AGENT FOR THE SELLER:
The licensee's company is working as
an Agent for the Seller
of the property and owes primary loyalty to the Seller. Even if the licensee is working with a
prospective buyer to locate property for sale, rent or lease, the licensee and
his/her company are legally bound to work in the best interests of any property
owners whose property is shown to this prospective buyer. An agency relationship of this type
cannot, by law, be established without
a Written Seller Agency Contract.
DESIGNATED AGENT FOR THE SELLER:
The individual licensee is working
as a Designated Agent for the Seller
in this consumer's
prospective transaction, to the exclusion of all other licensees in his/her
company. Even if someone else in this
licensee's company represents a possible buyer for this Seller's property, the Designated Agent for the Seller will
continue to work as an advocate for the best interest of the Seller. An agency relationship of this type
cannot, by law, be established without
a Written Seller Agency Contract.
AGENT FOR THE BUYER:
The licensee's company is working as
an Agent for the Buyer, and owes
primary loyalty to the Buyer, and will work as an advocate for the best
interests of the Buyer. An agency
relationship, of this type cannot, by law, be established without a Written Buyer Agency Contract.
DESIGNATED AGENT FOR THE BUYER:
The individual licensee is working
as a Designated Agent for the Buyer
in this consumer's transaction (or prospective transaction), to the exclusion
of all other licensees in his/her company. Even if someone else in this
licensee's company represents a seller in whose property this Buyer is
interested, the Designated Agent for the
Buyer will continue to work as an advocate for the best interest of
the Buyer. An agency relationship of
this type cannot, by law, be
established without a Written Buyer Agency
Contract.
DISCLOSED DUAL AGENT:
The licensee's company - or the
individual licensee has become a Disclosed
Agent for Both Parties in this consumer prospective
transaction. Because of loyalties owed
to Both Parties in the transaction, the licensee(s) involved in a Disclosed Dual Agency relationship must
become NEUTRAL and therefore cannot legally serve as an advocates or an advisor
for either Party in the transaction. An
agency relationship of this type cannot, by law, be established without a Written Agency Contract with Both Parties.
FACILITATOR or TRANSACTION BROKER
(Not an Agent for
Either Party):
The licensee's company is NOT
working as an Agent for either Party in this consumer transaction. This
licensee is therefore NEUTRAL and cannot serve as an advocate or advisor for
either party in the transaction. ( By
law, any licensee or company who has
not entered into a written agency agreement with either Party in the transaction
is considered a Facilitator or Transaction
Broker until such time as an agency agreement is established.)
CONFIDENTIALITY:
By
law, every licensee is obligated to
protect some information as confidential.
This includes any information revealed by a consumer which may be
helpful to the other party. IF it was
revealed by the consumer BEFORE the licensee disclosed an agency relationship
with that other party, any such information which the consumer THEN reveals
must be passed on by the licensee to that other party.