Dual agency has come under fire as of late, and because of its potential to create a conflict of interest, one western Canadian province banned the practice
Is real estate dual agency bad for both parties?
Yes dual agency is bad for both the buyer and the seller. The only people who ever disagree with this are real estate agents who don’t want to see an opportunity for a double real estate commission taken away.
Many consumers ask does it work. What I find is many real estate agents will put a spin on it to make it sound like it’s not a bad thing for a buyer or seller. WRONG! IT IS!and how
Dual agency is essentially when one real estate agent represents both the buyer and seller in the same transaction.
The problem with this arrangement is the real estate agents hands are tied. The cannot offer the same services they would if they were an exclusive seller’s agent or buyer’s agent.
For example if you are a buyer and ask a “dual agent” what you should offer on the home by law the agent is not allowed to give you advice. Sounds great doesn’t it? NOT!
Real Estate agents give up their ability to help the very reason why most agents are hired – to counsel and give advice.
Just say no to dual agency. It benefits nobody but the real estate agent. Take a look at the comprehensive resource above which explains both dual and designated agency in detail. Always understand how agency law works in your state when buying or selling a home.