Understanding Agency in Maryland for Buyers and Sellers
By ReShawna Leaven, Experience. Knowledge. RESULTS.
(KW United | Alexandria/Kingstowne)
Understanding Agency in Maryland for Buyers and Sellers Image courtesy of 50states.com Who represents who? Seller’s agent – agent that represents seller (owner of real estate)Buyer’s agent – agent represents the buyer (prospective owner of real estate) Dual agency is a misunderstood concept. Dual Agency occurs when a buyer and seller enter into an agreement by the same brokerage company. Dual representation can only occur in Maryland if both parties agree. However, agents are not permitted to represent both buyer and seller in the same transaction. For example, if an agent lists a home on 123 Main Street and a buyer views the home with the listing agent, the listing agent MUST NOT represent buyer and seller. However, dual representation can occur if the listing agent refers the buyer to...
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