Seller Agency, Landlord Agency, Buyer Agency and Tenant Agency

Each agent owes fiduciary duties to the represented client. The four roles differ mainly in whose result the agent is authorized to pursue, whose confidential information the agent protects and what facts the agent must disclose when dealing with the other side.

The four roles at a glance

All four client relationships carry reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and a duty to account. None authorizes false statements, unlawful discrimination or conduct beyond the agent's authority.

Official source map

The New York State Department of State's 77-hour salesperson curriculum covers seller, landlord, buyer and tenant agency, fiduciary duties, agency disclosure, informed consent and dual agency.

Real Property Law section 443 defines the four residential roles and prints separate disclosure forms for buyer-seller and landlord-tenant transactions. The forms state whom each agent represents, the fiduciary duties to that client and the duties owed when dealing with the other side.

Title 19 NYCRR section 175.7 requires a broker to make clear for which party the broker is acting. Section 175.10 requires owner authorization before offering property for sale or lease. Section 175.21 requires broker supervision of salespersons.

These sources were checked on August 27, 2026. Section 443 applies to its defined residential real property, not every kind of transaction. It also preserves common-law agency rules.

Seller agency

A seller's agent is engaged to represent the seller's interests. The listing broker is the most familiar example, but section 443's definition can also include an agent cooperating with the listing agent, a seller's subagent or a broker's agent working to find a buyer for the seller.

The seller's agent works toward a purchase price and terms acceptable to the seller. That includes lawful marketing, communicating offers, advising the seller about transaction choices and negotiating within the authority granted.

The seller is the client. The buyer is not represented by the seller's agent merely because the agent shows the property, provides a listing sheet or transmits the offer.

What the seller's agent protects

Without authorization or legal obligation, the agent protects confidential seller information such as:

• the seller's minimum acceptable price
• the seller's urgency or private motivation
• preferred timing or negotiation strategy
• willingness to make a nonpublic concession
• confidential financial or personal information

Confidentiality does not allow the agent to invent a competing offer, deny a known material fact or make another misleading statement.

What the seller's agent owes the buyer

Section 443's form calls for reasonable skill and care, honest and fair good-faith dealing and disclosure of known facts materially affecting the property's value or desirability, except as otherwise provided by law.

The agent advocates for the seller while treating the buyer truthfully. Advocacy and deception are not the same.

Landlord agency

A landlord's agent is engaged to represent the landlord's interests in a rental or lease. The listing agent may work alone or with another agent acting in a role recognized by section 443 to find a tenant.

The landlord's agent seeks a tenant at rent and terms acceptable to the landlord. Duties can include accurate advertising, scheduling showings, handling applications under lawful and consistent procedures, presenting offers to lease and communicating the landlord's lawful decisions.

The landlord is the client. A prospective tenant who contacts the listing agent is not automatically that agent's client.

What the landlord's agent protects

Confidential information can include:

• the lowest rent or concessions the landlord may accept
• private timing or vacancy concerns
• lawful negotiating preferences
• confidential financial information
• strategy for renewal, term length or improvements

The agent cannot protect a discriminatory preference. An instruction to reject or discourage people because of a protected characteristic is unlawful and must not be followed.

What the landlord's agent owes the tenant

The landlord-tenant form parallels the sale form. In dealings with the tenant, the landlord's agent should use reasonable skill and care, act honestly, fairly and in good faith, and disclose known facts materially affecting the property's value or desirability, except as otherwise provided by law.

Fair housing, required notices and standardized operating procedures apply to the service process. Calling a renter a customer never permits unequal treatment.

Buyer agency

A buyer's agent is engaged to represent the buyer. Section 443 describes the role as locating residential property, presenting an offer and negotiating on the buyer's behalf.

The buyer's agent helps the buyer evaluate property and transaction terms within the licensee's competence. The agent may research available information, arrange showings, prepare or transmit permitted offer materials, communicate with the other side and negotiate toward price and terms acceptable to the buyer.

The buyer is the client. The seller is not represented by the buyer's agent, even if that agent communicates directly with an unrepresented seller.

What the buyer's agent protects

Confidential buyer information can include:

• the buyer's maximum price
• urgency or preferred property
• private willingness to waive or change a term
• negotiation sequence
• nonpublic personal or financial information

The agent cannot falsely describe financing or hide a fact that lawfully must be disclosed. Protecting a client's ceiling is different from overstating the client's ability to perform.

What the buyer's agent owes the seller

Section 443's form requires reasonable skill and care plus honest, fair and good-faith dealing. It also addresses disclosure of known facts materially affecting the buyer's ability or willingness to perform, when disclosure is not inconsistent with the fiduciary duties owed to the buyer.

That qualification is a common exam point. The agent should communicate verified facts accurately while protecting confidential strategy that the law and client have not authorized the agent to reveal.

Tenant agency

A tenant's agent is engaged to represent the prospective tenant. Section 443 describes an agent who locates residential real property for a tenant, presents an offer to lease and negotiates on the tenant's behalf.

