Dual agency is when one real estate agent represents both the buyer and the seller in a real estate transaction. While it is not an uncommon practice, it can sometimes create conflicts and leave the parties feeling like their own interests are not being protected. The parties may feel as though one side is being favored over the other despite (1) any written disclosure or agreement between the parties and the dual agent, and (2) any rules of conduct prescribed for dual agents. Despite that, there are quite a few advantages of having a dual agent. For example, communication between the parties could be faster. The dual agent will have more knowledge of the property and the situation, which can help streamline the process. Having less people involved in the transaction makes it smoother when it comes to obtaining responses from the other party. The agent may already know the… read more →
