When a real estate brokerage represents a seller, it must do what is best for the seller of a property.
The listing agreement, also called the written contract, creates an agency relationship between the seller and the brokerage. This agreement then establishes the seller representation. It also explains services the brokerage will provide and establishes a fee arrangement for the REALTOR®'s services. The agreement also specifies what obligations a seller may have.
When it comes to the seller's agent, they must tell the seller anything known about a buyer. For example, if a seller's agent knows a buyer is willing to offer more for a property, that information must be shared with the seller.
The information that a seller shares with a seller's agent must be kept confidential from potential buyers and others.
Confidential information about the seller cannot be discussed. However, a buyer working with a seller's agent can expect fair and honest service from the seller's agent. This includes the disclosure of pertinent information about the property.