In the past, real estate agents always represented the
seller, whether the agent helped a seller to market and
sell a home or helped a buyer find and purchase a home.
In other words, agents were at one time legally bound to
represent the seller in a residential real estate transaction.
In that scenario, the seller paid both the listing agent
and the agent who brought the buyer.
Today, agents either represent the buyer, the seller, or
both. If you want to sell your home, you can work with a
"seller's agent." If you want to buy a home, you
can work with a "buyer's agent." Most states require
real estate agents to disclose to consumers who they represent.
Sometimes an agent will represent the buyer and the seller.
A buyer who elects this situation should receive full disclosure
on representation. In some states, dual agency affects the
real estate professional's fiduciary responsibilities to
the seller. The real estate agent you choose should fully
disclose how they work with individuals and the options
available to you.
Keep in mind that real estate laws differ
from state to state and even from locale to locale. For
more in-depth answers, talk with a knowledgeable real estate
professional and ask about local practices. Be sure you
understand and are comfortable with the services of the
real estate agent you engage.
In Georgia, it's worth noting that most
Sellers are paying the Buyer's Agent, even though the agent
will represent the buyer. This is true of new construction
as well as unrepresented sellers.
