What is the difference between a buyers’ agent and a selling agent?
The key difference between a buyers’ agent and a traditional selling agent is who they represent. A buyers’ agent works exclusively for the buyer, whereas the selling agent works for the vendor (seller). By law an agent cannot act for (and accept a commission) from both parties in the transaction. An important question to ask a buyers’ agent is whether they are truly “exclusive” or “independent”. If they accept sales commission from vendors or developers then they cannot be classified as “independent” as they are acting in the interests of the seller. Only deal with a licensed buyers’ agent. You can check licences via the Office of Fair Trading in each state.
