Brokers today operate in three fashions: sellers broker, buyers broker and transactional broker. Sellers brokers are required to represent the interests of the Seller only. Buyers brokers protect the buyer's interests. Most brokers are operating as transactional brokers. Transactional brokers are required to get your signature acknowledging that you know and agree to them operating as a transactional broker. Transactional brokers are required to deal fairly and honestly with the public, however they are not really representing the interests of the buyer or the seller. Transactional brokers are to "facilitate the sale". Sellers should never give information to a transactional broker that they wouldn't want a prospective buyer to know.
It is important that you understand who the broker is working for.
It is common for clients to hire an attorney because they have learned, too late, that they contracted to sell their home for thousands of dollars below market value. Knowledge is essential. Don't get it too late.
