North Carolina Buyer and Seller Real Estate Agency Relationships

When buying or selling a home or real estate in North Carolina, real estate agents can work with you in different ways. With some real estate firms, all real estate agents work for the seller. In others, the seller and buyer may each have agents. And sometimes the same real estate agent works for both the buyer and the seller. It is important for you to know whether a real estate agent is working for you as your agent or simply working with you while acting as an agent of the other party.

I do not practice dual agency - when I list a seller's home, I represent only the seller; when I work as a buyer's agent, I represent only the buyer. This is a very important distinction, and differentiates me from most other agents in Pittsboro, Chatham County, and the NC Triangle.

SELLER'S AGENT

When you hire me to sell your home, we will sign a Listing Agreement, in which you authorize my firm and its real estate agents to represent you in your dealings with buyers as your seller's agent. I will review the Listing Agreement with you in detail, and explain it in full.

Be sure to read and understand the listing agreement before you sign it.

Duties to Seller:

Myself and the other agents in my firm must:

• promote your best interests
• be loyal to you
• follow your lawful instructions
• provide you with all material facts that could influence your decisions
• use reasonable skill, care and diligence
• account for all monies we handle for you

Once you have signed the listing agreement, all fiduciary duties are owed to you, the seller. My firm and its real estate agents may not give any confidential information about you to prospective buyers or their real estate agents without your permission so long as we represent you.

If you interview various real estate agents to list your home, until you sign the listing agreement, you should avoid telling the real estate agent anything you would not want a buyer to know.

BUYER'S AGENT

Duties to Buyer:

Myself and the other agents in my firm must:

• promote your best interests
• be loyal to you
• follow your lawful instructions
• provide you with all material facts that could influence your decisions
• use reasonable skill, care and diligence
• account for all monies we handle for you

Once you have agreed (either orally or in writing) for me to represent you as your buyer's agent, all my fiduciary duties are owed to you. I may not give any confidential information about you to home sellers or their real estate agents without your permission so long as I represent you.

If you interview various real estate agents to assist you with your home or real estate selection and purchase, or even speak with a real estate agent "casually", until you make this agreement with your buyer's agent, you should avoid telling the real estate agent anything you would not want a seller to know.

DUAL AGENT

Dual agency is a relationship in which the brokerage firm, and sometimes the same agent, represents both the buyer and the seller in the same real estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it's vital that all parties give their informed consent. It is difficult for a dual agent to advance the interests of both the buyer and seller. Nevertheless, a dual agent must treat buyers and sellers fairly and equally. Although the dual agent owes them the same duties, buyers and sellers can prohibit dual agents from divulging certain confidential information about them to the other party. I do not practice Dual Agency, as a dual agent's loyalty is divided between parties with competing interests, and the duty of confidentiality to one client is in conflict with the duty of full disclosure to the other client (see Designated Dual Agent below).

DESIGNATED DUAL AGENT

In specific circumstances, I offer a form of dual agency called Designated Agency where one agent in my firm represents solely the seller and another agent represents solely the buyer. Designated agency avoids the problem of creating a dual-agency relationship for real estate agents at the same firm. This option allows each real estate agent to fully represent each party, with all of the attendant fiduciary duties.

BUYER'S REPRESENTATION WHEN BUYING A NEW HOME

Buying a new construction home does not change - or eliminate - your right to have your own buyer's agent to assist you with all of the in's and out's of the home buying process. Home buyers should be aware of the differences inherent with working with sales agents who are employed by the developer, rather than selecting a buyer's agent to fully represent the buyer. Remember, in North Carolina, all agent's commissions are typically paid by the seller, which means that a buyer can hire a REALTOR to be their buyer's agent, usually at NO COST to the buyer!

Builders commonly require that a buyer's agent be present, and sign in, the first time a prospective purchaser visits a site before payment of commission is even discussed. At times when buyers use an advertisement to find the development themselves first, builders can refuse to pay any commission regardless of how helpful an agent may become later in the process. It is advisable to speak with your buyer's agent before visiting a new home community on your own.

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Cindy Brudvik Davis, RE/MAX Southern Advantage, a full service real estate agent in Pittsboro, Chatham County, will work on your behalf to actualize your real estate and home ownership goals in the following NC Triangle towns and communities: 

Apex (Chatham and Wake Counties)

Carrboro (Orange County)

Cary (Chatham and Wake Counties)

Chapel Hill (Chatham and Orange Counties)

Fearrington Village (Pittsboro in NE Chatham County)

Governor's Club (Chapel Hill, Chatham County)

Graham (Southern Alamance County)

Holly Springs (Wake County)

Morrisville (Wake County)

Pittsboro (Chatham County)

Raleigh and North Raleigh (Wake County)

RTP (Research Triangle Park)

Siler City (Chatham County)

Silk Hope (Pittsboro and Siler City in Chatham County)

Snow Camp (Southern Alamance County)

Southwest Durham County (near Duke University and the Streets at Southpoint)

UNC (Chapel Hill, Orange County) 

Cindy Brudvik Davis, Real Estate Broker/REALTOR

RE/MAX Southern Advantage

288 East Street Pittsboro, NC 27312

cindydavis@remax.net

Pittsboro, Chatham County, and NC Triangle Homes For Sale

Pittsboro, Chatham County, and NC Triangle Real Estate