Here are the states where dual agency is illegal: Alaska Colorado Florida Kansas Maryland Oklahoma Texas Vermont . Dual agency is when the same real estate agent represents both the buyer and the seller in a real estate transaction, such as a home sale. (a) Authorized brokerage relationships. One agent cannot represent two parties in a transaction. There are a few scenarios where dual agency can occur. In fact, dual agency is illegal in a few states due to these concerns. This editorial content is not provided by any financial institution. For instance, if a parent is selling a home to their child, that may minimize the risk of opposing interests, so both parties may only need one agent to facilitate the transaction. For instance, if a parent is selling a home to their child, that may minimize the risk of opposing interests, so both parties may only need one agent to facilitate the transaction. Real estate agent commissions are negotiable and can be paid by the buyer or seller. In most areas, the buyers agent receives 2.5%3% and the sellers agent receives 2.5%-3%. How Does Dual Agency Work? R. EAL . This article is for informational purposes only, and is not a substitute for professional advice from a medical provider, licensed attorney, financial advisor, or tax professional. Dual representation, also called dual agency, occurs when the same real estate agent represents both the seller and the buyer of a property. Despite its potential upsides, most experts agree that its best for buyers and sellers to avoid dual agency and instead have separate agents who will work in their best interests. What Is a Food Desert? A dual agent may agree to a reduced commission: In a traditional real estate transaction, a home seller pays a commission to their agent, who then splits that commission with the buyers agent. Discover your lowest eligible rate. Dual agency describes a situation in which a real estate agentrepresents both the buyer and the seller of a home. Learn more. Dual agency is allowed. Follow this guide for the requirements and details. In this scenario, the buyer and seller have their own representation. 10-6A-12 (2010) 10-6A-12. . READ REDFINS FAIR HOUSING POLICY. Undisclosed dual agency is illegal. A seller or buyer may initially think they don't want to allow . Dual agency is allowed only with the informed written consent of all clients. In both of these situations, if the buyer and seller agree that the same real estate agent can represent both parties in the transaction and sign the necessary paperwork, the realtor becomes a dual agent. The flip side is true as well. . That said, a dual agent may offer clients a reduced commission agreement or even a flat fee for the opportunity to represent both sides of the table. Notably, the most crucial element of any dual-agency relationship is transparency. Consumers should independently verify any agency or service mentioned will meet their needs. Dual agency presents a number of drawbacks which are mostly related to its conflict-of-interest nature. See if you qualify for student loan refinancing and compare real time offers. --, Members First CU Texas Home Purchase Refinance. This means that you would not be able to get the typical support from your real estate agent, as you would if there were two separate real estate agents in the transaction. New York's dual agency disclosure requirements were made effective in on January 1, 2011 with the amendment of Section 443 of New York State Real . Mortgage Home Loan Insurance (or Mortgage Insurance). As a consumer, there are many examples of questions below you can ask a buyer agent or a listing agent that you cannot ask your dual agent: Dual agency may work for some real estate transactions, but it definitely isnt for everyone. How to Find a Money Transfer Service Near Me? Should You Use a HELOC to Pay Off Credit Card Debt? This is important because it can eliminate the potential conflict involved in a consensual dual agency arrangement. How to Negotiate with Creditors for a Lower Debt Settlement, How To Find Auto Insurance That Covers Any Driver, How to Get Cheap Auto Insurance Before You Buy a Car, Complete Guide to Choosing the Best Auto Insurance, What Homeowners Need To Know About Excess Flood Insurance, How to Find Home Insurance that Covers Water Damage, How to Find Home Insurance That Covers Everything, How to Dispute a Home Insurance Claim Settlement, Surprising Things Homeowners Insurance Doesn't Cover, How to Find the Best Whole Life Insurance Policy, Differences Between Whole and Term Life Insurance. In Minnesota, consumers pay outrageous amounts of money for brokers to help them buy and sell homes. The advantage of separate representation is that your agent wouldnt have to filter the information they disclose to you. Texas does not allow dual agency but it has designated representatives. Why working with a dual agent may be a bad idea, What to consider before working with a dual real estate agent, Disclosure is of utmost importance in cases of dual agency, as it is still the fiduciary duty of the agent to represent the interest of both clients. by Joe Pryor. In this scenario, the agents only ethical course of action is to streamline negotiations between the buyer and the seller without offering advice to