CLIENT RELATIONSHIP LEVELS
Agency relationships can be established on various levels. Below are three variances of a relationship with a REALTORŪ.
A single agency arrangement describes a relationship where the REALTORŪ represents only one party in a real estate sales transaction. In the case of a single agency brokerage arrangement, the real estate licensee represents either the buyer or the seller. This level is best for consumers who seek advice from a REALTORŪ in addition to needing to market their listing. This is an exclusive relationship where conversations are confidential and honest professional services are offered.
This relationship involves a REALTORŪ representing both the buyer and seller in the same real estate transaction. Consensual dual agency requires the licensee to obtain the written consent of both the buyer and the seller to act as their agent. The two most common
circumstances where dual agency is encountered are (1) when two or more sales persons licensed under the same broker each represent a different party to the transaction, and (2) when one licensee represents both the buyer and seller in the same sales transaction. Like
the single agency, confidentiality is upheld on both ends of the deal.
Transaction brokerage describes an arrangement whereby the real estate licensee assists one or more parties, who are customers, in a real estate transaction, without being the agent, fiduciary or advocate of that party to the transaction. This means that real estate brokers and salespeople can act as intermediaries between buyers and sellers. With this type of brokerage arrangement, home buyers and sellers are customers and not clients of the licensees with whom they are working.
