Keeping First Things First
For Real Estate Inquiries
Types of Agent Representation.
In Virginia there are four types of agency:
- Seller Representation-The Realtor represents the seller. When a buyer attends an open house, the buyer should expect the showing agent to be working for the seller.
- Buyer Representation-The Realtor represents the buyer. When a seller receives a call from an agent to schedule a showing, the seller should expect the agent to be working for the buyer.
- Dual Representation-With informed written consent of both parties, a single Realtor represents both the buyer and the seller. Dual representation limits what the agent can do for both parties.
- Designated Representation-With the informed, written consent of both parties, the supervising broker assigns one Realtor to the buyer and one to the seller. This occurs frequently and results when the buyer's agent and the seller's agent work within the same real estate company.
Discuss with your Realtor the types of agency, the implications of each, and the type of representation that is in your best interest. Then choose the type or types of agency that best suits your needs.
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