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Seller agent
duties typically include:
- Advise seller if property
disclosure is required.
- Advise seller
of his/her duties.
- Advise seller
that the buyer has a 3-day right to terminate a sales
contract when buyer does not receive the disclosure
statement in a timely manner.
- Agent must
provide the seller with a copy of the disclosure statement.
- Advise the
seller that their agent must disclose to any potential buyer
any material fact regarding the seller's property and
assist the seller with correcting the disclosure statement
if necessary.
- Obtain the
disclosure statement from the agent who is working with the
buyer and deliver it to the seller.
- If the agent
is working directly with the buyer (as a dual agent),
promptly deliver the disclosure statement to the buyer and
have the buyer sign and date the form. If the buyer
has not been provided with the disclosure statement prior to
making any offer, the agent needs to advise the buyer of
his/her right to cancel any resulting contract.
The listing
agents' firm may be a member of a listing service to expose the
seller's listing to other agents. Some of those other
agents may be working as exclusive buyers' agents while
others may be working with buyers but still representing
the sellers' interests as a "subagent". With the
seller's permission, the listing agent may share the commission
with the buyer's agent and/or seller subagent.
Switching
From a Seller's Agent to a Buyer's Agent
Only in rare
situations may a seller's agent "switch" to a buyer
agent role. He may do so only if he has not
received any confidential information about the seller.
In any event, this practice is generally discouraged in the
industry. An agent, who has received confidential
information about the seller, may not "switch"
from seller to buyer agent unless the seller expressly agrees
to the switch (usually in writing).
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