Understanding Agency & Agency Relationships

The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in the transaction. The seller's representative (also known as a listing agent or seller's agent) is hired by and represents the seller. All fiduciary duties are owed to the seller, meaning this person’s job is to get the best price and terms for the seller. The agency relationship usually is created by a signed listing contract. The buyer's representative (also known as a buyer’s agent) is hired by prospective buyers to and works in the buyer's best interest throughout the transaction. The buyer can pay the agent directly through a negotiated fee

Can Your Rental Application Be Declined?

Finding a rental property that you like, filling out the application and paying an application fee does not guarantee you a new home. Landlords typically have strict rental criteria that all applicants must meet. Property owner and property managers must treat all potential tenants the same, or they run the risk of violating Fair Housing laws. Should you find yourself denied for a rental property, it is because of something discovered in your rental history or background. CREDIT HISTORY Poor credit scores, delinquent accounts, or unpaid accounts on a credit report can put you in danger of being rejected for a rental property. Landlords and property managers need to ensure that tenants will

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