What is a subagent? A subagent is a real estate agent or broker who brings in the buyer to purchase a property,but he is not the property listing agent. The subagent usually earns a portion of the commission.
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What is subagency in real estate?
Subagency is a real estate practice in which the agent who brings the buyer is really working for the seller as a subagent of the listed firm. This is crucial because the agent who is working with the buyer really owes fiduciary responsibilities to the seller, not the buyer, in this situation.
What is the difference between a buyer’s agent and a subagent?
Some states do not permit subagents in real estate transactions. Subagents have been replaced in many cases with a buyer’s agent. A buyer’s agent (or buyer’s representative) is the agent of the buyer and owes a fiduciary duty to the buyer rather than to the seller.
What is a sub agent in real estate?
A sub agent is a real estate licensee who provides services to a buyer while also acting as the seller agent in a real estate transaction. While working with a buyer, an agent fiduciary obligations are really owed to the seller, not the buyer.
What is the difference between a subagent and a disclosed Agent?
The subagent works with the buyer to show the property but owes fiduciary duties to the listing broker and the seller. A disclosed dual agent represents both the buyer and the seller in the same real estate transaction.