There are so many terms used all over the internet when referring to a representation in a real estate transaction, there’s the common terminology and then there’s the industry lingo that may confuse people. I want to explain who represents whom in a transaction and what the lingo you hear means.
Common terms may include:
Listing Agent – the agent who “lists” the property for sale and represents the best interests of the sellers
Seller’s Agent – the agent who represents the best interests of the sellers
Buyer’s Agent – the agent who represents the best interests of the buyers
Selling Agent – the agent who “sells” the property to the buyers and represents the best interests of the buyers
Designated Representative – this occurs when 2 agents from the same office are in 1 transaction, 1 agent represents the seller and 1 represents the buyers, but each has their own agent
Dual Agency – this occurs when 1 agent represents both the buyers and the sellers in a sale of a property
I hope that helps clear up some confusion in paperwork and in language you’ll see when people are referring to real estate transactions.