Agency Disclosure

 Traditionally, before a home is offered for sale, a brokerage relationship is created by written agreement between the seller and a real estate company, referred to as the listing broker. The listing broker then offers compensation to other real estate companies to help find a buyer for the property.  The company bringing the buyer and the sales contract is called the selling broker.  The selling broker can represent either the seller or the buyer. When both the listing company and the selling company are representing the seller, then they are acting as agent and subagent respectively.

 In today’s environment, buyers are demanding an alternative.  “Buyer agency” has evolved as an option in representation.  In a buyer’s agent situation, a written agreement creates a brokerage relationship between the buyer and the real estate company of his choice. The company and the salesperson are retained to find them a home. 

 When a buyer or a seller, enter a brokerage relationship with a real estate company, they become the clients of the company. The following are the duties of the Realtor®:

• Perform in accordance with the terms of the brokerage relationship
• Promote the interests of the client
• Maintain confidentiality of all personal and financial information received from the client
• Exercise ordinary care
• Comply with all Code of Virginia applicable statutes

 Besides subagency and buyer agency, there is also disclosed dual agency with dual representation or designated representation.  Dual representation occurs when a buyer and seller in one transaction are represented by the same broker and the same sales associate.  Designated representation occurs when a buyer and seller in one transaction are represented by different sales associates with the same broker.

 After a thorough discussion of all of your options, we can determine in which capacity I can best serve you.

Subagency - Both agents represent the seller

Buyer Agency - One agent represents the buyer and one agent represents the seller

Disclosed Dual Agency - One agent represents (limited) both the buyer & seller

Disclosed Designated Agency - Buyer and seller are represented by different sales associates but the same broker

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