Listed below are the duties that different types of agents should provide to Buyers they are working with. The vast majority of agents today work as Dual Agents. Some agents work as Exclusive Buyers' Agents. Other types of agency are extremely rare.
(Y) Services that the agents should provide to Buyers. Since Exclusive Buyers' Agents work only for the Buyer, they can provide 100% representation all the time. Traditional Dual Agents can provide 100% representation as long as they do not represent the Seller of the property.
(N) Services that agents should not provide to Buyers. Traditional Dual Agents cannot provide 100% representation to Buyers on their own listings since they are already representing the Seller.
(S) Services that agents may be able to provide to Buyers. Traditional Dual Agents can provide all the services of an Exclusive Buyer's Agent as long as they are not representing the Seller as well.
By Beverly D. Roman
|Services Provided||Dual Agent working for Seller||Dual Agent working for Buyer||Exclusive Buyers' Agent (Buyers only)|
|Arrange property showing||Y||Y||Y|
|Explain financing options||Y||Y||Y|
|Provide accurate information||Y||Y||Y|
|Explain forms and agreements||Y||Y||Y|
|Prepare a property value study||N||Y||Y|
|Keep your position confidential||N||Y||Y|
|Promote and protect your best interest||N||S||Y|
|Negotiate the best price and terms for you||N||S||Y|
|Pass on information that may enhance your bargaining position||N||S||Y|
|Assists in writing an offer with your best interests in mind||N||S||Y|
|Expose you to both MLS listed and unlisted properties||N||Y||Y|
|Provide anonymity if needed||N||Y||Y|
|Research the Seller||N||S||Y|
|Research the Property||N||Y||Y|