WHAT IS AGENCY?
A Few Helpful Distinctions:
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The terms customer and client are not interchangeable. Customers can be anyone I interact with to discuss real estate. Becoming a client means that we have entered into a written agency agreement.
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Not all real estate agents are REALTORS®. I am a REALTOR®, which means I belong to the National Association of REALTORS, and therefore, must uphold the REALTOR Code of Ethics!
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Seller’s agency occurs between a REALTOR® and a seller. It is a written agreement signed by both parties. The REALTOR® lists the property on the multi-list service (MLS), and coordinates all aspects of the sale, based on the seller’s needs.
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Buyer’s agency occurs between a REALTOR® and a buyer. It is a written agreement signed by both parties. The REALTOR® represents the client and has fiduciary duties to the client.
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Dual agency occurs when the REALTOR® represents both the buyer and the seller. Missouri allows dual agency as long as it is disclosed to all parties, and all parties agree in writing.
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What’s next? Read the client pledge - my personal code of ethics.