A seller's agent owes fiduciary and legal duties to their client:
- Obedience to client's lawful instructions
- Loyalty to client's interest above their own
- Disclosure of all material and pertinent facts
- Confidentiality regarding client's motivation, urgency, financial position or personal situation
- Accounting for client's money, paperwork and pertinent dates
- Reasonable skill and due diligence
A seller's agent will represent the seller's interests when the buyer is represented by another agent in our company or another firm.
When your agent has your property listed for sale, he or she may also represent a buyer who wants to make an offer on your property. In this case, the agent would have two clients in the same transaction and have a higher form of responsibility. The seller will be advised in advance if this is the case and will be asked to give written informed consent for Dual Agency. Items identified by law remain confidential, both parties will receive honest, fair and equal treatment, including market information and all material facts.
A seller's agent cannot:
- Make any decisions for you
- Promise to sell your property for more than the probable sales price range as demonstrated by the comparable market analysis, or "CMA"
- Hide or misrepresent any material facts or defects about your property
- Discriminate in any way or violate Federal Fair Housing Laws
- Collect a rebate from a service provider in your transaction without your agreement
What a seller's agent can do is provide their sellers with sources of information so that they can make their own personal and family decisions.