WHAT IS AGENCY?

The relationship between a Real Estate Brokerage and a client is called "Agency".  When first meeting with a REALTOR® it is important they explain the different types of agency representation.  It is essential you understand the different types of representation.  If you have any uncertainties ask for clarification.

There are three major kinds of Agency:

Seller Agency - The Real Estate Brokerage and all of its REALTORS® represent the Seller exclusively.  It is their job to get the best offer on the home.  They are legally obligated to the Seller to disclose any information they know about the Buyer.

Buyer Agency - The Real Estate Brokerage and all of its REALTORS® represent the Buyer exclusively.  It is their job to negotiate the best offer on the Buyer's behalf and keep the Buyer's information confidential.

Multiple Agency - sometimes referred to as Duel Agency is when the Real Estate Brokerage may have an agency relationship with both the Seller and the Buyer.  Both the Seller and the Buyer must give their informed consent.  The Real Estate Brokerage and all of its REALTORS® must provide full and timely disclosures of all pertinent information to both parties.