What distinguishes a buyer's agent from a seller's agent?

Get ready for the Michigan Real Estate Salesperson Licensing exam. Study with multiple choice questions and hints, ensuring you're fully prepared for your exam!

A distinction between a buyer's agent and a seller's agent is predominantly rooted in whose interests they represent in a real estate transaction. A buyer's agent is specifically engaged to advocate for the buyer's best interests, providing support and guidance throughout the home-buying process, including negotiating terms, identifying suitable properties, and navigating the complexities of purchase agreements. Conversely, a seller's agent, often called a listing agent, works on behalf of the seller, focusing on marketing the property, setting appropriate pricing, and negotiating offers to achieve the best possible terms for the seller.

This clear differentiation in roles and responsibilities is essential in real estate transactions to ensure that each party receives appropriate advice and representation tailored to their needs. The relationship is fundamental to the structure of real estate brokerage, highlighting the varied forms of agency in property transactions.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy