Downsides Of Dual Agency When Buying/Selling Real Estate
Dual Agency + Representation = Consumers’ Best Interests?
Before we bring up a few downsides of Dual Agency during a real estate transaction, we’ll loosely explain DA as well as list ways consumers find themselves in Dual Agency. It’s worth noting that while it’s legal for Scottsdale, Arizona Real Estate Teams to perform Dual Agency, it is illegal is some states.
Dual Agency basically means one real estate professional is representing both sides (parties) in a transaction. While it can be helpful, even beneficial, it comes with many caveats.
Some Ways Dual Agency Occurs:
- Unrepresented home buyer walks into an Open House
- Unrepresented home buyer contacts a new development
- Listing Agent finds seller his/her own buyer
Sound A Bit Sketch?
It should. Personally, if I were a defendant in a court room, I wouldn’t want my accuser’s attorney representing me as well. Also, why should a consumer LOSE their right to their own agent representation (buyer’s agents) just because said consumer requested information such as a brochure from a new home or high-rise condo development.
Food for thought. If you enjoyed this article perhaps you’ll enjoy WilliamsLuxuryHomes.com’s Tips For Buying Real Estate section!