Selecting an Agent
Purchasing a home or property is one of the largest investments most people ever make. One key decision you'll make during this emotional process is choosing the real estate professional to represent your interests. At Center Hill Realty we have a team of agents who can help and guide buyers and sellers through every step of a real estate transaction. They are members of the National Association of Realtors®, trained and committed to its strict code of professionalism and ethics.
But whether you hire us, or any other company, it's important you understand the different types of agency relationships that exist, and how each impacts the kind of service and information that agent provides. Here in Tennessee, real estate professionals are required to inform you in writing, what, if any, formal agency relationship they have with a buyer or seller, before formal negotiations can begin.
Agency relationships take three forms, and agents are paid a fee or commission for their services, based on the sales price:
A seller's agent, as the label implies, has signed a contract with the owner/seller of the property to market that listing and put the seller's interests first in all negotiations. Their obligation to interested buyers is to be fair, honest and forthcoming with information about the property, but they are always working for the seller.
A buyer's agent, on the other hand, has signed a contract to assist the buyer in finding appropriate property, negotiating the sale as their representative, and advising them on steps they should take to protect their interests as the transaction progresses from contract to closing.
A transaction broker, or disclosed dual agent, can represent both the buyer and seller in the same transaction, provided both parties have been informed in writing and accept this arrangement. Often, this develops when an interested buyer contacts the listing agent, is willing to meet the seller's terms, and is confident in the skills and professionalism demonstrated by the agent to entrust him or her to represent both parties in this sale.
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