REALTORS® work within a legal relationship called agency.
The agency relationship is established through a contract between you, the client, and your agent, the company under which the REALTOR® is licensed. Most REALTORS® use a brochure titled Working with a Real Estate Agent to disclose the nature of the agency relationship with their client.
A REALTOR® can act for a seller or a buyer, or to a limited degree, both. Whomever they represent, REALTORS® have a legal obligation to uphold the integrity of their clients, while protecting and promoting their interests.
A REALTOR® can also provide real estate services to parties with whom the REALTOR® does not have an agency relationship. Typically called a customer relationship, REALTORS® can do the following:
- Explain real estate terms, practices and forms
- Assist in screening or viewing properties
- Prepare and present offers or counter-offers at the customer’s direction
- Inform customer about lenders and their policies
- Identify and estimate costs involved in a transaction
A customer relationship does not include agency duties of loyalty, disclosure and confidentiality.
|Seller's agent||Buyer's agent||Dual agency|
Remember: read all contracts and disclosure forms before signing. If you have questions about agency relationships contact your REALTOR®.