-- Select State -- Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Dist of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming International

All states require that real estate agents be licensed, and most recognize four types of real estate agents, all of whom offer different, and often conflicting, services. These four types of agents are listed and described below. No states, however, require that licensed agents be members of the National Association of REALTORS® (NAR)*. Only members of the NAR can display the REALTOR® * logo on their business cards or other advertising materials. Buyers' Agents represent the buyer - - - never sellers. A Buyers' Agent's total focus should be on assisting the buyer in getting the best price and the best terms for the buyer. By utilizing the services of a Buyers' Agent, all area homes are available to homebuyers without bias, including Multiple Listing Service (MLS) properties, those offered "For Sale By Owner" and new construction by homebuilders - - - even those in developments with their own sales office. Buyer's Resource International reports that Buyers' Agency "has resulted in an average of over 5% savings and greater satisfaction for homebuyers." While most do not, some Buyers' Agents may require clients to sign a Buyers' Agency Agreement. It is up to the buyer to determine whether or not such an agreement is in his or her best interests. Sellers' Agents list property, and always represent the seller. Sellers' Agents are legally obligated to get the highest price and best terms for the seller. If you are selling a home, you might want to insist that the agent represents you as a Sellers' Agent only. Almost all Sellers' Agents require sellers to sign a Listing Agreement authorizing their firm and other firm agents to represent sellers in dealings with buyers. Because they represent sellers exclusively, Sellers' Agents are required to share any information they have regarding a prospective buyer, such as financial or personal data, which could potentially increase the cost of a home to a buyer. A buyer should, therefore be very careful what information he/she shares with a Sellers' Agent. Dual Agents are real estate agents whose company lists property for sale, but can say they represent buyers on those particular properties. Because a Dual Agent represents both the buyer and the seller equally, this agency relationship can result in the overlapping of responsibilities, and buyers and sellers alike should consider the ramifications carefully before utilizing such services. Should a buyer or seller choose a Dual Agent, it is especially important that a clear understanding be had up front as to their relationship and the services to be provided by the agent. Designated Agency - Some states and some firms allow what is known as Designated Agents, where one agent in the firm represents the seller and another agent represents the buyer. In this case, neither agent shares in the other agent's commission earnings. This option, when available, may allow each Designated Agent to more fully represent each party.

* The term REALTOR® is a registered trademark of the National Association of REALTORS®.
RealEstate-Referral.net is not affiliated with the National Association of REALTORS®.