provides him with apt information required to make the right decision.

The company gives honest and fair treatment to buyers. It is really very essential for the buyer to understand the relationship with the REALTOR®, as it explains that the REALTOR® is technically a sub-agent of the seller. Hence, all the duties are owned to that particular seller. However, the REALTOR® discloses the relevant information about a property, you are willing to purchase. Also, they honestly answer all questions about that property without misrepresenting any facts. Under relationship with the buyer, the REALTOR® must not imply that they shall negotiate a price for the buyer, as that would be a direct conflict with the REALTORs® sub-agency relationship with the seller. This leads to violation of our rules and regulations.

Sellers Relationship to Realtors®

A real estate company is always in practice to give the best results to the property seller. A written contract, referred to as a Listing Agreement, launches the seller’s agent. It also explains company services along with a fee arrangement for the REALTORs® services. At the same time provides timely updates on the obligations a seller must-have.

All the information shared with REALTOR® by the seller should be kept confidential from potential buyers and others. The REALTOR® should convey all the buyer related information to sellers. For instance, if the REALTOR® knows that a buyer is offering more for a property, that information should be shared with the property seller.
A seller must realize that keeping his or her best interest in mind, REALTOR® is working with a buyer as a sub-agent. Also, with the best buyer’s interest mind, REALTOR® works with a buyer, as a Buyer Agent. But, still it may be compensated by the seller through Listing Agent provisions.

Multiple Representation

At times, a real estate company can be both the buyer and the seller agent. If so then the buyer and seller must include to this arrangement in their listing and buyer agency agreements. As per this multiple representation arrangement, the company will do the best for both buyer and seller of the property.

It becomes very essential to set up a multiple representation relationship if the company’s loyalty is divided between the buyer and seller. As, this agreement describes the rights and duties to buyers and sellers, who have conflicting interests. Also, it gives information on any limitations to those rights and duties.