What is the difference between Dual, Designated & Unrepresented?
Dual: You represent both seller and buyer. (National Realty does not allow Dual.)
Unrepresented: As Listing agent, you represent the seller but are writing a contract for a buyer of your listing. You will write in any price and terms buyer desires.
(This usually occurs if you are doing an Open House for your listing.)
Designated: Buyer says he does not want unrepresented, so you designate Keith to represent that buyer using that form. (Very rare.)
You would submit to your seller the Sales Contract, Finance addendum, copy of EMD, Lender letter and the unrepresented form.
Both Unrepresented or Designated mean you as agent will now receive commission for both seller and buyer sides. $$$
This has been another exciting Training in a Minute.
Keith