Understanding
Agent Representation

Traditionally, real estate agents represented only the seller, and guided the sale in the best interest of the seller, leaving buyers somewhat on their own. Over the past decade, a new trend has arisen regarding representation for the buyer. Real estate brokers and agents who represent the best interests of the buyer are known as buyer's brokers.

In order to understand the difference between a seller's agent and a buyer's agent, you should first understand some important real estate terminology. The terms are as follows:

A Broker is someone that is licensed by the state to practice in real estate.

An Agent, or sales associate, can also be licensed but has to work under a broker. The broker takes full responsibility for the agent/sales associate's actions.

A Realtor is someone that belongs to the National Association of Realtors. This association has a special code of ethics that every member has to follow.

The Principal/Client is the individual that the broker represents.

The customer is the third party involved in the sale. For instance, if a broker represents the seller, the buyer is the customer.

Real Estate professionals, whether brokers or agents, have fiduciary duties that are owed to the principals. The fiduciary duties are:

· loyalty - a buyer's agent must commit to getting the lowest price
               for the buyer - while a seller's agent must commit to
               getting the highest price for the seller.

· obedience - the broker or agent must adhere to the wishes of
                    the principal, unless illegal

· confidentiality - the broker or agent cannot reveal facts unless
                          the principal approves

· notice - the broker or agent must notify the principal of any fact
              that is of his/her interest to know

By finding out who a broker or agent's fiduciary duties are owed to, you can determine whether they are a buyer's agent or a seller's agent. These duties are owed to the principal. The easiest way to find out who an agent represents is to ask. It may also be wise to have the agent put something in writing regarding who they represent.

A Kierman Realtors broker will work for you, whether you are the buyer or the seller, so that your best interests will be represented. Kierman Realtors representatives are trained to negotiate the best terms for the principal. Their job is to provide you with the necessary information to help you make the best decisions. A Kierman Realtors broker offers the principal:

· Confidential negotiation strategies
· Advice on getting the best price and terms
· The latest technology tools to help you find or sell your home
· Assistance in making informed decisions

Kierman Realtors agents take the guesswork out of the process of selling your home, so that you do not have to take on the battle alone. This partnership, between a Kierman Realtors agent and the seller will ensure that the seller gets the best value possible.

At Kierman Realtors, your satisfaction is our most valued asset!