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From the Michigan Association of Realtors' Disclosure Regarding Real Estate Agency Relationships


Seller's Agent

A seller's agent, under a listing agreement with the seller, acts solely on behalf of the seller. A seller can authorize a seller's agent to work with subagents, buyer's agents and/or transaction coordinators. A subagent of the seller is one who has agreed to work with the listing agent, and who, like the listing agent, acts solely on behalf of the seller. Seller's agents and their subagents will disclose to the seller known information about the buyer which may be used to the benefit of the seller.

The duties that a seller's agent and subagent owes to the seller include:

promoting the best interests of the seller
fully disclosing to the seller all facts that might affect or influence the seller's decision to accept an offer to purchase
keeping confidential the seller's motivations for selling
presenting all offers to the seller
disclosing the identities of all buyers and all information about the willingness of those buyers to complete the sale or to offer a higher price

Buyer's Agent

A buyer's agent, under a buyer's agency agreement with the buyer, acts solely on behalf of the buyer. A subagent of the buyer is one who has agreed to work with the buyer's agent and who, like the buyer's agent, acts solely on behalf of the buyer. Buyer's agents and their subagents will disclose to the buyer known information about the seller which may be used to benefit the buyer.

The duties a buyer's agent and subagent owe to the buyer include:

promoting the best interests of the buyer
fully disclosing to the buyer all facts that might affect or influence the buyer's decision to tender an offer to purchase
keeping confidential the buyer's motivations for buying
presenting all offers on behalf of the buyer
disclosing to the buyer all information about the willingness of the seller to complete the sale or to accept a lower price

The complete agency form may be downloaded at the Michigan Assn of Realtors or ask me for a copy!

Looking to buy a house? I'd be happy to email you everything on the market that meets your criteria.
Details in my Buyer's Report!


 

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