Picture this: The home you have been dreaming of just went on the market. You have burning questions and you cannot control your immediate impulse to pick up the phone and contact the Listing Agent. The Listing Agent asks if you would like to see the home today. You say YES! You view the home, fall in love with it, and write an offer. You feel like all the pieces of the "buying puzzle" have fallen into place. What you have really done is stepped into an arrangement called “Limited Dual Agency.” This type of agency is riddled with so many problems that it is the basis for one of the most popular lawsuits in real estate where either the buyer, seller or both parties feel that they were not represented fairly in the transaction. This is such a widespread occurrence that many states have deemed dual agency illegal.
A Dual Agent must remain neutral with regard to any conflicting interest of the seller and buyer. That means a dual agent is limited in doing what may be in the best interest of either party.
Furthermore, if you are buying new construction be aware that an agent showing the home onsite is already representing the builder. Do you realize you are choosing to work with an agent whose duty it is remain neutral, but there is potential for conflict? If you are looking for a new home or investment, consider using one of our Buyer Agents to represent YOUR interests.
With Paul Ertel & Associates, we have a team of agents that represent either the buyer or seller. If someone calls on one of our listings, we refer them to one of our Buyer Agents. Our Buyer Agents represent the buyers of our listings as well as any other home for sale and look out for their best interests. Let us show you how we put our buyer first!
If you would like to investigate this further, this is a great article we found on the subject of dual agency: https://www.maxrealestateexposure.com/dual-agency-why-avoid-it/