Mar 06 2008
What is Agency?
Agency refers to Agency Law.
That means that when I work with a buyer or seller, there is an agency relationship established, and I have certain duties or responsibilities due to this relationship.
As a buyer’s agent…
I have a duty to exercise reasonable skill and care, deal fairly and in good faith, to present all written offers, to disclose all existing facts, to maintain confidentiality, and to account for all money and property received.
As a seller’s agent…
I have a duty to be loyal to the seller, to disclose any conflicts of interest, to refrain from giving advise outside my areas of expertise, to maintain confidentiality, and to make a good faith effort to find buyers for their property.
An agency relationship continues until a property is sold or bought or a listing agreement expires. Even then, I still have an obligation to maintain confidentiality.
That’s it in a nutshell.
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