Seller agency definition

Seller agency means a form of agency in which a real estate brokerage firm represents the seller in an agency capacity as defined in this chapter.
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Seller agency. In this type of relationship, the agent and the brokerage owe the seller the duties of loyalty, obedience, confidentiality, accounting, and reasonable skill and care in performing their duties, and any other duties contained in an agency agreement. The agent and brokerage are required to act solely on behalf of the seller's interest to seek the best price and terms for the seller. Finally, a seller's agent and brokerage also have a duty to disclose to the seller all material Information obtained from the buyer or from any other source.
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Seller agency. The brokerage company (BIC) becomes the seller's agent by entering into a written listing agreement with the seller. Seller becomes the client of the company. Licensees associated with the company also represent the seller/client as agents. A subagent is a designated broker and all associated licensees engaged by a broker of another company. A subagent owes the same duties and responsibilities to the client as the client's primary broker. A brokerage company may or may not offer or accept subagency. A seller's agent has the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, diligence, obedience, accounting in all dealings, and specific duties as defined in Section 40-57-137(C) of the South Carolina Real Estate License Law. In dealings with a buyer, seller's agent should: exercise reasonable skill and care, deal honestly and in good faith, and disclose all facts known by agent related to the physical condition of a property.
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Examples of Seller agency in a sentence

  • Seller agency occurs when the real estate broker is representing the seller in selling his or her property.

  • Seller agency is also sometimes called listing agency.Landlord agency is different from seller agency in that the listing broker is assisting the property owner in leasing rather than selling property.

  • Seller agency is a lso sometimes called listing agency.Landlord agency is different from seller agency in that the listing broker is assisting the property owner i n leasing rather than selling property.

  • Your local system for managing alerts must ensure:• your board is notified as new NatPSAs are issued; and the appropriate people who are involved in implementation are contacted to ensure they understand their responsibilities, allowing actions to be completed in the identified timescale.• NatPSAs are only recorded as ‘action completed’ on CAS with executive authorisation and assurance that all actions are complete.

  • Payment must be made within the deadline established by the Organizer in its catalog or in the booking confirmation of the requested tourist package.2. Failure to pay the price by the established date, as well as failure to remit to the Organizer the sums paid by the Traveller to the Seller agency, and without prejudice to any warranty claims against the latter pursuant to Art.

  • Seller agency (sales representation for new condominiums/houses built for sale, etc.)3.

  • Seller agency occurs whe the real estate broker is representing the seller in selling his or her property.

  • This course will provide an initial exposure to Seller agency, Buyer agency and Intermediary practice and the related contract forms to implement the appropriate practice.

  • Although the form is called a disclosure it does not actually disclose who you represent in the transaction but rather it merely discloses the three possible types of representation that might occur in the transaction: Seller agency; buyer agency and dual agency.

  • Seller agency occurs when the real estate b oker is representing the seller inlicensed real estate salespersons, commonly known as realselling his or herproperty.


More Definitions of Seller agency

Seller agency. When a property is listed for sale, the listing REALTOR/Broker acts as an agent for and on behalf of the Seller. Thus, the Seller is their client. Other REALTORS/Brokers who work through the Multiple Listing Service, are considered cooperating agents of the listing agent and, as a result, are considered subagents for the Seller. As subagents for the Seller, they have also agreed to work for and on behalf of the Seller, their client. BUYER AGENCY: The Seller has been informed and understands that, on occasion, some REALTOR/Brokers may represent Buyers under a Buyer Agency Agreement. The REALTOR/Brokers acting as the Buyer’s agent have a duty to serve the Buyer’s interest. Thus, any information that the Seller provides the Buyer’s agent will be disclosed to the Buyer. BROKER RECOMMENDATION: REALTOR/Brokers from other offices may, on one occasion, be acting as an agent of the Seller and, on another occasion, as a Buyer’s Agent. Therefore, we recommend that the Seller treat all REALTOR/Brokers from other offices as a Buyer’s agent, i.e. the Seller should not disclose confidences to those REALTOR/Brokers that the Seller would not disclose to a Buyer.
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Seller agency means a District department, office, or agency that receives
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Related to Seller agency

  • User Agency means any person, organisation or company or department of the Central Government or State Government making a request for diversion or de-notification of forest land for non-forest purpose or using forest land for non-forest purpose in accordance with the provisions contained in the Forest (Conservation) Act, 1980 (69 of 1980) and the rules made and guidelines issued, thereunder.

  • the Agency means the Environment Agency;

  • Cooperating agency means any Federal agency other than a lead agency which has jurisdiction by law or special expertise with respect to any environmental impact involved in a proposal (or a reasonable alternative) for legislation or other major Federal action significantly affecting the quality of the human environment. The selection and responsibilities of a cooperating agency are described in Sec. 1501.6. A State or local agency of similar qualifications or, when the effects are on a reservation, an Indian Tribe, may by agreement with the lead agency become a cooperating agency.

  • Procuring Agency means all State of New Mexico agencies, commissions, institutions, political subdivisions and local public bodies allowed by law to entertain procurements.

  • Regulatory Agencies The Office of the Comptroller of the Currency; the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; the Federal Housing Finance Agency; the Securities and Exchange Commission; and the Department of Housing and Urban Development.

  • Local agency means a city, county, or city and county, whether general law or chartered.