Today, we’re covering buyer’s and seller’s agency and the different types of agency agreements with real estate agents in the surrounding Denver area.
An agency agreement essentially accounts for the relationship a Realtor has with a client. For instance, similar to an attorney, a real estate agent represents your best needs and interests, as if they were fighting for your case. A Realtor represents your voice in a transaction. There are different kinds of agency agreements. There are seller’s agents, buyer’s agents, and transaction brokers.
Typically, buyers hire buyer’s agents to serve their best interests in a transaction to ensure they’re getting the best bargain. Oftentimes, people ask if they need to pay an agent or if they need to sign up with an individual agent exclusively. Ultimately, it comes to whatever the buyer’s agency agreement states.
Secondly, sellers hire seller’s agents to maintain a similar relationship that buyers have with buyer’s agents. Instead of advocating for the buyers, though, they’re negotiating for the people trying to sell their home. A listing agent helps negotiate offers and markets their property.
Next, we have a transaction broker, or a neutral third party working through the closing process and facilitating the transaction. We don’t see them as often, but we do utilize them from time to time when necessary. This role definitely benefits certain kinds of transactions, such as with rental properties.
If you’re thinking about buying or selling a home in the local area, give me a call or send me an email. We’d be happy to work with you and serve your best real estate interests!