Seller Representation
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When a Real Estate Brokerage represents a Seller, it must do what is best for the seller of a property.
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A written contract, called a Listing Agreement, creates a agency relationship between the Seller and the Brokerage and establishes Seller Representation. It also explains services the Brokerage will provide, establishes a fee arrangement for the REALTOR's services and specifies what obligations a Seller may have.
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A Seller's Agent must tell the Seller anything known about a Buyer. For instance, if a Seller's Agent knows a Buyer is willing to offer more for a property, that information must be shared with the Seller.
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Confidences a Seller shares with a Seller's Agent must be kept confidential from potential Buyers and others.
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Although confidential information about the Seller cannot be discussed, a Buyer working with a Seller's Agent can expect fair and honest service from the Seller's Agent and disclosure of pertinent information about the property.