Buyers and sellers often ask: Should I use a REALTOR® or not? Most folks often underestimate the value of Realtors and their importance in a real estate transaction. A real estate professional can be an invaluable asset on both sides of the deal, helping to keep the deal together and running smoothly.

Los Angeles Realtor Lee Dworshak says a Realtor can help you set your home up for success by helping you present your property in a way that will appeal to potential buyers.

“Realtors are indispensable when it comes to contracts and making sure each step is carried out to the seller’s best interest. For buyers, a real estate broker can be an incredibly helpful tool when looking for real estate. Not only does a competent Realtor know his local real estate market and what is available but he also knows the community, its amenities and all that it has to offer. A Realtor will write a contract when a buyer has found his ideal property and will help the buyer follow through with each step until closing.

Agency Relationships
Buyers and sellers are sometimes confused about the role of a real estate agent in their transaction. They may not understand exactly who the agent represents and real estate agency (broker) relationship. Many states demand that agents give buyers and sellers an ‘Agency Disclosure’ form to sign up front before a transaction is started or offer is written. This form is not a contract or an agreement, it simply disclosures the various types of possible agency relationships that may exist. It is very important that you read the disclosure to be better understand it and all that is involved in ‘Agency.’ In this way you will be able to determine what type of agency relationship will work best for you.

Single Agency vs. Dual Agency
Generally, buyers agents who represent buyers are operating in a single agency capacity as a buyer’s agent and seller’s agents who represent sellers are operating in a s...ingle agency capacity as a listing agent. Agents who represent clients under single agency owe a ‘fiduciary responsibility’ to their client. Agents are not allowed to share confidential information with the other party or the other party’s representative.

Single agency agents are bound to use care and due diligence while performing their duties, disclose all material facts and above all be honest. Buyer’s agents and the buyer sometimes sign a buyer’s broker agreement, which lays out the duties and obligations of the agent.

In some states, if buyers do not sign a buyer’s broker agreement with the agent, that agent does not represent the buyer but instead becomes a sub-agent of the seller. Sub-agents owe the same duties to the seller as the listing agent. Seller’s agents and the seller sign a listing agreement, which also lists the duties and obligations of the agent.”

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