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How can we best
serve you?
When real estate professionals work with sellers and buyers, “agency” relationships
are established. As you start working with a Prudential One Realty
Associate, please ask for a clear explanation of current agency
laws in Indiana and Michigan, so that you understand these important
issues.
There are three kinds of agency relationships:
- Seller’s Agent
A “seller’s agent” represents the interests of
the sellers and has a fiduciary responsibility of reasonable care,
loyalty, confidentiality and disclosure to the seller. A seller’s
real estate professional (agent) works to assist the seller in
locating a buyer and in negotiating a transaction suitable to the
seller’s specific needs.
- Buyer’s Agent
A “buyer’s agent” represents the buyer during
the home buying process. The buyer’s real estate professional
(agent) has a fiduciary responsibility to represent the buyer’s
best interests including reasonable care, loyalty and confidentiality.
- Disclosed
Dual Agent or Limited Agent
A “disclosed dual agent or limited agent” represents
the interests of both the seller and the buyer, during the
same transaction. A dual or limited agent has responsibilities
to both
seller and buyer and must act in the best interests of both
parties.
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