Username: Password: Remember me?

Additional Links:

Just Listed! - Free Daily Alert: Be the first to know. Receive emails of all newly listed homes with our Buyer Match system!
Need the added exposure of the MLS?: Just like Henry Ford revolutionized the car industry by developing a system to build cars affordably, Countdown Realty has developed a better system for selling (and buying) real estate. Click here to find out more...
Tired of talking to machines?: Wouldn't you, just once, like to call a number on a yard sign and actually talk to a person? How about if that person not only answered your question and gave you more information about that property, but also told you about other nearby properties? And what if they could arrange for those properties to be shown to you in as soon as 30 minutes from your call, no matter what broker's name is on the yard sign? Intrigued, just follow this link...
Post Your Home: List your home in the OwnerList.com directory. Free ads or more deluxe paid ads in this very website. Increase your exposure and your marketing power.
Buyer? Seller? Need to hire the BEST agent ?: No - we never name any of our licensees - that's not our job! We evaluate the agents in the area and them rank them in their ability to get your job done and then we place them in contact with you. Up to three agent names given for any gig.
Attention Real Estate Brokers!: Learn how to get a great listing tool - and a powerful buyer magnet - without changing any aspect of your business. If you're trolling websites like this looking for business - why not find out how you can have business come to you!
Class of 2025?: Have a child that you're going to have to put through college? Learn about a great investment opportunity.
Looking for a house you can't find here?: Let's face it - for every house posted here there are ten more listed in the MLS. Unless you already have an agent working for you, just click here to find out more about our 'buyer-centric' service that money can't buy ( because it's free, and with no obligation too!)
Promote your business: Promote your business or service in this space! Click Here for details.

Agency 101 - A Basic Course on Agents and Representation

Note: The terms "agent" and "broker" will be used interchangeably in this discussion. Officially, a group of agents will have their licenses placed with a broker who is charged with the full-time responsibility of supervising their real estate activities. Only brokers may receive and disburse commissions.

All Missouri brokers should distribute a broker's disclosure form which explains the agency relationships in some detail as well as indicating which forms of agency they practice. Those forms should be given to you by any broker you have substantial contact with.

Let's focus on agency as it relates to a contract offer.

The current residential sales contract used locally has six possible agency designations for the licensed agent working with the buyer:

Buyer's Agent: acting on behalf of the Buyer.
- Good news: The agent is working on your behalf and owes you certain fiduciary responsibilities
- Bad news: You have to sign a contract that binds you exclusively to that broker.
- Bad news: That binding contract may be difficult and costly to break.
Seller's Agent: acting on behalf of the Seller.

Bad news: The agent is not working for you and owes you only honesty and disclosure of pertinent facts.

Bad news: The agent receives a commission which removes the opportunity of your benefitting from no commission.

Dual Agent: acting on behalf of both the Buyer and the Seller.

Bad news: The agent is earning two commissions and is trying to serve two masters at once.

Designated Agent: acting on behalf of the Buyer.

Good news: It is just like Buyer's Agency in that someone is working for you; and;

Bad news: The binding contract issues remain the same, but also;

Bad news: The Broker has assigned some agent, maybe not the one you wanted, to represent you.

Transaction Broker: not acting on behalf of either the Buyer or the Seller.

Good news: This is the preferred form of brokerage for FSBOs.

Good news: When FSBO Showcase's brokerage offers this, we reduce commissions from (roughly) 3% to as low as 0.5%.

Subagent of Seller: acting on behalf of the Seller.
- Good news: Unless the Seller is completely foolish, this should never happen with a FSBO.

As the Buyer, you will ultimately determine how and when a contract offer will be made.

If you want to avoid some problems surrounding the contract offer, please read our short lesson on "Making Yourself the Best Buyer for the Home You Want to Buy." For your convenience here's a shortcut.

This site operated by OwnerList.com — (636) BY-OWNER / (636) 296-9637

Homebuyer Services (Preferred provider):
Buyers Only Real Estate — (314) 414-ASAP (2727)

Transaction Brokerage Services (Preferred provider):
Countdown Realty — 1-800-321-SOLD (7653)

St. Louis For Sale By Owner Flat Fee Transaction Brokerage MLS

This HomesByOwner site independently owned and operated.

Menu

Agency 101 - A Basic Course on Agents and Representation

Let's focus on agency as it relates to a contract offer.

As the Buyer, you will ultimately determine how and when a contract offer will be made.

If you want to avoid some problems surrounding the contract offer, please read our short lesson on "Making Yourself the Best Buyer for the Home You Want to Buy." For your convenience here's a shortcut.