Who does the real estate agent work for

Who does the real estate agent work for?

Explain Buyer Agency.

Tennessee real estate law legally explains buyer agency.

Explain Seller Agency.

Tennessee real estate law legally describes seller agency.

Explain Transaction Broker or Facilitator.

Tennessee real estate law legally describes transaction broker or facilitator.

Explain Designated Agency.

Tennessee real estate law legally describes designated agency.

What are some of the major concerns real estate consumers should be aware of when working with a real estate agent?

I suggest you learn more about agency and the real estate business from some studies the Consumer Federation of America has conducted. Adobe Acrobat is required to view the Web sites listed below. (Click here) to download Adobe Acrobat Reader and open Adobe Acrobat Reader on your computer.

"Study Finds Home Buyers Not Represented and Overcharged".

Click >> http://www.consumerfed.org/homebuyer.pdf . Requires Adobe Acrobat

Buying A Home What Home Buyers & Sellers Need To Know About Real Estate Agents

Click>> http://www.consumerfed.org/ publist.html Go to brochures then click on Home Buying

Older articles Click>> http://www.consumerfed.org/releases.html

We are proud to say our company recognizes the concerns that the Consumer Federation of America (CFA) points out that home buyers and sellers need to know. CFA has 50 million members nationwide through 250 organizations. By Not Double Dipping on the real estate commission our company over comes one of the biggest conflicts of interest that affects most real estate companies when serving buyers and sellers.

What do you see as the biggest conflicts of interest real estate agents have when representing home buyers?

I'll give three examples of conflicts of interest many agents will face when serving home buyers and sellers.

Example (1) Time versus money. The real estate sales commission income is only paid if the sale is completed. The quicker the sale the better the income. The more time the buyer looks for a home the better it may be for the buyer but income for the agent's time drops the longer the buyer shops. When the agent is working with an especially slow or picky buyer it takes away time the agent could be working with another buyer who moves quicker and is less picky.

Example (2) Serving informed versus uninformed realty consumers. Buyers who are not informed deserve the same level of service as those who are more informed. Too often it is easier for an agent to only rise to the level of the buyer's expertise and/or expectations when providing services. If the buyer knows less and requires less of the agent this does not mean the agent should do less, in our opinion.

Example (3) Selling In House Listings (double dipping). Since most agents and companies who list homes and work with buyers can benefit substantially from selling their own listings, it is a financial temptation and fiduciary obligation for agents who represent sellers to push those listings to their buyers.

Where do you see the online real estate business going?

That is hard to predict, but to learn more about it's growth so far you may want to read this article (12 page article) Real Estate Online Services.