All parties involved in a real estate transaction and their agents must be given timely and clear disclosure of agent's agency relationship(s), in writing if required by law. There are four types of agency relationships.

Seller Agency

• Works for the sellers.
• Has the duties of a fiduciary to the sellers including 100% loyalty, confidentiality, obedience,care/diligence, disclosure and accountability.
• Has a duty to the buyers of fair and honest treatment.

Subagency

• Works with the buyers as a subagent of the listing agent.
• Has a duty to the buyers of fair and honest treatment.
• Has the duties of a fiduciary to the sellers, including 100% loyalty, confidentiality, obedience, care/diligence, disclosure and accountability.

Buyer Agency

• Works for the buyers.
• Has the duties of a fiduciary to the buyers including 100% loyalty,confidentiality, obedience, care/diligence, disclosure and accountability.
• Has a duty to the sellers of fair and honest treatment.

Dual Agency

• Works for both the the buyers and for the sellers as a dual agent.
• Must have fully informed written consents of both parties.
• Is a limited agency in the sense that the fiduciary duties normally owing to clients must nessarily be limited if owing to both buyers and sellers, especially the duties of 100% loyalty and full disclosure.

What does this all mean to you?

If you are buying a home and have not signed a buyer agency contract with a REALTOR then that REALTOR is working for the seller.

Buyer agency, in most cases, does not cost you anything. Most brokers cooperate with buyer's agents, the same way they always have & split the commission with them.

Buying a home is a complicated and emotional transaction. Everyone deserves representation!