When buying or selling real estate, you may find it helpful to have a real estate agent assist you.  Real estate agents can provide many useful services and work with you in different ways.  In some real estate transactions, the agents work for the seller.  In others, the seller and buyer may each have agents.  And sometimes the same agents work for both the buyer and the seller.  It is important for you to know whether an agent is representing you as your agent or simply assisting you while acting as an agent of the other party.  

Seller's Agent:

If you are selling real estate, you may want to "list" your property for sale with a real estate firm.  If so, you will sign a "listing agreement" authorizing the firm and its agents to represent you in your dealings with buyers as your seller's agent.  You may also be asked to allow agents from other firms to help find a buyer for your property.

Duties to Seller:  The listing firm and its agents must promote your best interests, be loyal to you, follow your lawful instructions, provide you with all material facts that could influence your decisions, use reasonable skill, care and diligence and account for all monies they handle for you.  

Once you have signed the listing agreement, the firm and its agents may not give any confidential information about you to prospective buyers or their agents without your permission so long as they represent you.  But until you sign the listing agreement, you should avoid telling the listing agent anything you would not want a buyer to know.  

Buyer's Agent:

When buying real estate, you may have several choices as to how you want a real estate firm and its agents to work with you.  For example, you may want them to represent only you (as a buyer's agent).  You may be willing for them to represent both you and the seller at the same time (as a dual agent).  Or you may agree to let them represent only the seller (seller's agent or subagent).  Some agents will offer you a choice of these services.  Others may not.  

Duties to Buyer:  If the real estate firm and its agents represent you, they must promote your best interests, be loyal to you, follow your lawful instructions, provide you with all material facts that could influence your decisions, use reasonable skill, care and diligence and account for all monies they handle for you.  Once you have agreed (either orally or in writing) for the firm and its agents to be your buyer's agent, they may not give any confidential information about you to sellers or their agents without your permission so long as they represent you.  But until you make this agreement with your buyer's agent, you should avoid telling the agent anything you would not want a seller to know.  

Dual Agent:

You may even permit the listing firm and its agents to represent you and a seller (or buyer) at the same time.  This "dual agency relationship" is most likely to happen if you become interested in a property listed with your buyer's agent or the agent's firm.  It may be difficult for a dual agent to advance the interests of both the buyer and the seller.  Nevertheless, a dual agent must treat buyers and sellers fairly and equally.  Although the dual agent owes them the same duties, buyers and sellers can prohibit dual agents from divulging certain confidential information about them to the other party.