WHAT IS AGENCY

In a real estate transaction, there are only two possible relationships you can have with your Realtor; they can either be your designated agent or you can be an unrepresented party.

Buyer’s Agent – This agent is representing the interests of his client, the Buyer, with written permission to do so. This agreement is called the Buyers Representation Agreement.

Seller’s Agent – This agent is representing the interests of his client, the Seller, with written permission to do so. This agreement is called the Listing Agreement.

Unrepresented Party – Best described as an individual to whom the Realtor owes no duty of Agency. They are not represented by the Realtor in respect of the trade in real estate, and while they must be honest with the unrepresented party, they not necessarily working in the interest of the unrepresented party.