When Real Estate Professionals work with buyers and sellers, “agency” relationships
are established. As you start working with a Realtor, please ask for a clear
explanation of Pennsylvania’s agency laws, so that you understand these important
issues.
Please see the Consumer Notice, enclosed in this packet.
There are three kinds of Agency relationships:
Buyer’s Agent- Represents the buyer during the home buying process. The buyer’s
Realtor has a fiduciary responsibility to represent the buyer’s best interests including
reasonable care, loyalty and confidentiality.
Seller’s Agent- Represents the interest of the Seller and has a fiduciary responsibility
of reasonable care, loyalty, confidentiality and disclosure to a seller. A seller’s
agent works to assist the seller in locating a buyer and in negotiating a transaction
suitable to meet ONLY the Seller’s needs. In Pennsylvania, the consumer has the
right to choose how they want represented in a transaction. Until you choose to be
represented under buyer agency, you should not discuss purchasing a home with the
seller’s agent. The seller’s agent is obligated to tell the seller EVERYTHING.
Disclosed Dual Agent- Represents the interests of both the buyer and the seller during
the same transaction. A dual agent has responsibilities to both the buyer and seller
and must act in the best interest of both parties.