Realtors provide expertise in constantly changing market conditions to help buyers make the right offer on the right property.
When hiring a Realtor to assist in your real estate transaction, it’s important to note how you will be represented.
- Exclusive buyer agency: In this case, the buyer (or seller!) hires an agent to represent him/her exclusively.
- Designated agency: This occurs when both agents in a given transaction work for the same company. Both buyer and seller are still exclusively represented by their agent, but the brokerage firm (i.e., the real estate company) will be considered a designated agent representing both parties.
- Dual agency: Dual agency happens when only one Realtor is part of the transaction, representing both the buyer and the seller. In this case, the agent cannot advise either party throughout the transaction, only provide the necessary documentation and information to be passed from one party to another. Although dual agency is practiced and legal in Virginia, here at Liz Moore and Associates we believe the best way to protect and represent our clients is through exclusive representation.
Know how your agent is representing you!
Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or firstname.lastname@example.org. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.