Seller Representation
1. When a real estate brokerage represents a seller, it must do what is best for the seller of a property.
2.
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.
3. 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.
4. Confidences a seller shares with a seller's agent must be kept confidential from potential buyers and others.
5. 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.