AGENCY Listing   Agent Buyer Sellers Selling Agent Which side of the “Fence” are you on?
Listing Broker/Salesperson is Agent for the seller-Client Selling Broker/Salesperson is subagent for the seller-Client TRA...
<ul><li>SALESPERSON MUST TREAT  BUYER : </li></ul><ul><li>1.  Fairly & Honestly, and </li></ul><ul><li>  2.  Disclose to t...
Listing Broker/Salesperson is Agent for the Seller-Client Selling Broker/Salesperson  is AGENT for Buyer-Client Buyers BUY...
BUYER AGENCY BROKERAGE SYSTEM <ul><li>The Selling Real Estate Agent is on the Buyer’s side of the (fence) transaction.  He...
“ Results when Buyer -Client wishes to purchase property listed with the same company ( in-house listing)” Buyers BROKER /...
How is a Buyer’s Agent Paid? Like other goods & services, brokerage fees or commissions are already built into the price o...
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Agency

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Understanding Agency

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Agency

  1. 1. AGENCY Listing Agent Buyer Sellers Selling Agent Which side of the “Fence” are you on?
  2. 2. Listing Broker/Salesperson is Agent for the seller-Client Selling Broker/Salesperson is subagent for the seller-Client TRADITIONAL AGENCY RELATIONSHIPS Buyer NO REPRESENTATION
  3. 3. <ul><li>SALESPERSON MUST TREAT BUYER : </li></ul><ul><li>1. Fairly & Honestly, and </li></ul><ul><li> 2. Disclose to the Buyer known facts that may affect value </li></ul><ul><li>Loyalty </li></ul><ul><li>Obedience </li></ul><ul><li>Disclosure </li></ul><ul><li>Confidentiality </li></ul><ul><li>Accounting </li></ul><ul><li>Reasonable Care </li></ul>SELLER ___FIDUCIARY DUTIES OWED BY AGENT TO CLIENT : TRADITIONAL AGENCY RELATIONSHIPS
  4. 4. Listing Broker/Salesperson is Agent for the Seller-Client Selling Broker/Salesperson is AGENT for Buyer-Client Buyers BUYER AGENCY BROKERAGE SYSTEM 2 Agents & 2 Clients
  5. 5. BUYER AGENCY BROKERAGE SYSTEM <ul><li>The Selling Real Estate Agent is on the Buyer’s side of the (fence) transaction. He must : </li></ul><ul><li>Negotiate for the lowest price possible, and </li></ul><ul><li>Structure the transaction to the Buyer’s advantage </li></ul>FIDUCIARY DUTIES OWED BY BOTH AGENTS TO CLIENTS: 1. Loyalty 4. Confidentiality 2. Obedience 5. Accounting 3. Disclosure 6. Reasonable Care
  6. 6. “ Results when Buyer -Client wishes to purchase property listed with the same company ( in-house listing)” Buyers BROKER /SALESPERSON CANNOT DISCLOSE: Price Seller is willing to accept Price Buyer is willing to pay Personal confidences that may put one party at a disadvantage DUAL AGENCY RELATIONSHIPS Sellers Broker/Salesperson (s) becomes a mediator for both Buyers and Sellers Listing Agent and Selling Agents are the same person and do not represent either party- He/She is a mediator!
  7. 7. How is a Buyer’s Agent Paid? Like other goods & services, brokerage fees or commissions are already built into the price of the property being purchased. SELLING PRICE COMMISSIONS AND OTHER CLOSING COSTS NET TO SELLER LISTING BROKER RECEIVES PART OF COMMISSION SELLING BROKER RECEIVES PART OF COMMISSION -My company could participate in the sellers offered fee split -We can instruct the seller to pay my company in the buyer’s behalf -The buyer can pay my company directly upon closing escrow

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