Source: Quicken Loans —
Whether you’re buying or selling a home, it’s a good idea to work with a real estate agent. These trained professionals have valuable experience they can leverage to help make your purchase or sale go as smoothly as possible.
Usually, the buyer and seller in a real estate transaction each work with their own agent. But did you know it’s possible for both buyer and seller to work with the same agent? Today, let’s talk about dual agency and whether this practice can be beneficial or a conflict of interest.
What Is Dual Agency In Real Estate?
“Dual agency” is when one real estate agent or REALTOR® represents both the buyer and the seller in a real estate transaction. Usually, the buyer and seller of a home work with different agents to avoid conflicts of interest with the sale of the home – a buyer’s agent and a seller’s agent. In some cases, however, the parties to a sale agree to work with a single agent rather than two.
As you may have guessed, choosing to do this definitely has pros and cons. With just one real estate agent involved with the sale, there can be issues with things like availability and the agent’s personal interest in the transaction. On the other hand, working with a single agent can also streamline the sale process and result in some possible savings for both sides.
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