What is seller's agency?

SELLER’S AGENCY

Seller's agency refers to a type of real estate brokerage relationship where a real estate agent represents the seller in a real estate transaction. In this relationship, the seller's agent owes a fiduciary duty to the seller, which means that they are obligated to act in the seller's best interests, including providing them with honest and objective advice, marketing their property effectively, and negotiating on their behalf.

When working with a seller's agent, the agent's primary responsibility is to help the seller sell their property for the highest possible price in the shortest amount of time. The agent will typically conduct a market analysis to determine the fair market value of the property, develop a marketing plan to promote the property to potential buyers, and facilitate property showings.

Once an interested buyer is identified, the seller's agent will help the seller navigate the negotiation process. This may involve reviewing and negotiating the terms of the contract, ensuring that all necessary paperwork is completed properly and on time, and facilitating any necessary inspections or repairs.

In exchange for their services, the seller's agent typically receives a commission from the seller, which is typically a percentage of the sale price of the property. This commission is typically split between the seller's agent and the buyer's agent.

Overall, working with a seller's agent can be highly beneficial for anyone looking to sell their property, as it can provide them with valuable guidance and support throughout the entire selling process. By having someone who is dedicated solely to their interests, sellers can feel more confident and secure in their decision-making, which can ultimately lead to a more successful and satisfying real estate transaction.