Getting the Most from Your Real Estate AgentWho is the agent working for? There are 3 types of real estate agents. Listing agent: This agent works for the seller. The listing agent is legally obligated to look after the best interests of the seller, and to get the best price for their property. Buyer’s Agent: A buyer’s agent works for the buyer. Their responsibility is to negotiate on the behalf of the buyer, putting their needs first and foremost, to negotiate the best deal for them. Dual Agent: A dual agent is a listing agent who also finds a buyer for the property. In this case the agent is negotiating for both the seller and the buyer. There is nothing wrong with this scenario in a legal sense; however, the agent is working for both parties and must take into consideration the interests of the buyer and the seller. There is no benefit to the buyer with this scenario. The commission paid in the transaction will be the same, and no percentage will be deducted from the selling price. NEXT: How Do I Choose a Real Estate Agent? |