Final answer:
A traditional real estate seller's agent has the authority to represent the seller in the transaction and handle various tasks such as marketing, negotiating, and paperwork. However, their authority is limited to the scope of the agency agreement between the agent and the seller.
Step-by-step explanation:
A traditional real estate seller's agent has the authority to represent the seller in the transaction. They have the authority to market the property, negotiate offers, and handle paperwork and documentation on behalf of the seller. However, their authority is limited to the scope of the agency agreement between the agent and the seller.
This means that the agent's authority may vary depending on the specific terms and conditions of their agreement.
For example, the agent may have the authority to list the property on multiple listing services, advertise the property online and in publications, and host open houses to attract potential buyers. They may also have the authority to negotiate the terms and conditions of the sale, including the purchase price, contingencies, and closing dates.
It's important to note that the agent's authority is generally limited to the sale of the property and does not extend to other aspects such as legal advice or financial planning. If a buyer or seller requires additional services, they may need to seek assistance from a lawyer, accountant, or other professional.