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“Listing Agent” - Agent representing the seller in the marketing and sale of real estate. The listing agent and seller have signed a “listing agreement” which ensures the listing agent a commission when the property is sold.

“Selling Agent”
Or “Sub Agent” - Any other real estate agent who shows the seller’s property to prospective buyers, selling agent is always representing the seller’s interests, not the buyer’s

“Buyer’s Agent” - Agent that represents the buyer’s best interests, not the seller’s, and assists the buyer throughout the entire real estate transaction.

Buyer Agency

Why Use A Buyer’s Agent?

The purpose of a Buyer’s Agent is to protect and represent the buyer’s best interests at all times, not the sellers. A buyer’s agent commits to fulfill these fiduciary responsibilities to Buyer Clients:
o Undivided Loyalty – prohibits the agent from advancing any interests adverse to the client’s interest or conducting the client’s business to benefit a customer, a subagent, the agent or any other interests to the detriment of the client.
o Obedience – requires the agent to act subject to the client’s continuous control by not exceeding the scope of authority conferred by the principal and by obeying and following all lawful instructions.
o Reasonable Care and Diligence – requires the agent to protect client from foreseeable risks of harm and recommend the client obtain expert advice or assistance when a client’s needs are outside the scope of the agent’s expertise.
o Confidentiality – Prohibits the agent from communicating personal information about the client that was given to or acquired by the agent within the scope of employment as an agent to the client. Personal information must be kept confidential unless the client releases the agent or subagent from this duty.
o Full Disclosure – Requires the agent to disclose affirmatively all information concerning the transaction which might affect the client’s decision(s).
o Accounting – Requires the agent to promptly report to the client all money and property received and paid out, and upon request, to render an accounting. Also requires the agent to safeguard money or property held on the behalf of the client.

Exclusive Buyer Agency
Why Hire An Exclusive Buyer Agent?

The purpose of an exclusive buyer agency agreement is to establish an exclusive
partnership for a buyer and a buyer’s agent. The buyer agrees to work exclusively with the buyer’s agent, and the buyer’s agent agrees to provide comprehensive services to the buyer during the entire real estate purchase transaction. Just as sellers sign a “Listing Agreement” to hire an exclusive listing agent, the exclusive buyer agency agreement establishes a similar partnership for buyers and buyer’s agents. There are benefits to this partnership relationship for both the buyer and the buyer’s agent:

Benefits to Buyers:

   One dedicated Buyer’s Agent who will represent your best interests at all times, not the seller’s. Working with one agent minimizes wasted time and redundancy experienced when working with several different agents in the same market area.
   Commitment from the Buyer’s Agent to work for you in the town(s) designated and utilizing all of the methods designated for property search in the agreement.
   Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications
   Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met
   Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property
   Advise the buyer on structuring an acceptable offer to purchase the selected property that meets the buyer’s needs
   Present the offer to the seller's agent and the seller on the buyer's behalf
   Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind
   Assist in securing appropriate financing for the selected property
   Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed
   Most importantly, fully-represent the buyer throughout the real estate transaction

Benefits to Buyer’s Agent:

   Commitment from the buyer that the buyer will work exclusively with the buyer’s agent should the buyer decide to purchase a property.
   Ensures the agent will receive compensation for all services delivered in the form of the commission if and when the buyer purchases a property.
   A partnership relationship with the buyer during the entire real estate purchase transaction.

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  Home Buying Glossary
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  Visiting Open Houses - Helpful Hints
 Negotiations
  Why Hire A Buyer's Agent?