What is the difference between "transaction broker" and "sellers agency"?

Question

I need someone to explain this to me like I am in kindergarten.

Answer 1

OK, like kindergarten...

If you want to buy a house, you need to have somebody - a real estate agent - who's on your side. That's a buyer's agent. The people selling the house have a seller's agent - that person is on the seller's side. The rules say that if you don't have anybody (that's not a good thing to do), and just go around (no driving in kindergarten), asking the seller's agent to show you the house each time, they can still be on the seller's side only even though they help you write the papers. That's called sellers agency. The rules also let the company with the sign in the yard help both sides the same, but not really work on the side of the buyer or the seller - that's a transaction broker - he has the sign in the yard, but he's going to help out on both sides. With transaction brokerage, he can't "fight" for one side to win.

The best way is this - before you start to look at the houses, find a buyers agent that you think will do a good job for you. They have cars too, and can drive you to the houses. Don't forget to always wear your seat belt.

Answer 2

A Transaction Broker is only in an agency agreement with that one transaction, or it could also mean that the agency handles both sides of the sale and listing. The sellers agency is usually the listing company that holds the listing.