Like any industry, Real Estate has its own language of jargon and terminology. Agents are categorised as either a seller’s agent or a buyer’s agent:
Seller’s agent or seller’s representative: this is the Real Estate Agent hired by the seller of the property usually under the terms of a listing contract, and they represent the interests of the seller in the transaction.
Buyer’s agent of buyer’s representative: on the other hand, the buyer’s agent is hired by the buyer and will represent their interests. They may be paid directly by the buyer with a set fee, or may be part of split commission with the seller on the sale of the property.
Agents in conjunction: the term for when more than one real estate agent is appointed to sell a property, in which cases commission is split between the agents.
Vendor: the owner of the property, ie. The seller.
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