Agency, Who represents who? Why should you care? Experience... The Difference
Tracy Stepp, GRI Realtor® / Broker 800-719-1541	What others are saying about the experience: "Thank you for all your hard work and diligence in helping us get our new home. You have been awesome every step of the way! We will definitely recommend you if anyone we know needs a Realtor.  We could not have 'made it through the bumpy road with the wheels still on' without your guidance.  Take care and we would love for you to see the house after we move in."  - Lee & Tracy "Thanks again for all of your efforts with the numerous details of my relocation/selling process.  The pictures are great.  I will reference these again one day, and I greatly appreciate your thoughtfulness.  I thought you did an excellent job throughout the entire process."   - Brian "Thank you for all your hard work. You give 100% and more. That's very rare. Working with you was a pleasure. Thank you for getting the house sold so quickly! If you're ever in Texas please look us up, Take care" - Lance & Kara "Being first time home buyers we were unfamiliar with all the "home buying" language. Tracy went out of his way, any time of the day, to make sure we had all our questions answered. We are very happy in our first home. Thank you for all your help". - Darren & Marianne More...
Home Search
Email Tracy
Resume'
Buyer Info
Seller Info
My Listings
Audio Message
Links Page
FREE REPORTS *  Benefits of Home Ownership * Top 10 Buyer Mistakes * More Money For Your House * Thinking of Building New? Community Profiles * Carmel, IN * Cicero, IN * Fishers, IN * Indianapolis, IN * Noblesville, IN * Sheridan, IN * Westfield, IN * Zionsville, IN

Agency

Agency

[Sellers Agent]   [Buyers Agent]   [Limited Agent]

The agency relationship is based on one person representing the interests of another person.
Real estate agents (licensees) are licensed by the state to represent a person for the sale or
leasing of a property. The responsibility of the real estate agent is defined by the state law
relating to agents, the REALTORS® Code of Ethics, and general principles of agency law.

The type of relationship formed between the agent and the client is called a fiduciary
relationship. A fiduciary relationship is one based on trust because the agent owes the
following duties to the client:

• Loyalty
• Diligence
• Confidentiality
• Obedience
• Disclosure
• Accounting
• Reasonable Care

The courts strictly enforce the agency duties so that the client can rely on the agent putting
the client's interests before those of anyone else. The courts also require that the real estate
agent be fair and honest to all parties in all aspects of the transaction.

The source of compensation does not, in and of itself, determine agency. It can be paid by
the buyer, seller, both or neither (subject to restrictions under applicable state law).
However, there must be informed consent, written in advance, as to who is paying.

[Agency]   [Sellers Agent]   [Buyers Agent]  [Limited Agent]

Home  Contact me   Top of Page  My resume  Buyer's info  Seller's info  Home search 

Sellers Agent

[Sellers Agent]   [Buyers Agent]   [Limited Agent]

Historically throughout the country, real estate agents have represented the seller in real
estate transactions. Sellers are accustomed to having agents work for them and represent
them in selling their real estate. When a seller lists real estate for sale, the licensee working
with the seller becomes the seller's agent to sell that real estate. That licensee owes all the
fiduciary duties to the seller and not to buyers interested in the home.

Seller's agents represent only the seller and not the buyer. However, a seller's agent must
treat buyers fairly and honestly. Also, state law requires that seller's agents disclose the
existence of material defects in the seller's real estate.

A seller's agent will work diligently to market and sell the seller's real estate and obtain a
satisfactory price for the real estate.

[Agency]   [Sellers Agent]   [Buyers Agent]  [Limited Agent]

Home  Contact me   Top of Page  My resume  Buyer's info  Seller's info  Home search 

Buyers Agent

[Sellers Agent]   [Buyers Agent]   [Limited Agent]

Since 1994, Buyer Agency has become a prevalent form of agency in Indiana. Buyers
appreciate knowing their interests are represented by the agent and the agent is working for
the buyer only and not for the seller.

When a buyer is represented by an agent, all the fiduciary duties are owed to the buyer by
that agent. The buyer has the freedom to discuss the value of properties and personal
finances and negotiate strategies with the agent. The buyer can obtain the opinion of the
agent concerning the condition of the property, the effect of improvements, the seller's
motivation for selling, and a variety of information which a seller's agent cannot provide.

A buyer's agent will make a commitment to make every reasonable effort to locate the
property described by the buyer.

However, Tracy Stepp, will act as a buyer agent only with respect to selected properties
listed through the MLS system of the Metropolitan Indianapolis Board of Realtors. Buyers with
whom Tracy Stepp has an established a buyer agency relationship with, and who desire information
pertaining to properties not listed through the MLS system should discuss their interest in the
Non-MLS property with Tracy Stepp, who may advise buyer to seek separate independent
representation, or if seller/owner is willing to work with, & the parties agree to compensate
Tracy Stepp, then a limited agency arises, the clients and Tracy Stepp may agree to modify
the agency relationship, see Limited Agency.

[Agency]   [Sellers Agent]   [Buyers Agent]  [Limited Agent]

Home  Contact me   Top of Page  My resume  Buyer's info  Seller's info  Home search 

Limited Agent

[Sellers Agent]   [Buyers Agent]   [Limited Agent]

Licensed licensees of Real Estate Brokers list properties for sale, thereby forming an agency
relationship with the seller. Throughout the listing period the seller develops an increasing
level of trust in the agent, who is obligated to put the seller's interests first.

That same licensee may also form an agency relationship with buyers, who develop an
increasing level of trust in the agent, who is obligated to put the buyer's interests first.
A particular buyer may be interested in purchasing a property that is listed by the buyer's
agent, and this situation creates a limited agency. Technically, a limited agency arises when
one licensee or agent has a relationship with two clients who have opposing goals (Buyer and seller).
Very often the clients are working with different agents who do not have a personal
relationship with the other client. When a limited agency is formed, the agency relationship
is altered and the agent will notify each client.

If a limited agency arises, the clients and agents agree to modify the agency relationship.
The agents must not disclose any information that would create a negotiating advantage for
either client. The agents must treat the interests of the buyer and seller equally.

[Agency]   [Sellers Agent]   [Buyers Agent]  [Limited Agent]

Home  Contact me   Top of Page  My resume  Buyer's info  Seller's info  Home search 

Tracy Stepp is an experienced Real Estate Agent who is an expert in the Noblesville Indiana Real Estate Market and the surrounding  communities of; Carmel, Fishers, Westfield, Indianapolis, Cicero, Hamilton County Indiana Real Estate, Geist & Morse Lake Real Estate.

   * * * *  Noblesville Indiana Realtor CALL TOLL FREE 1-800-719-1541  * * * *

Tracy Stepp is a Real Estate Agent Serving the Central Indiana area including: Noblesville, Carmel, Fishers, Westfield, Indianapolis, Cicero, Arcadia, Sheridan, Pendleton, Lapel, Atlanta, Hamilton County, Morse Lake, Geist Lake.

Tracy Stepp, GRI
Realtor® / Broker
FC Tucker Co. Inc.
100 Lakeview Dr.
Noblesville IN 46060
800-719-1541

Agency, Who represents who? Why should you care? [Agency]  [Sellers Agent]  [Buyers Agent]  [Limited Agent]

Home  Contact me   Top of Page  My resume  Buyer's info  Seller's info  Home search 

   * * * *  Noblesville Indiana Realtor CALL TOLL FREE 1-800-719-1541  * * * *

Awarded Top 10% in the Nation for Consumer Satisfaction by the Internet Consumer Group

Noblesville Indiana Real Estate
   * * * * * * * * *  CALL TOLL FREE 1-800-719-1541  * * * * * * * * *