In this relationship the seller is the client and the agent, sometimes called the listing agent or marketing agent, protects the interest of the seller and owes the seller all of the duties of a fiduciary. It is the agent's job to use his or her expertise to market a property, find a willing and able buyer, and to secure the most favorable price and terms for the seller. The seller's agent may assist a buyer in finding an appropriate property, preparing an offer or contract, or obtaining financing. Seller's agents are also required by law to disclose to the prospective buyer all material facts within their knowledge about the property being sold and to treat the buyer fairly and ethically. Unless the buyer is represented by a buyer's agent, the buyer is a customer.
Sellers are responsible for the actions of their agent.
When a prospective buyer engages an agent to represent him or her in a real estate transaction the buyer becomes a buyer client and the agent is a buyer's broker or buyer's agent. The buyer's agent owes his or her client all of the duties of a fiduciary and it is the buyer's agent's job to use his or her expertise to assist the buyer in locating a suitable property and acquiring it at the most favorable price and terms. Buyer's agents are required to disclose to the buyer any material information they may obtain from the seller or from other sources. The buyer's agent must present information accurately and honestly and must not disclose information about the buyer to the seller without the buyer's consent. Broker Agency Brokers often enlist the aid of other agents in finding a buyer for a seller client or in locating an appropriate property for a buyer client.