"Listing Agent or Seller's Agent" - both are the same…they work for the sellers…they accept listings of real estate ... sign listing contracts with the sellers and represent the sellers. Sellers/Listing agents are able to take you out to look at properties, take your deposit check, write up a contract and sell you the property BUT, your were not represented during this transaction.
Dual Agent - a real estate agent who represents both the Seller and the Buyer in the same transaction. This practice is not legal in Vermont (and many other states) because of the obvious conflict of interest.
Limited Agent - This Real Estate agent does represent both the Seller and the Buyer in the same transaction, BUT, offers a very "limited" level of representation to each.
Similar conflicts of interest as with Dual Agent, but this practice is legal in Vermont, with full disclosure to all parties.
Both seller and buyer must consent, in writing, to this arrangement.
Try to avoid this agency relationship, if possible.
Buyer's Agent .... in a traditional Real Estate office .... You have the rights to "request" that a "Buyers Agent" represent you when you walk into a Traditional Real Estate office ... and they can usually provide this service. You will be represented and are "safe" as long as you want to view and see only properties listed with other real estate offices .... when you find a property that is listed by the office you are now in, and you ask to view one of this Real Estate companies Iistings ... a listing where they represent the "seller" in the Sale of their property .... they must now "Regress" to a "limited Agency* to work with you…in which your representation is really compromised ...not a good idea…see above.
Exclusive Buyer's Agent - This is the real estate agent whose company does not represent any sellers, at anytime .... they do not take any listings. You are "safe" working with an Exclusive Buyer's Agent. They work for you 100% of the time .... if you want a good Indian Scout to take you thru the woods of buying a Vermont Property, then hire yourself a "Exclusive Buyer's Agent" .... it does not cost you one cent to do so, and they are on your team.
How do Exclusive Buyers Agents get paid for their services ?
A very important question….. When a listing agent lists a property they will be charging the seller a "sales commission" that gets paid when the property is sold .... the sellers agent agrees, thru the local MLS listing service, to pay 1/2 of this commission to the Buyer's Agent for their services provided .... Buyers do not pay anything extra, the seller does not pay anything extra…it’s the same price,.. BUT, you the "Buyer" "are" 100% represented!
When Shopping for Vermont Real Estate, "why" would you not want to use an Exclusive Buyers Agent ?
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