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Working With An Agent >An Agents Role Recent reforms in the disclosure laws and real estate practices around the country have resulted in new options for buyers and sellers. Real estate agents can take different roles with buyers and sellers. A seller's agent works with loyalty and fidelity as the seller's advocate and negotiator, and is obligated to disclose to potential buyers all adverse material facts that are known about the property. A buyer's agent works exclusively to negotiate the lowest purchase price and best terms for the buyer. This agent serves the buyer with undivided loyalty, confidentiality, and full disclosure. The agent would know the highest price that the buyer would be willing to offer for a home, but could not disclose that information to the seller. A dual agent can work for both the buyer and the seller by written, informed consent of both parties and has fiduciary obligations to both. The agent can only disclose to one party what the other party allows to be revealed. A transaction broker assists the buyer or seller or both throughout a real estate transaction without being an agent or advocate for any of the parties. See All Tips In The "Working With An Agent" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  In which 'Oil Sheikdom' of the Far East do the wealthy still choose to live in primitive houses on stilts? A  Brunei's oil wealth results in no income tax, free education and health services, and cheap housing loans for its average citizen. See More Real Estate Trivia >