Who does the Real Estate Agent Represent?

This is an area that causes much confusion in real estate transactions.  For example; Do you understand that when you agree to or choose a Dual Agent Representation that the Agent or Realtor is a Facilitator and can not provide important advice that may save you money or assist in assuring your current and future interests are protected?

EBA - EXCLUSIVE BUYER AGENT

• Works only for the buyer and will not be a "Dual Agent" in a buyer's Transaction when working for the Buyer.  When they have a pre-owned home listed that you want to purchase or don't feel dual agency is appropriate or after discussion, wanted, they will ask another agent to represent you or the seller to ensure your rights are protected. A Buyer/Broker Agreement will be signed.  The only way for a buyer to be guaranteed 100% representation if that is what they feel is necessary.

SA - SELLER'S AGENT

• Also known as "listing agent". This is the agent whose name is on the sign. Legally obligated to represent the seller's interests. Duty is to get the highest price and best terms for the seller, maintain seller's confidentiality and research and disclose all known information about prospective buyers. Seller is "client", buyers are "customers".

BA - BUYER AGENT

• An agent retained by the buyer to represent the buyer's interests. Requires an agreement of the parties for agent to represent the buyer - not all agents who show homes to buyers represent them! Duty is to locate the right home for the buyer, and negotiate on buyers' behalf for best price and terms, maintain buyer's confidentiality and disclose all known information about the THE HOME to the buyer, but any personal information about the seller, such as need to sell, divorce or lowest price they will accept is not to be shared. Buyer is "client", sellers are "customers".

DA - DUAL AGENT

• whenever the agents for the seller and the buyer work for the same real estate company, or "broker", they BOTH become DUAL AGENTS. Neither buyer nor seller are fully represented. "Designated agency" is a form of dual agency. Liken this to attorneys not representing both sides in the same court case - when they work with both sides they are conducting "mediation" - helping the parties reach their own agreements, but not going to bat for either one.

Which would you prefer?

Let us know your objectives and we will identify the appropriate representation.

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Courtesy of First Class Properties, Inc.

15575 Los Gatos Blvd., Suite C

Los Gatos, CA  95032