Realty Life Ltd., Brokerage
Independently owned and operated
As a Customer the buyer can expect to be treated fairly and honestly. It is important for the buyer to realize that under such a relationship the REALTOR is technically a sub-agent of the seller so that duties are owed to that seller. However, the buyer can expect the REALTOR to disclose all pertinent information about a property, not to misrepresent any facts, and to honestly answer all questions about the property. Under such relationship with the buyer, the REALTOR must not must not imply that they shall negotiate a price for the buyer as that would be a direct conflict with the REALTORs sub-agency relationship with the seller and a violation of our rules and regulations.
A seller must understand that a REALTOR working with a buyer as a sub-agent is ultimately working with the sellers best interest in mind. A REALTOR working with a buyer, as a Buyer Agent, is working for the buyers best interest mind, but may still be compensated by the seller through provisions made to the Listing Agent.
Occasionally a real estate company will be the agent for both the buyer and the seller. The buyer and seller must consent to this arrangement in their listing and buyer agency agreements. Under this multiple representation arrangement, the company must do what is best for both the buyer and seller.
Since the companys loyalty is divided between the buyer and seller who have conflicting interest, it is absolutely essential that a multiple representation relationship be established in a written agency agreement. This agreement specifically describes the rights and duties of everyone involved and any limitations to those rights and duties.