What does agency mean?

In South Carolina, we give our clients a document explaining agency. I tell my clients right now you are just a customer. As a customer, I cannot give specific advice about offers and negotiations. As a client, I will represent you professionally and ask you to sign an Exclusive Buyer Agreement to hire me as your Realtor. As a client, I owe you confidentiality and a fiduciary responsibility to represent you to the best of my ability. In the agency situations below, you are acting as the buyer.

Normal Agency

This situation is the most common. Your Realtor is working for a different brokerage than the seller's Realtor. There is not a conflict of interest.

Designated Agency

This situation would occur if your Realtor and the Seller's Realtor both work for the same brokerage. It may not be in the same office, but still needs to be disclosed.

Dual Agency

This situation will happen if you, the buyer, are using the Realtor who is also the listing agent. This means the Realtor will be representing you and the seller. This must be disclosed, if you do not feel comfortable with this situation, you may ask for another Realtor.

Don't feel obligated to use a specific agent. Any Realtor with any brokerage can open any home in your area. When you find the right Realtor, they will ask you to sign an exclusive buyer agreement that will let them represent you as a client. Even though you have a signed agreement with an expiration date, you should know you can terminate the agreement at any time. If you decide you don't like your Realtor, know that you can terminate the buyer agreement but make sure you get it in writing.