Richlands NC Real Estate Agency

Agency in a real estate transaction is basically who represents whom. In North Carolina real estate agents are required to disclose what their agency affiliation is with two main tools.

Richlands NC Real Estate

The first tool you will see is called Working with Real Estate Agents Disclosure.
The Agency Disclosure brochure is a tool you will sign stating that you have received a copy of the agency information contained in the brochure. This brochure gives an overview of the different types of agency that is available. This is not a binding contract.

The second paperwork you may see is called a Buyers Agency Contract or in the case of selling a home, a Exclusive Right to Sell (Listing Contract).

With both of these items you are telling the real estate agent that you want them to work for and represent you.

Dual agency is also a type of agency that you may see if you come across a property that you want to make an offer on and it is listed with the company your agent is affiliated with. Also on the other side of the transaction, if you have a property listed with a agent and either they or one of their affiliated agent have a buyer for your property you may see a case of dual agency. In this capacity the agent will act on behalf of both the buyer and seller as a facilitator. They are not allowed to divulge confidential information to either party about the other.

Sellers Agency is when the agent only represents the seller. Generally this will be the situation of a seller with one company represented by their agent and a buyer purchasing through another company represented by their agent. This can also be the case of a buyer looking at a property with a agent that only represents the seller. In this situation the buyer has no representation. Seller agency is commonly represented when a real estate agent has a property listed for sale. The Listing agent represents only the sellers interest.

Buyers Agency - A agency relationship where the buyer is represented by the real estate agent in the transaction. In order to enter into this relationship you will be required to sign a Buyers Agency Contract.

If you have any questions or would like someone to contact you about purchasing a home in the Richlands, NC area, please contact us today.