When buying or
selling real estate, you may find it helpful to have a real
estate agent assist you. Real estate agents can provide many
useful services and work with you in different ways. In some
real estate transactions, the agents work for the seller. In
others, the seller and buyer may each have agents. And
sometimes the same agents work for both the buyer and the
seller. It is important for you to know whether an agent is
working for you as your agent or simple working with
you while acting as an agent of the other party.
This information has been taken directly from the NCRC booklet
"Working with Real Estate agents"
how we target the buyers and find you results in selling your
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If you are selling real estate, you may
want to "list" your property for sale with a real estate
firm. If so, you will sign a "listing agreement" authorizing
the firm and its agents to represent you in your dealings
with buyers as your seller's agent. You may also be asked to
allow agents from other firms to help find a buyer for your
Be sure to read and understand the listing
agreement before you sign it.
The listing firm and its agents must
promote your best interests be loyal to you follow your
lawful instructions provide you with all material facts that
could influence your decisions use reasonable skill, care
and diligence, and account for all monies they handle for
Once you have signed the listing agreement, the firm and its
agents may not give any confidential information about you
to prospective buyers or their agents without your
permission. But until you sign the listing agreement, you
should avoid telling the listing agent anything you would
not want a buyer to know.
To help you sell your property, the
listing firm and its agents will offer to perform a number
of services for you. These may include
- helping you price your property
- advertising and marketing your property
- giving you all required property
disclosure forms for you to complete
- negotiating for you the best possible
price and terms
- reviewing all written offers with you
- otherwise promoting your interests.
For representing you and helping you sell your property,
you will pay the listing firm a sales commission or fee.
The listing agreement must state the amount or method for
determining the commission or fee and whether you will
allow the firm to share its commission with agents
representing the buyer.
You may even permit the listing firm
and its agents to represent you and a buyer at
the same time. This "dual agency relationship" is most
likely to happen if an agent with your listing firm is
working as a buyer's agent with someone who wants
to purchase your property. If this occurs and you have
not already agreed to a dual agency relationship in your
listing agreement, your listing agent will ask you to
sign a separate agreement or document permitting the
agent to act as agent for both you and the buyer.
It may be difficult for a dual
agent to advance the interests of both the buyer and
seller. Nevertheless, a dual agent must treat
buyers and sellers fairly and equally. Although the
dual agent owes them the same duties, buyers and
sellers can prohibit dual agents from divulging certain
confidential information about them to the other party.
Some firms also offer a form of dual
agency called "designated agency" where one agent in the
firm represents the seller and another agent represents
the buyer. This option (when available) may allow each
"designated agent" to more fully represent each party.
If you choose the "dual agency"
option, remember that since a dual agent's loyalty is
divided between parties with competing interests, it is
especially important that you have a clear understanding
- what your relationship is with the dual
- what the agent will be doing for you in
The North Carolina Real Estate
P.O. Box 17100
Raleigh, North Carolina 27619-7100
Murphy real estate, and
homes for sale,
land for sale and other
real estate for sale in
Clay County, and neighboring communities.