What is the primary aim of a seller representation agreement?

The primary aim of a seller representation agreement is to establish rights and obligations between the seller and the brokerage. This agreement creates a formal relationship that clarifies the roles and responsibilities of both parties involved in the real estate transaction. It ensures that the seller understands what services the brokerage will provide, as well as what is required from the seller in terms of cooperation, information sharing, and any other obligations relevant to the sale of the property.

This agreement also outlines elements such as the duration of representation, the confidentiality of information, and the scope of the brokerage’s authority to act on the seller's behalf. By defining these parameters, the seller representation agreement helps to protect both the seller's interests and the brokerage's interests while facilitating a smoother transaction process.

Other options focus on specific components or stakeholder interests. While protecting the brokerage's interests is important, it is not the primary aim of the agreement; rather, it's a secondary benefit arising from a well-structured agreement. Facilitating buyer negotiations is not a function of the seller representation agreement but rather a concern for the buyer’s representation. Lastly, outlining commission structures is a part of the agreement, but it is just one component of the broader objective of establishing rights and obligations.