What is the difference between a buyer’s and a seller’s agent?

When buying or selling residential real estate in Delaware, it’s important to understand the difference between a buyer’s and a seller’s agent. A buyer’s agent works for the buyer, representing them in the transaction and helping them find the best possible deal. This includes going to open houses, researching comparable home sale data, and negotiating the purchase price. A seller’s agent works for the seller, helping them price the house, advertising and marketing the property, and negotiating offers from prospective buyers. The buyer’s agent generally has a fiduciary responsibility to the buyer. This means they are obligated to act in the buyer’s best interest. They must inform the buyer of any pertinent information related to the transaction, such as the physical condition of the property or any issues with title. There is an expectation of honesty and loyalty between the buyer’s agent and the buyer. The seller’s agent owes a fiduciary responsibility to the seller. This requires them to disclose all pertinent information they are aware of, such as offering any properties similar to the one being sold. Unlike the buyer’s agent, the seller’s agent is not obligated to work in the buyer’s best interest. They must, however, disclose any material information they have about the property, such as potential problems with the title. The buyer’s agent and seller’s agent must both abide by the ethical guidelines set forth by the National Association of Realtors. This includes the obligation to act in good faith and treat all parties with respect. Ultimately, the buyer and seller are responsible for signing the real estate contract and closing the deal.

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What is the difference between a buyer’s and a seller’s agent?

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