In Seller’s Agency, a real estate company (brokerage) represents only the interests of the seller. Seller’s Agency can be established by a written contract between the seller and the brokerage using the listing agreement forms.
The MLS (multiple listing contract) will explain what the seller instructs instructs the Listing Brokerage to do, what services the Listing Brokerage will provide to the seller, who will pay for those services and what obligations all parties will have.
In Seller’s Agency, the seller authorizes the brokerage to:
- Obtain info concerning the property from any person, corporation, mortgagee and BC assessment and to share this info with the other members
- To advertise the property and show it to prospective buyers (during reasonable hours)
- Ensure the advertisement of the property falls within our rules and regulations
- Allows us to put up for sale/sold signs (unless otherwise instructed)
- Allows competing brokerages access to show prospective buyers
- Etc. There is much more to the contract than this.
There can also be an EXCLUSIVE LISTING but please contact your real estate for more information on this as this is not as common and comes with many more limitations including who can view your property.
Dual agencies occur when the same REALTOR® acts for both the buyer and the seller on the sale of a property. It also occurs when different REALTORS® work for the buyer and seller if those REALTORS® are employed by the same real estate company (brokerage) even if they work at different branch offices of that brokerage.
In British Columbia, dual agency in on real estate agent representing both a buyer and a seller is not recommended and in some areas not possible. When a listing agent also has a potential buyer there are ways we can ensure you are getting the best care and there is no conflict of interest.