SELLER AGENCY Sample Clauses
SELLER AGENCY. A SELLER’S agent represents SELLER only, so the Buyer may be either unrepresented or 200 represented by another agent. The SELLER’S agent is responsible for performing the following duties: 201 promoting the interests of SELLER with the utmost good faith, loyalty, and fidelity; protecting SELLER’S 202 confidences, unless disclosure is required; presenting all offers in a timely manner; advising SELLER to 203 obtain expert advice; accounting for all money and property received; disclosing to SELLER all adverse 204 material facts about the Buyer that the agent knows; disclosing to the Buyer environmental hazards affecting 205 the Property that are required to be disclosed, the physical condition of the Property or any material defects 206 in the Property or in the title to the Property; any material limitation on SELLER’S ability to complete the 207 contract. The SELLER’S agent has no duty to conduct an independent inspection of the Property for the 208 benefit of the Buyer or to independently verify the accuracy or completeness of any statement by SELLER or 209 any qualified third party. 210 • Transaction Broker. (Kansas and Missouri). SELLER acknowledges that BROKER may have Buyer 211 clients who have retained BROKER to represent them in the acquisition of property. If one of these clients 212 becomes interested in making an offer on the Property, BROKER would be in the position of representing the 213 Buyer and SELLER in the same transaction. Unless designated agents have been appointed as provided 214 below, this representation would constitute a dual agency (Missouri only). With the informed consent of both 215 SELLER and the Buyer, BROKER may act as a Transaction Broker. As a Transaction Broker, BROKER 216 would assist the parties with the real estate transaction without being an agent or advocate for the interests of 217 either party. A Transaction Broker has the duty to perform the terms of any written or oral agreement made 218 with any party to the transaction; to exercise reasonable skill, care and diligence as a Transaction Broker, 219 including but not limited to: presenting all offers and counter offers in a timely manner regardless of whether 220 the Property is subject to a Contract for sale or lease or a letter of intent; keeping the parties fully informed 221 regarding the transaction and suggesting that such parties obtain expert advice as to material matters about 222 which the Transaction Broker knows but the specifics of which are beyon...