Your real estate agent has a legal obligation of a buyer's agency or a seller in the contract negotiations.
Your best interests are the absolute priority and you need to know how these interests are protected. If you are from Schomberg and planning to get your dream home then you can take help from the reliable Schomberg real estate to find your dream home.
The first thing you should ask your real estate agent is the relationship of their agency with you and their brokerage business.
– Buyer Representative (Buyer Broker, Buyer Agent) – A real estate license holder hired by a potential buyer to represent them exclusively for the purchase of real property.
The licensee has a fiduciary duty to the buyer and will always be exclusively the buyer and negotiate the best price and the terms of the buyer.
It's almost always a free service for the buyer because the commissions are paid by the seller of the property.
The agency's relationship is generally created by an "exclusive buyer-broker job agreement.
– Seller's representative (Registration Officer, Vendor Officer) – A licensee hired by a potential vendor to represent them exclusively in the sale of real estate.
The real estate license has a fiduciary duty to the seller and will always be exclusively the seller and negotiate the best price and the terms of the seller. This agency relationship is created by a listing contract.
– Sub-agency – This type of agency was commonplace but progressively progressed. A subagent owes a duty of fiduciary equal to the buyer and the seller.
The sub-agent for all inventions and objectives represents the buyer as a buyer client and not to a buyer client because of the fiduciary obligation to the seller and the list of brokers.