Representation and Payment
Realtors representation and payment are two separate and
distinct issues.
Realtor Payment
Either Buyer or Seller can pay for real estate Services.
It is not related to which party the Realtor represents. Normally, the Seller
pays the real estate brokerage fees. Seller authorizes Selling Realtor to accept
contracts from Buyer's Agents (Realtors), Subagents (because of liability
becoming more rare), or Intermediary Agents.
Realtor Representation
1. Representation of a party establishes a fiduciary duty to
that party. In other words a Realtor owes their best effort to the person
that the Realtor represents.
2. Law requires the relationship between Realtor and Buyer be
contractually defined prior to any services rendered by Realtor.
3. If no contract exists between Realtor and Buyer, the
law requires that Realtor represent only the Seller.
Information About Brokerage Services describes
the relationships between Realtor and Buyer in more detail.
A standard Buyer's Representation Agreement is one that most
Realtors will ask you to sign in order to clarify representation.
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