Buyers Agent or Sellers Agent?

That is the question! If you are just starting your journey to purchase a home-Congratulations! This is a huge step. Do you know the difference between a buyers agent and a sellers agent?

Basically the sellers agent represents the interest of the seller and the buyers agent represents the interests of the buyer. Sounds pretty simple.

Sellers Agent- Agent of record on the listing-listed on the sign or in the ad/flyer. This agent has a contractual agreement with the home’s seller to represent their best interest-otherwise known as fiduciary duty. Their first loyalty lies with the seller.
Buyers Agent: Agent who contracts with home buyer to represent him as his exclusive agent and has the same fiduciary responsibility to the buyer as the sellers agent has to the seller. Their first loyalty lies with the buyer.

Dual Agency: This is where one agent agrees to represent both buyer and seller in a real estate transaction. They will agree to represent both parties within the transaction-Apparently giving their first loyalty to both simultaneously.
Assuming the agent is honest and conscientious -and of course we do assume this -he or she will have a difficult time providing the best advice to two conflicting parties and obtain the best possible outcome for both sides. It is very difficult to serve two masters at one time and do it well.

Be an informed consumer. Before you sign a real estate contract, make sure you are engaging the assistance of a real estate agent that has your best interests as their first priority.

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