The most common agency relationships are that of Buyer's Agent, Seller's Agent and Dual Agent. 

    The Buyer's Agent represents the Buyer in the real estate transaction.  The Buyer is the Client in this relationship, and the Buyer's Agent has the following  responsibilities to the client:  loyalty, disclosure, confidentiality, obedience, reasonable care and diligence, and accounting for all funds.   If  you are not represented as a Client, you are a Customer. 

     As of July 1, 2000  Georgia law requires a written agreement between the real estate broker/agent and a Buyer Client.   A Buyers Agency agreement establishes that your agent represents you in the search and purchase of a home, and you agree to work only with that agent.   This agreement can be for one day, a week, a month, or any period of time.   If you enjoy visiting Open Houses or new home communities on the weekend, be sure to inform the host agent that you have a Buyer's Agent.

    The Seller's Agent represents the Seller in the transaction, and the Seller is the Client.  The Seller's Agent has the same fiduciary responsibilities to the Seller as the Buyer's Agent has to the Buyer.  The client relationship is established through a Listing Agreement, in which the term and all conditions of the listing are determined.

    A Dual Agent is an agent who represents both the Buyer and Seller in a  single transaction and has a fiduciary responsibility to both parties.  This will happen if the Listing Agent sells his/her own listing to a Buyer Client.   Occasionally, an agent may work as a Transaction Agent, handling the paperwork but not representing the Buyer or the Seller.

    Whether representing the Buyer or Seller, the real estate agent must treat all parties in the transaction professionally, honestly, and must disclose known facts that may affect the value or condition of the house. 

    Real Estate Commission generally is paid by the Seller to the Listing Broker.

        If there is a second agent involved in the sale, for instance a Buyer's Agent,  half of the commission is paid by the Listing Broker to the Selling Broker.  In a typical transaction of a resale home, the total commission would be 7% of the selling price, with 3.5% going to the selling broker and 3.5% to the listing broker, although commission is negotiated with the seller at the time of listing.  This commission is paid to the Broker and  not the agent.  The agent is paid by the broker in accordance to his/her broker contract.

       Finally,  every licensed real estate agent is not a REALTOR®.  Make sure your agent is a member of the National Association of Realtors® and the Georgia Association of REALTORS®.

Q 
Who pays the real estate broker? 

A 
Generally, the real estate commission is paid by the Seller to the listing agent.  If the Buyer is represented by a Buyer's Agent, the commission is split between the two real estate companies. 
 

Q
Who pays for the marketing and multiple listing fees for a listed home?

A
Typically, the Listing Broker or Agent pays all marketing costs.  In new home communities, the Builder often pays for marketing.
 

Q 
How can a Buyer's Agent help me in my home purchase? 

A
Although real estate agents use many marketing vehicles, including home magazines, 
multiple listing services and others,  home availability changes from one minute to the next.  A real estate agent can check new listings based on your criteria, find additional information and  and verify availability before touring the home.  Keep in mind that certain counties and cities, including Gwinnett County, Duluth, Alpharetta, and Decatur, prohibit real estate directional signs, so it is very difficult to drive around and and find homes for sale.

When it's time to make an offer, your agent can check neighborhood sale history and  the tax records for the home to determine the fair market value.  We will negotiate your contract, always keeping your  interests in mind.   After your contract is accepted, your agent will guide you through the process of loan application,  home inspecion and
closing. 
 

Q
What are a Buyer's responsibilities under a Buyer's Agency Agreement?

A
Actually, a Buyer's Agency Agreement can be for any period of time, from one day to one year or beyond.  As a Buyer's Agent, I typically will show you properties listed by a real estate company agreeing to co-op, or a "For Sale By Owner" for which I have a written agreement with the Seller.    If you purchase a home you found through my efforts, the listing broker will split the commission with my broker, RE/MAX Professionals. 

If you find a listed home through my efforts and purchase it with my assistance, you will never be obligated to pay a real estate commission to Residential Brokers Professionals. 
 

Q 
Is every real estate agent a REALTOR® ? 

A 
No.  Only agents belonging the National Association of REALTORS®, a professional organization,  are REALTORS®.     REALTORS®  are held to a strict code of ethics.