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April 10, 2012

Buying or Selling a Home

Real Estate Brokers

What is the real estate agent's role in a home sale?

Typically, two real estate agents are involved in the sale of the home-the listing agent, with whom the seller lists the property, and the agent who shows the property to prospective buyers.

For the buyer, it is important to keep in mind that both the listing agent and the agent showing properties are agents for seller. This means that both of these individuals work for and on behalf of the seller, not for the buyer. For a prospective buyer, this is an absolutely crucial point. It means, for example, that neither the listing agent nor the showing agent is permitted to disclose negative information to a buyer about the property-that is, information that is adverse to the seller's interest in selling the property.

As a buyer, you can avoid this information gap by hiring a buyer's agent. Because this individual represents you as the buyer, he or she will be required to disclose to you all relevant information-the bad as well as the good-about the property you are considering. In addition, a buyer's agent is there to negotiate the best possible purchase terms for you.

>>What is the real estate agent's role in a home sale?
>>What is the role of the seller's agents?
>>What is the listing agreement?
>>What fee will I pay on the sale of my home?
>>What other terms in the listing agreement are negotiable?
>>What legal protection do I have after signing a listing agreement?
>>Is the real estate agent liable if a potential buyer steals something from my home?
>>What can I do if my real estate firm doesn't seem to be working very hard to sell my home?
>>What is the fee relationship with a buyer's agent?

Practical Law Home | Buying or Selling a Home | Basics of Buying a Home
Basics of Selling a Home | Why Real Estate Is Covered By Special Laws | *Real Estate Brokers*
The Purchase Contract | Financing a Home Purchase | The Closing | The Fair Housing Act
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