What is the role of an agent in a real estate transaction?

What is the role of an agent in a real estate transaction?

• A. To represent the principal
• B. To represent the customer
• C. To oversee the transaction
• D. To provide legal advice

Answer: (A)

The role of an agent in a real estate transaction primarily revolves around representing the principal, which is typically the buyer or seller. An agent acts as a fiduciary, meaning they are required to put the principal's interests above their own and work diligently to ensure a favorable outcome in the transaction. This encompasses tasks such as marketing the property, negotiating terms, and facilitating communication between all parties involved. While providing oversight and guidance throughout the transaction is part of the agent's responsibilities, it is fundamentally about advocating for the principal's needs and objectives. The agent's job is not to represent the customer in a transactional sense, as that would imply a conflict of interest when there is a principal involved. Additionally, while agents can provide general information and assist with understanding various aspects of the transaction, they are not licensed to provide legal advice, which should be sought from a qualified attorney. Thus, the primary focus is clearly on representing the principal throughout the entire process.

The role of an agent in a real estate transaction primarily revolves around representing the principal, which is typically the buyer or seller. An agent acts as a fiduciary, meaning they are required to put the principal's interests above their own and work diligently to ensure a favorable outcome in the transaction. This encompasses tasks such as marketing the property, negotiating terms, and facilitating communication between all parties involved.

While providing oversight and guidance throughout the transaction is part of the agent's responsibilities, it is fundamentally about advocating for the principal's needs and objectives. The agent's job is not to represent the customer in a transactional sense, as that would imply a conflict of interest when there is a principal involved. Additionally, while agents can provide general information and assist with understanding various aspects of the transaction, they are not licensed to provide legal advice, which should be sought from a qualified attorney. Thus, the primary focus is clearly on representing the principal throughout the entire process.