Who you gonna call? Are you buying or selling?
A real estate agent usually works for a real estate broker. The broker has the final responsibility for all the transactions of the particular office.
The agent may represent the person selling the property (listing agent) or the agent may represent the person buying the property (buyer's agent). If one person represents both seller and buyer, they are considered a dual agent.
California law requires an agent to disclose (inform) to the client the nature of the agency relationship.
It is the responsibility of the listing agent/seller's agent to get the best possible price for the person selling the property. The listing agent would not be responsible to get the lowest price possible if they also represent the buyer.
There is a catch in this system. There may be a transaction in which the seller's agent and a buyer's agent in a transaction both work for the same broker. That transaction is considered a dual agent transaction. However each agent is able to independently represent their own client.
Some common thinking is that the dual agent will reduce the commission or transaction costs. The commission paid to the real estate agent(s) for the sale of the property is in the contract between the seller and their agent. The real estate commission is paid from the buyer's funds at the close of escrow.
It is my suggestion that you work with an agent that can represent your best interests. If you are buying, get a buyer's agent. If you are listing, get a seller's agent. There is nothing unethical about one agent representing both sides of the transaction. It is merely placing the agent in a difficult position to properly represent both sides of the transaction without being unfair to one party.
Who you gonna call?
Here is Mike and Molly. Sunday afternoon they are out for a drive. They are talking about buying a house. They go by a nice house with a sign in the front yard.
Molly says, "Wonder what they want for that house?"
While Mike is hitting the brakes and backing up to see the sign he says, "That's a no brainer. I'll find out right now. I'll call the number on the sign."
That is good to do. But, what if Molly was already savvy about real estate agency? She might say, "Mike, that number is to the listing agent. Don't we want to call an agent to represent us?"
Plan ahead!
It just makes good sense to get a buyer's agent to represent you before contacting the listing agent. Let me make a suggestion. You may not be ready to buy a house right now. There is a lot to learn before you get into the market. The work of a buyer's agent is to get you prepared for the many issues of buying a house.Connect with an agent who will represent you. The buyer's agent will be happy to give you information about houses you see for sale and prepare you for making acceptable offers to sellers. The buyer's agent can guide you through the process. When you are working with a good buyer's agent, you enjoy the home buying experience.