The tenant's agent may help identify available rentals, arrange access, compare terms, prepare or transmit permitted application or offer materials and negotiate rent, duration, concessions and other lawful provisions.

The tenant is the client. The landlord is not represented by the tenant's agent merely because the agent supplies application information or discusses lease terms.

What the tenant's agent protects

Confidential information can include:

• the tenant's maximum rent
• urgency or preferred building
• private willingness to change move-in timing
• negotiating strategy
• nonpublic personal or financial information

Fair housing law does not prevent legitimate, consistently applied financial qualification. It does prohibit unlawful distinctions, including discrimination based on protected characteristics and lawful source of income under applicable New York law.

What the tenant's agent owes the landlord

The statutory form contains the parallel customer-facing rule: reasonable skill and care, honest and fair good-faith dealing, and disclosure of known facts about the tenant's ability or willingness to perform that are not inconsistent with duties owed to the tenant.

The form text contains an apparent reference to duties to the “buyer” in this tenant paragraph. Students should understand the intended parallel structure without silently rewriting the official form. The tenant is the represented principal in the rental role.

The agency agreement and disclosure form do different jobs

An agency or representation agreement establishes the working relationship and its terms. The section 443 disclosure form explains the role and rights and records receipt. The statutory form states that it is not a contract.

For covered residential transactions:

• A listing agent gives the form to the seller or landlord before entering the listing agreement.
• A seller's or landlord's agent gives the form to the buyer or tenant at first substantive contact.
• A buyer's or tenant's agent gives the form to the buyer or tenant before entering an agreement to act as that person's agent.
• A buyer's or tenant's agent gives the form to the seller, landlord or appropriate listing agent at first substantive contact with that side.

The agent gives the party a copy of the signed acknowledgment and retains a copy for at least three years. If a party refuses to sign, section 443 requires a written declaration of the refusal facts under oath or affirmation and retention for at least three years.

A listing requires owner authorization

Agency begins with authority, not advertising. Section 175.10 prohibits a broker from offering property for sale or lease without the owner's authorization.

A salesperson who hears that an owner may sell or rent cannot publish the property as a brokerage listing. The listing belongs within the representative broker's business and must rest on actual owner authority.

The scope of authority also matters. Authority to market and negotiate does not ordinarily mean authority to sign a deed, lease or contract for the client. Read the agreement and the facts.

Compensation does not identify the agent's client

Who pays or funds compensation does not by itself decide representation. The agency agreement, disclosure and conduct identify the client.

Section 175.7 requires the broker to make clear for which party the broker is acting. It also restricts compensation from more than one party without the broker client's full knowledge and consent. Compensation consent and dual-agency consent answer different questions and should not be combined.

On an exam, resist this shortcut: “The seller paid, so every broker represents the seller.” The correct role depends on the agency relationship, not a payment assumption.

Cooperation does not automatically create subagency

Two brokers may cooperate in a transaction without both representing the property owner. One may represent the seller while the other represents the buyer. The same distinction applies in rentals with landlord and tenant agents.

Subagency and broker's agency are separate legal roles with different direction and liability consequences. The next article examines that distinction in detail.

For this article, remember that access to a listing or an offer of cooperation does not by itself answer whom the cooperating agent represents.

Dual agency changes the four-role model

If the same broker represents both buyer and seller, or both landlord and tenant, dual agency exists. In a covered residential transaction, both principals must give informed consent in writing.

The dual agent cannot provide either side the full range of fiduciary duties. New York's form specifically warns about the loss of undivided loyalty. The broker must explain the conflict and the possible effects of the representation.

Dual agency with designated sales agents still places the brokerage broker in dual agency. With informed written consent, one designated agent advocates for one side and another for the other side, but the form says the designated agents cannot provide the full range of fiduciary duties or undivided loyalty.

Fair housing applies in every role

Seller, landlord, buyer and tenant agents all must comply with fair housing law. A client's preference does not override the law.

Examples of unlawful role-based conduct include:

• a seller's agent steering buyers based on a protected characteristic
• a landlord's agent applying different screening standards to different groups
• a buyer's agent selecting neighborhoods based on the racial composition requested by a client
• a tenant's agent refusing service because of lawful source of income

An agent should provide consistent information and opportunity, follow written procedures and escalate accommodation or legal questions appropriately.

Twelve worked scenarios

Scenario 1: listing broker meets a buyer

A broker lists a seller's home and shows it to an unrepresented buyer.

The broker remains the seller's agent. Showing the home does not automatically create buyer agency.

Scenario 2: buyer engages separate broker

A buyer signs a representation agreement with a brokerage that presents an offer to the listing agent.

That brokerage is the buyer's agent. The listing brokerage represents the seller.

Scenario 3: seller's minimum price

The seller privately tells the listing agent the lowest acceptable price.

The information belongs to the seller's confidential negotiating position and should not be disclosed without authority or legal requirement.

Scenario 4: buyer's maximum price

The buyer tells the buyer's agent the maximum amount available.

The buyer's agent protects that ceiling while negotiating honestly.

Scenario 5: landlord's agent advises tenant on lowest rent

The listing agent tells the tenant which offer best defeats the landlord's position.

