Buyer/Seller Agency

If you are selling your property, and sign a listing agreement, then the agent you list the property with becomes your "Listing Agent". As such, his duties are devoted entirely to you. You are his Client, and information shared between the two of you is confidential. The Listing Agent will represent you when an offer is presented on your property. He will negotiate all terms associated with the offer, and any subsequent issues with home inspections and radon, coordinate the termite inspection, well and septic tests, and work with the lawyer or closing agent to get your home sold.

If another agent brings a buyer to tour your home, that agent is considered a "Buyer Agent", and his duty rests strictly with representing the buyer from contract negotiations to closing. The Buyer Agent's commission comes from the seller, who has agreed to pay a commission to both the Listing Agent, and the Buyer Agent, so you do not need to compensate the Buyer Agent.

Occasionally, the same agent will represent both the Seller, and the Buyer, and accordingly, will be put in a "Dual Agency" role. This means he has to be impartial in his dealings with both Buyer and Seller. He cannot disclose information that is confidential or would create an advantage for either of his clients. Examples of this may include, how much the Seller will accept for the property, or how much the Buyer is willing to pay. The Dual Agent must be neutral in his representation of his two clients.