WHAT IT MEANS TO YOU THE SELLER
More than 90% of all Outer Banks real estate sales in our MLS are co-brokered with another agent in another company. It used to be that the agent who wrote the offer on your house was a sub-agent of the listing agent. Which, means that the sub-agent was representing you the seller. Or, misrepresenting you.
If the agent working with the buyer somehow gave the buyer some wrong information either unknowingly or knowingly, or made some mistake, then the listing agent and YOU as the seller could be held liable. The agent working as a subagent was employed by you so you could be responsible for their actions.
NOT with us! We will only cooperate (MLS terminology for split a commission) with agents who are using buyer agency to represent the buyers. This way the buyer's agent is working for the buyer and not for you or us.
You the seller are now protected. Here's how. We will only share the commission with agents who are working as buyer agents.
This simple strategy puts up a shield between the buyer and you. If the buyer's agent makes a mistake then the buyers go after their agent because of the buyer agency and not you the seller. Buyers these days do not have any problems working with buyer agents. In fact most of the buyers want to have a buyer's agent working for them. All of the agents with the Outer Banks Association of Realtors routinely work as buyer agents.
If the other agent wants to get paid by us for bringing you a buyer, then they had better be a buyer's agent on this listing. We make sure the liability falls in the right place.This is our way of making sure that there is not a "crack" for you to "fall through!"
This will not cost you anything and it will in no way affect the sale of your property. We have been doing this for years and it in no way affects sales.