What happens when a buyer and a seller have the same real estate agent at the same time? This doesn’t happen often and for good reason. In fact, I highly recommend staying away from this situation.
When a real estate agent represents both the buyer and the seller for the same transaction, they’re called a dual agent. In some locations, dual agents are illegal, while in other areas, there are not any laws against them, but dual agents are frowned upon by the real estate community.
When this happens, a dual agent cannot truly do their job. A real estate agent is supposed to fight for their client’s best interest, offer the best guidance, and advice possible. But a seller and a buyer have opposite interests when it comes to purchase agreements and negotiations. The seller wants to sell their house for the most money possible, while the buyer wants to buy it for the least amount possible.
But when an agent represents both the buyer and the seller for the same transaction, they cannot represent the best interest of the buyer and the seller individually. In the end, someone walks away unhappy. A dual agent presents a clear conflict of interest. The agent can’t offer either party advice or guidance without breaking their promise to the other party.
When you hire a real estate agent, you expect to get full access to their knowledge, experience, and advice. But in a dual agent situation, you would not be getting what you hired the agent for in the first place. Avoid this situation from the start!
When you are ready to sell your home, find an agent who can guide you through the selling process and you only. Or, if you are deciding to buy or build a home, get an agent who can walk you through each step of the buying process and offer you the advice you need.
Are you looking for an agent to represent you and give you the advice you need to make the best real estate decisions for your future? I’m currently accepting new clients! I have your best interest at heart, so contact me if you’d like to talk!
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