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 How much do I need to tell my Real Estate Agent? |
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Real estate agents would say that the more you tell them, the better they can negotiate on your behalf. However, the degree of trust you have with an agent may depend upon their legal obligation.
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Agents may have the following business relationship with you:
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They can represent the buyer exclusively, called single agency, or represent both the buyer and seller in a dual-agency situation.
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Seller Agency:
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Is a relationship where the Agent, upon entering into a written agreement works only for the Seller.
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Buyer Agency:
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Is a relationship where the Agent, upon entering into a written agreement, works only for the Buyer.
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Dual Agency: |
A relationship where the Agent acts for both the buyer and seller in the same transaction, with the written consent of all parties.
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Designated Agency:
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The employing broker may, with your consent, designate one or more agents from the real estate company to represent you.
Some states require agents to disclose all possible agency relationships before they enter into a residential real estate transaction.
Having now disclosed to you the various business relationships available from agents, you should be able to decide in which capacities I can serve your best interests.
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