When I first obtained my license in 1987, the business was a lot different. In the years since, there have been massive changes – mostly for the better. There have also been changes in Missouri real estate law and regulation. One change that many consumers do not understand is the difference between the types of representation now available to home sellers.
The two most common types that occur in our marketplace are “designated agent” or “seller’s agent.” The naming of these two categories is probably the main source of confusion. A listing agent working with a seller may, depending on their agency’s policies, operate under either category. The duties and responsibilities in either case are very similar: both types of agents are obligated to exercise reasonable skill and care and to promote the interests of the client with the utmost good faith, loyalty, and fidelity.
However, there is a crucial difference between the two. When you hire a designated agent, that agent (or team) must keep confidential any information that you share concerning your motivation, financial situation, or minimal acceptable price. The designated agent must not disclose this sensitive information even to fellow agents in his/her own company.
A seller’s agent, on the other hand, may share all of this information with other agents of his/her own company. This must make for some very interesting sales meetings at those companies operating under this category.
At Robb Partners, we operate as designated agents. Although we cooperate successfully with our colleagues at the Dielmann Sotheby’s International Realty agency and with agents at other companies from across the region, we will not disclose your confidential information.
To learn more about agency relationships and the services available from Robb Partners, please contact Dave Robb today: 314-283-7053.
If you have questions about a particular area, neighborhood or property, please feel free to contact Sabrina Robb for additional information: 314-283-7590 / firstname.lastname@example.org
Please follow my weekly Real Estate blog every Wednesday for the latest on Unique, Distinctive and Historic properties! To see more and to keep up with the latest real estate news and most sought after homes for sale, please visit my website at www.robbpartners.com.
About this Column: The market data is puller from the Mid America Regional Information System. All information is deemed reliable but not guaranteed.