- Mike and Mary Damon, Waynesville
Agency Explanations and Definitions
Helpful Definitions
Buyer Agency: Agent represents only the buyer in the transaction. Buyer Agency agreement must be in writing before an offer is made.
Seller Agency: Agent represents seller exclusively.
Seller Sub Agency: Agent is working with a buyer who does not desire representation so the agent is working with him/her as a customer (rather than a represented client) and is representing the seller in the transaction.
Dual Agency: Agent has fiduciary relationship with both buyer and seller in a transaction (i.e., property is listed with the agent's company and agent is working with buyer in a Buyer Agreement). Agent cannot offer counsel or advice that would damage either party. Confidential information remains confidential but all material facts about the property must be disclosed.








