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This is Brian Shweta and I'm going to go over the residential purchase agreement today and this recording is for buyers and sellers I'm gonna try and stay as neutral as possible and show you the pros and cons for each and so let's just get started with the most important document of the entire transaction which is called the real estate agency relationship and what this is this is the document that says that the realtor has a relationship with the client there are actually three agency relationships there's an agency relationship between the buyer and the buyer's agent there's another agency relationship between the seller and the sellers agent and then there's an actual agency relationship between the seller and the buyer and the buyer's agent because of the fact that the buyer's agent is actually called the selling agent they're selling the house to the buyer they're saying to the buyer this is the best house this is the best area and I here's the pros and cons and the benefits and features of the house and this is the one I think you should buy the listing agent not the selling agent but the listing agent is the one that does all the marketing the preparation all the you know networking and open houses and all of that work that's the listing agent so you'll hear interaction or interchange between the two words buyer's agent or selling agent those are two of the same thing all right so let's get started here with the real estate agency relationship and there is talking about here's the sellers agent and here's the buyer's agent what are the duties of the seller's agent well the duties of the sellers agent they have a fiduciary duty of utmost care integrity honesty loyalty in dealings with the seller okay and that agent the sellers agent or the listing agent is supposed to it has a duty of honest and fair dealing and also to disclose all own facts to the agent material affecting the value or desirability of the property okay now you'll notice that the buyer's agent has pretty much the same exact responsibilities as the sellers agent same thing honest fair dealing good faith and disclosed all known facts now we get down here to the agent representing both the seller and the buyer so in California it's actually legal for the sellers agent or the listing agent to represent both the seller and the buyer now that is a conflict of interest because of the fact that the listing agent is trying to get the highest price for the home for the seller and the buyer's agent is trying to get the lowest price from the seller so if one person is trying to do both of those jobs there is a conflict of interest some people say it's almost like going into court with the same attorney yeah you know and the attorneys trying to say