Buyer’s Agent – When a REALTOR® is a buyer’s agent, he or she must do their best for the buyer. A written contract establishing this relationship will explain the services to be provided and spell out if any special fees will be paid. It will also specify what obligations a buyer may have, such as working with the REALTOR® for a specified period of time.
Limited Dual Agent – Occasionally, a REALTOR® will act as the agent for both the buyer and seller. Since the REALTOR® has promised a duty of confidentiality, loyalty and full disclosure to both parties at the same time, it is necessary to limit these duties in this situation if both parties agree. If you find yourself involved in a dual agency relationship, before making or receiving an offer both you and the other party will be asked to consent in writing to this new, limited agency relationship.
The REALTOR® will explain fully what kind of information he or she can and cannot disclose to the other party.