Agency Relationships in Georgia

AGENCY RELATIONSHIPS IN GEORGIA

When real estate professionals work with sellers and buyers, according to Georgia real estate law, relationships are established. As you start working with a real estate professional, be sure you understand the current agency laws as they pertain to the state of Georgia. Each state has different laws.

SELLER'S AGENT

A "seller's agent" represents the interests of the seller and has a fiduciary responsibility of reasonable care, loyalty, confidentiality and disclosure to the seller. A seller's real estate professional (Realtor®) works to assist the seller in marketing the propertty to procure a ready, willing and able buyer, negotiating an offer suitable to the seller's specific needs, guiding them through the inspection process and negotiations and facilitating the transaction to get it to the closing table.

  BUYER'S AGENT

A "buyer's agent" represents the buyer during the home buying process. The buyer's real estate professional (Realtor®) has a fiduciary responsibility to represent the buyer's best interests including reasonable care, loyalty and confidentialty. In the process of their assistance, the buyer's agent should help the buyer find a home within the parameters given, provide recent comparable sales data to guide you in determining a suitable offering price, assist in preparing the offer, present the offer and negotiate on your behalf. Once an agreement is secured, your buyers agent should also guide you through the home inspection process, prepare any paperwork necessary to request repairs (if any), assist in the repair negotiations and faciliate the tranasction to get it to the closing table. Looking for an agent with the ABR designation will signify to you that the agent has taken classes and past a test specific to the responsibilities of buyer representation.

   DISCLOSED DUAL AGENCY

A "disclosed dual agency" represents the interests of both the seller and the buyer, during the same transaction. A dual agency has responsibilities to both the seller and the buyer and is required to act in the best interest of both parties. Your agent should disclose to both sides that dual agency may take place and have the approval from both sides. Without approval from both sides, dual agency can not occur. Not all states allow dual agency.

REALTOR® - Also remember NOT all agents are REALTORS®. Realtors® are members of the local board (ie: NAMAR) and are bound by a Code of Ethics. You will know if you are dealing with a REALTOR® by simply asking for their card. If it does not say "REALTOR®",  they are simply a real estate sales person and are not bound by any code of ethics.