Seller agency definition

Seller agency means a District department, office, or agency that receives

Seller agency. The brokerage company (BIC) becomes the seller's agent by entering into a written listing agreement with the seller. Seller becomes the client of the company. Licensees associated with the company also represent the seller/client as agents. A subagent is a designated broker and all associated licensees engaged by a broker of another company. A subagent owes the same duties and responsibilities to the client as the client's primary broker. A brokerage company may or may not offer or accept subagency. A seller's agent has the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, diligence, obedience, accounting in all dealings, and specific duties as defined in Section 40-57-137(C) of the South Carolina Real Estate License Law. In dealings with a buyer, seller's agent should: exercise reasonable skill and care, deal honestly and in good faith, and disclose all facts known by agent related to the physical condition of a property.

Seller agency. When a property is listed for sale, the listing REALTOR/Broker acts as an agent for and on behalf of the Seller. Thus, the Seller is their client. Other REALTORS/Brokers who work through the Multiple Listing Service, are considered cooperating agents of the listing agent and, as a result, are considered subagents for the Seller. As subagents for the Seller, they have also agreed to work for and on behalf of the Seller, their client. BUYER AGENCY: The Seller has been informed and understands that, on occasion, some REALTOR/Brokers may represent Buyers under a Buyer Agency Agreement. The REALTOR/Brokers acting as the Buyer’s agent have a duty to serve the Buyer’s interest. Thus, any information that the Seller provides the Buyer’s agent will be disclosed to the Buyer. BROKER RECOMMENDATION: REALTOR/Brokers from other offices may, on one occasion, be acting as an agent of the Seller and, on another occasion, as a Buyer’s Agent. Therefore, we recommend that the Seller treat all REALTOR/Brokers from other offices as a Buyer’s agent, i.e. the Seller should not disclose confidences to those REALTOR/Brokers that the Seller would not disclose to a Buyer.

Seller agency. In this type of relationship, the agent and the brokerage owe the seller the duties of loyalty, obedience, confidentiality, accounting, and reasonable skill and care in performing their duties, and any other duties contained in an agency agreement. The agent and brokerage are required to act solely on behalf of the seller's interest to seek the best price and terms for the seller. Finally, a seller's agent and brokerage also have a duty to disclose to the seller all material Information obtained from the buyer or from any other source.