Seller's Agent

Definition: Represents the Seller exclusively

Duties to the Seller:

Fiduciary duty of utmost care, integrity, honesty, and loyalty

Buyer's Agent: 

Definition: Represents the Buyer exclusively, with Buyer's consent

Duties to the Buyer:

Fiduciary duty of utmost care, integrity, honesty, and loyalty

Dual Agent: 

Definition: Represents both Seller and Buyer with consent

Designated Agency

Definition: Designated agency happens when a single brokerage assigns different agents to represent the buyer and the seller separately in the same transaction.

Separate Representation: Each client gets their own agent who advocates solely for their interests, reducing the potential for conflicts of interest.

Conflict of Interest:

• Representing both parties can create conflicting interests

• Difficult to provide unbiased advice to both Buyer and Seller

Reduced Loyalty:

• Fiduciary duty to both parties can dilute loyalty

• Potential for compromised advocacy on behalf of each party

Confidentiality Concerns:

• Risk of unintentional disclosure of confidential information

• Hard to maintain complete confidentiality for both parties

Litigation Risk:

• 71% of all real estate litigation involves transactions with only one agent

• Increased potential for disputes and misunderstandings

Client Distrust:

• Perception of bias can lead to distrust from both Buyer and Seller

• Difficult to assure clients of fair treatment and equal representation