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What Is Dual Agency? Dual agency is when a real estate licensee represents BOTH the seller and the buyer in a transaction. Dual representation must be in writing & understood by both the Buyer & Seller parties. It recommended that the Dual Agent stick to the material facts and delegate any potential conflicts of interest to the Buyer’s & Seller’s Attorneys.
Many buyers are still of the habit of wanting to contact listing agents directly and not engage the services of a dedicated buyer’s agent. They may feel that the listing agent will have extra incentive to work out a deal that will benefit them however, unless there is dual agency, the listing agent has fiduciary duties to the seller (Ie. their job is to get their seller the best possible price and terms–not cut a deal with a direct buyer. However, if both buyer and seller agree to buyer agency then it must be in writing and it’s best to suggest that both buyer and seller have legal representation.
