Let's talk about Real Estate Agency. In traditional Real Estate Agency the Broker always represented the Seller (even when helping a Buyer). This is referred to as Sub-Agency and under Sub-Agency, the Broker only owes the Buyer honesty, fairness, disclosure of material facts regarding the property of interest, and to refrain from deceptive/unfair trade practices. The Buyer is a Customer, not a Client (see previous post about the difference). The bottom line is that the Broker represents the Seller and under the law of agency, is working in the best interest of the Seller. Sub-Agency exists today. However, Village Realty does not practice Sub-Agency nor cooperate with Sub-Agents for the sale of property listed with Village Realty. It is Village Realty's belief and commitment that ALL deserve appropriate representation in a real estate transaction and I totally agree with this.
Agency has changed significantly over the last couple of decades with the introduction of the on-line Multiple Listing System (MLS) and Buyer's now wanting appropriate representation.
More on Buyer Agency and Dual Agency in future posts. As always, please feel free to ask questions. A good consumer is an educated consumer. And as I said before, you need to understand when you represented and when you are not!