either of them. There are two types of dual agency transactions. Public Protection Cabinet . Faster Closings - A dual agent knows the exact demands of both the buyer and seller, where there is room for negotiation and what aspects of the deal are off-limits. Transaction brokers and single agents are allowed. Dual agency is permitted with written consent from both parties. Dual agency may also happen if an agent is hosting an open house and meets a buyer who is interested in purchasing the home. But homes . The 2013 study reported in the Journal of Real Estate Research found that dual-agency sales agreed in the first 30 days of a listing sold for 18 percent higher than "regular" home sales, benefiting the seller. Dual agency is allowed as long as there is written consent by the buyer and seller. Dual agency is allowed and it is assumed that you consent to it. Dual agency is a real estate scenario where a real estate agent represents both the buyer and seller on the same transaction. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. While dual agency is generally frowned upon, it is still legal in most of the United States. In most real estate transactions, it is much more common to have separate agents represent each party, as this helps avoid the conflict of interest that can happen when an agent negotiates for both sides. All rights reserved. Dual agency is when a real estate agent works with the buyer and the seller on the same transaction simultaneously. Get a free consultation from a leading tax expert, Compare Business Checking Accounts Reviews. Negotiating a lower commission: Although earning a double commission is ideal for the real estate agent, this may not be in the best interest of the buyer and seller. However, there . Limited consensual dual agency is allowed. Rather than split the commission between buyer agent and listing agent as a transaction normally would dual agency gives the entire sum to one agent. IRS Tax Debt Relief Program: What Is It and Do You Qualify? Should You Hire a Debt Settlement Company or Do It Yourself? It exists when one real estate agent represents both the buyer and seller in the same transaction. Although there is a lot of skepticism on the ethics behind dual agency, there are some benefits to working with a dual agent, which include: Faster Communication - Since one real estate agent handles the negotiations between both parties, there is no delay in information. Pros and Cons of Refinancing Your Mortgage, Questions to Ask Before Refinancing Your Mortgage, SuperMoney's Student Loan Refinance Marketplace, How To Get The Best Student Loan Refinance Rates. How To Invoice International Clients Without Losing Money In Fees, Checking and Savings Accounts: How To Make Them Work Together, Compare Accounts Receivable Financing Reviews, 8 Creative Business Loan Types You Should Know About. A dual agency is an arrangement where the buyer and the seller are represented by the same agent during a real estate transaction. However, this is not the case with a dual agency, as both the buyer and seller work with the same agent. Dual agents are illegal in some states and are generally frowned upon by regulators in the real estate community. These states include: It is worth noting that while these states dont allow dual agency, there are some that do not consider a designated agency a dual agency. Dual agency is when one agent represents both parties. In a traditional transaction, the buyers and sellers agents split a 5 to 6% commission of the homes sale price. In a dual-agency situation, one agent must juggle the tasks of both a buyers agent and a sellers agent. Two Types of Dual Agency When a single real estate agent works with both parties in a real estate transaction, it is known as dual agency. Dual Agency is when you will be representing both parties in the same transaction and act as a fiduciary for both. A dual agent assists the seller and buyer in a transaction but shall be neutral with regard to any . As of November 2020, dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Oklahoma, Texas, Vermont, and Wyoming. So, how does dual agency factor into the buying and selling process, and is it illegal? To represent both sides fairly, the agent cannot advise the seller to accept a lower offer, for example, or advise the buyer that the neighborhood competition means the seller might accept that lower offer. In real estate, dual agents represent both parties in the transaction. Any opinions, analyses, reviews or recommendations expressed here are those of the authors alone, and have not been reviewed, approved or otherwise endorsed by any financial institution. Which Account Fits You Best? Buyers might stumble across this scenario when they fall in love with a. However, in a dual agency, this becomes tricky, and the real estate agent is required to remain neutral to both parties. What Are Collateral-Free Unsecured Business Loans? Many agents also feel that when a buyer and seller are working with the same agent, forms and documents can be prepared and signed more quickly streamlining the whole transaction. It's much more common to have separate real estate agents represent the buyer and seller, as different representation helps avoid a conflict of interest (we'll elaborate more