What is a Sellers Agent?
A seller's agent or listing agent is the works for the seller. If an real
estate agent shows you one of his listings chances are the agent you are working
with will be a seller's agent or subagent. A seller's agent is required by law
to represent the interests of the seller. SELLER'S AGENTS ALWAYS REPRESENT
THE SELLER.
A seller's agent or subagent can show you the types of homes you're interested
in, discuss the physical conditions of each, present any offers you make to the
seller, and provide you with information about financing, inspection services,
attorneys, title companies, and related services.
Seller's agents are paid through the commission the seller is charged when the
house is sold. As a buyer, you don't directly pay a seller's agent. But you pay
indirectly, since the commission is built into the price of the home, which you
do pay.
Because a sellers agent works for the seller, the agent cannot legally provide
you with any information when it's not in the best interest of the seller to do
so. An example is the price the seller may be willing to accept for the home.
Likewise, a seller's agent must disclose to the seller any information that you
share with him, however confidential you think it might be, such as the price
you ultimately would be willing to offer for the house.
Because of these limitations, a new kind of agent has recently
come into existence: the buyer's
agent.