Understanding Agency...
Who Works For Whom?
Seller Agency (sub-agency)

• Agent will represent the best interests of the seller
• Agent will owe seller fiduciary duties
• Agent owes buyer honesty
• Must give buyer all material facts to make an educated decision

Buyer Agency

• Agent will represent the best interests of the buyer.
• Agent will owe buyer fiduciary duties

• Agent owes seller honesty

• Must give seller all material facts to make an educated decision

Dual Agency

• Agents represent both buyer and seller equally.
• Objective is to get a mutually satisfactory agreement among all parties.
• All options will be given to buyers and sellers.
• All parties may be present at contract presentation to negotiate on their own behalf.
• Confidentiality to all parties. Agent may do nothing to the detriment of either buyer or seller.
• Right to counsel. Before making any decisions, both parties have the right to seek family, religious, legal or financial counsel.

Next: Counseling


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Jim & Nancy, Wade & Teresa, and Joe Hermes
RE/MAX Results
5201 Eden Avenue
Minneapolis, MN 55436
612-221-0768
Wade@HermesMN.com

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