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SC AGENCY RELATIONSHIPS
Be sure you understand South Carolina Agency Relationships. Whether you are a Buyer or Seller, your agent should
discuss them with you at first opportunity.
BUYER-CUSTOMER vs. BUYER-CLIENT
CUSTOMER : As a "Customer," any agent can open any doors for you, provide you with material facts, help you fill out offer paperwork and walk you thru' the transaction. You can work with several agents if you wish, but most will want a "Client" commitment from you after showing you a few homes. It's only fair- if they are going to invest their time and gas in you- they want to know that it's not in vain. Find an agent you like & become their "Client." It's to your advantage.
CLIENT: As a "Client," your agent is looking out for your best interest and can counsel you, coordinate schedules and provide insight, do research, get the inside scoop, negotiate-- essentially provide you with a much higher level of service that includes: obedience, loyalty, disclosure, confidentiality, accounting, reasonable acre & skill. You will sign a simple "Buyers Agency Agreement"- which is typically at no cost to you.
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If you are a CUSTOMER,
your agent is expected to: |
If you are a CLIENT,
your agent will: |
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Maintain loyalty to the Seller's needs |
Pay full attention to your needs |
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Tell the Seller all they know about you |
Tell you all they know about the Seller |
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Keep information about the Seller confidential |
Keep information about you confidential |
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Focus on the Seller-client's needs |
Focus on choices that satify your needs |
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Provide just the material facts |
Provide material facts, insight and professional advice |
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Only provide price information that supports Seller's listing price |
Provide price counseling based on comparative properties and professional insights |
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Protect the Seller |
Protect and guide you |
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Negotiate to the Seller's advantage |
Negotiate on your behalf |
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Attempt to solve problems to the Seller's advantage and satisfaction |
Attempt to solve problems to your advantage and satisfaction | (Courtesy thru ABR/REBAC membership)
SINGLE AGENCY vs. DUAL AGENCY
SINGLE AGENCY: When a Company represents only one Client (either Buyer or Seller) in the same transaction.
DUAL AGENCY: When the Company has two Clients in one transaction. For example, you are my Buyer-Client (not just my Customer) and you buy one of my listings, or another Prudential home. In this scenario, both sides are asked to read/sign a Dual Agency Agreement that acknowledges the Company & its agents must maintain the strictest confidentiality for both sides as to not give an unfair advantage. (Designated Agency is where a brokerage will designate one agent as the Seller's Agent and then another as the Buyer's Agent. Note: Prudential Cambridge Realty rarely employs this and only in extreme circumstances.)
I'm very experienced and comfortable w/ Dual Agency and love it because it means a bigger paycheck for me and I get to help both sides reach that wonderful WIN-WIN. For you Sellers, I want to work very hard for you trying to find a Buyer myself and not just sit back and wait for another agent to bring an offer! For you Buyers, no one know more about my listings than I do and I will carefully help you thru' the entire process. As a REALTOR, I am committed to the highest ethical standards- which are formally established in writing, constantly updated as our industry evolves, and hammered into our heads with ongoing continuing education. We are also required to take additional annual ethical training thru' membership in our local Greenwood Association of Realtors! Do not be afraid of Dual Agency!
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