“dual agency.” In some states, this is illegal because of the conflicts of interest that can arise regarding the broker. All agents hold the same responsibility, which is to inform their clients of all potential risks that could arise due to conflicts of interest. Legally, agents cannot work on both sides of any transaction without consent from the clients. If you’re selling your home and you don’t want your agent to also work with your home buyer, you have the right to say so in the listing agreement. This is also true for buyers. A buyer may be able to get out of a deal with an agent if they are interested in purchasing a home their agent is listing, and all parties do not agree to this type of transaction. There are definite advantages for the seller when it comes to dual agency. • Trust has already been gained with your listing agent, so representation for the buyer has been established. • Your agent brought you the buyer knowing that you’re selling, even if your property has not yet hit the market. • Your listing agent will have already covered and researched your neighborhood’s market to gain buyer inquiries, which means your agent will be working from all sides of the deal to sell your house faster and with more incentive. • Your agent works together with corporate relocation buyers who need to find a house quickly, and they will ensure it’s your house that’s bought. There are also cons for the seller when it comes to dual agency, and they are:
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