The agent has crossed from factual help into advocacy against the landlord client.

Scenario 6: tenant's agent exaggerates qualification

The tenant's agent says final financial approval exists when the agent knows review is incomplete.

Tenant advocacy does not permit a misleading statement to the landlord.

Scenario 7: seller instructs discrimination

A seller tells the agent not to show the home to families with children.

The agent must refuse. Obedience covers lawful instructions only.

Scenario 8: disclosure form signed after contract

A seller's agent first gives the buyer the section 443 form after a binding contract is signed, despite having substantive contact earlier.

The form was not delivered at the statutory first-substantive-contact time.

Scenario 9: buyer refuses to sign disclosure

The buyer refuses to acknowledge the form.

Refusal does not erase the agent's duty. Section 443 calls for the sworn or affirmed written declaration and three-year retention.

Scenario 10: payment comes from the other side

A buyer's agent receives compensation through a permitted arrangement funded at closing from the seller side.

Payment alone does not convert the buyer's agent into a seller's agent. Apply the actual representation and compensation-consent rules.

Scenario 11: listing without authorization

A salesperson posts an owner's property online after an informal conversation, but the owner never authorized an offering.

Section 175.10 requires owner authorization before the property is offered for sale or lease.

Scenario 12: same brokerage represents both sides

One brokerage represents the seller and a buyer in the same residential sale.

The facts raise dual agency. Informed written consent and the limits of dual representation must be addressed.

A four-question exam method

1. Is this a sale or a rental?
2. Which side engaged the broker to advocate?
3. What confidential information and objective belong to that client?
4. What disclosure, fair-dealing and fair housing duties apply to the other side?

Then check for dual agency, subagency, a broker's agent or designated agency before selecting the answer.

Common misconceptions

“The listing agent represents everyone who visits the property”

False. The listing agent represents the seller or landlord unless another disclosed and consented agency arrangement applies.

“A buyer's agent can reveal the buyer's ceiling to prove seriousness”

Not without authority or legal reason. The maximum price is ordinarily confidential negotiating information.

“A landlord's agent must obey every screening instruction”

False. Unlawful discriminatory instructions must be refused.

“A signed disclosure form is the agency contract”

False. The statutory form says it is not a contract.

“The person paying compensation is automatically the client”

False. Payment and representation are separate issues.

“Cooperating with a listing agent always makes the other broker a seller's agent”

False. The cooperating broker may be a buyer's agent, subagent or broker's agent, depending on the actual relationship.

“Tenant agency is just informal apartment help”

False. A tenant's agent represents the tenant and owes the same listed fiduciary duties that apply in the parallel client roles.

Frequently asked questions

What does a seller's agent do in New York?

A seller's agent represents the seller, seeks a buyer on terms acceptable to the seller, protects the seller's lawful confidences and deals honestly and carefully with buyers.

What does a landlord's agent do?

A landlord's agent represents the landlord in finding a tenant and negotiating rent and lease terms acceptable to the landlord, subject to fair housing and other law.

What does a buyer's agent do?

A buyer's agent represents the buyer in locating property, presenting an offer and negotiating price and terms acceptable to the buyer.

What does a tenant's agent do?

A tenant's agent represents the prospective tenant in locating a rental, presenting an offer to lease and negotiating rent and terms.

Do all four agents owe fiduciary duties?

Yes. Each owes reasonable care, loyalty, confidentiality, full disclosure, obedience and accounting to the represented client, subject to any lawful limitation such as informed dual agency.

When is the New York agency disclosure form due?

Timing depends on the role. Listing agents provide it before the listing agreement. Seller's and landlord's agents give it to the other side at first substantive contact. Buyer's and tenant's agents give it to their client before the agency agreement and to the other side at first substantive contact.

Can the same broker represent both sides?

Yes, through dual agency with informed written consent from both principals. Full fiduciary duties and undivided loyalty cannot then be provided to either side.

Does Real Property Law section 443 apply to every property?

No. It applies to its defined residential real property. Common-law agency and other duties can still apply outside that statutory form requirement.

What to study next

Compare client duties versus customer duties, then continue to subagency versus a broker's agent. Use the Law of Agency study guide for lessons and practice.

Sources and verification notes

This article was checked on August 27, 2026. It explains exam principles for New York agency relationships. Actual representation depends on the agreement, conduct, property type and complete facts.

1. New York State Department of State, 77-Hour Real Estate Salesperson Curriculum. Seller, landlord, buyer and tenant agency, fiduciary duties, disclosure and informed-consent objectives.
2. New York Real Property Law section 443. Definitions, residential disclosure timing, four agency roles, client duties, other-party duties and dual agency.
3. New York State Department of State, Real Estate License Law, March 2026. Current Article 12-A and regulations, including sections 175.7, 175.10, 175.21 and 175.23.
4. New York Executive Law section 296. State Human Rights Law provisions applicable to housing and real estate services.
5. New York Real Property Law section 466. Listing-agent and buyer-agent duties to inform parties about the Property Condition Disclosure Act.

This article provides general educational information. It is not legal advice.