Glossary of Terms
A real estate agent is a licensed professional who represents buyers, sellers or both parties in a property transaction, acting as an intermediary in negotiations, disclosures and the contract process. Their role is defined by the fiduciary duties owed to their client.
In a typical transaction, the listing agent represents the seller's interests while the buyer's agent advocates for the purchaser. Both play an active role in facilitating timelines, coordinating inspections and managing the details that move a deal from contract to closing. When a single agent represents both parties, the arrangement is known as dual agency — a practice that carries disclosure requirements and potential conflict-of-interest considerations.
For appraisers and valuation professionals, agent-reported data — including concessions, days on market and listing history — provides important context when analyzing comparable sales. Loan originators should recognize that agent relationships can influence transaction dynamics, making it essential to confirm that all parties are acting independently and without undue influence during underwriting review.