As an agent at Ferguson Realtors you’ll have an opportunity to work some of the many referrals and leads that we obtain on a daily basis. A large percentage of our referral business comes from our affiliation with Leading Real Estate Companies of the World®. We also collect a high volume of leads from our 50+ websites domains that we maintain and manage.
Give us a call at (865) 690-1300 to schedule your confidential interview. We are looking for both seasoned real estate professionals and folks that are just starting their real estate career.
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, or the buyer’s rep may be paid by the seller or through a commission split with the seller’s agent.
A subagent owes the same fiduciary duties to the agent’s customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer’s agent, shows property to a buyer. The subagent works with the buyer to show the property but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer customer can expect to be treated honestly by the subagent.
A disclosed dual agent represents both the buyer and the seller in the same real estate transaction. In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients. Because of the potential for conflicts of interest in a dual-agency relationship, all parties must give their informed consent. Disclosed dual agency is legal in most states, but often requires written consent from all parties.
Designated agents (also called appointed agents) are chosen by a managing broker to act as an exclusive agent of the seller or buyer. This allows the brokerage to avoid problems arising from dual-agency relationships for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties.
A transaction broker (sometimes referred to as a facilitator) is permitted in states where nonagency relationships are allowed. These relationships vary considerably from state to state. Generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.
As one works each day in real estate, every day is a new day. Boredom is not an option and meeting new people is a must. In addition, real estate agents gain invaluable skills such as marketing, sales, operations, negotiations and networking. Most real estate agents operate as independent contractors, which mean they decide their own business model and set their own schedule.
Working at a local real estate firm adds value to the community by helping fellow residents and new neighbors realize their dream of home ownership. Not only can it be personally rewarding, but practicing real estate is also a great way to network and meet new people in the community.
If you think that you might be interested in a real estate career, go to www.KnoxBest.com to find out more.
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