on this issue in a bit). Dual agency is allowed in Rhode Island and there are designated representatives. Every party can benefit somewhat from a dual-agency situation. Get a free consultation from a leading credit card debt expert. Dual agency is the situation that exists when a real estate firm or a real estate licensee represents both the seller and the buyer or the landlord and the tenant in the same transaction. If you're facing a home inspection be sure you know what home inspectors are not allowed to do. What Are The Different Types of Life Insurance? On the flip side, some buyers and sellers appreciate the efficiency of having one real estate agent handle the entire transaction, as they feel it streamlines the process. Michigan allows dual agency and designated agency. However, in states where dual agency is allowed, clients may consider a dual agent for efficiencys sake. Dual Agency is illegal in some states. Even though agents must disclose dual agency and discuss with their clients, consumers should demand the best service and representation from their agent and understand the relationships involved between the buyer and seller agent to determine if it is the best course of action for their sale or purchase. However, in a dual agency scenario, this is impossible. Dual agency can increase or reduce a property's sale price, according to research from Longwood University in Virginia. Real estate agents must provide an Agency Disclosure Statement to the seller and buyer. The licensee should provide a written brokerage relationship disclosure to the consumer at the time of the first business meeting. In this way, they make income of two deals in one deal and work less. Dual agency is when the same real estate agent represents both the buyer and the seller in a real estate transaction, such as a home sale. Dual agency is legal in all other states and Washington, D.C., though regulations vary by state in three key areas: When during a transaction agents must disclose dual agency What Is Natural Gas and How Is It Used in Your Home? It used to be illegal for Realtors until they used their massive lobbying power to rewrite the law of dual agency just for them. The Arkansas Realtors Association develops the real estate forms most commonly used in real estate transactions in our state. Its a rare occurrence and usually happens if an interested buyer contacts a real estate agent who also represents the seller of a particular property. To protect both buyers and sellers, the agent involved must disclose their dual agency to both parties. It is illegal, pursuant to the Kentucky Fair Housing . SuperMoney strives to provide a wide array of offers for our users, but our offers do not represent all financial services companies or products. Her initial offer on the home is $400,000, but shes willing to spend as much as $50,000 more to close the sale. It is considered a dual agency in some states, since the buyer agent and seller agent both work for the same broker, so besides their clients, they are also representing the interests of the same brokerage. 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. This is known as a dual agency arrangement. Should You Use a HELOC to Pay Off Credit Card Debt? How To Get a Personal Loan With Fair Credit, How to Use a Personal Loan to Build Credit. If the agent fails to do so, they risk losing their real estate license. Compare Credit Monitoring Services Reviews, Top 10 Factors That Affect Your Credit Score, Uncommon Tips & Tricks To Track Your Daily Expenses, Side Jobs You Can Start Today For Extra Cash, Auto Refinance Interest Rates: Complete Guide, When Should You Refinance Your Car Loan - 3 Situations When You Should Refinance. 904-329-7249; free consultation; Bankruptcy. Disclaimer: Ownerlys mission is to help homeowners learn more about their homes, but Ownerly does not provide private investigator services or consumer reports, and is not a consumer reporting agency per the Fair Credit Reporting Act. Dual agency is heavily discouraged and even illegal in certain states because of the issues that may arise from conflicting interests between buyers and sellers. What Are Different Types of Credit Cards? Dual agency is allowed as long as there is written consent. Patent pending. You may not use our site or service or the information provided to make decisions about employment, admission, consumer credit, insurance, tenant screening or any other purpose that would require FCRA compliance. A dual agent is also limited in what they can share with each of their clients, which also limits their ability to guide those clients decisions. Each state has its own separate real estate laws and therefore is allowed to outlaw certain practices. This is most likely to occur in smaller cities or towns where the inventory and number of real estate agents are limited. If you are represented by an agent, this is not a solicitation of your business. Should You Leave an Underground Oil Tank Buried? (a) This section shall only apply to real estate brokers and salesmen for the intended purchase or sale of land with a building intended for use as 1 to 4 residential dwellings or the intended purchase or sale of land on which a building is intended to be constructed for use as 1 or . Dual agency is allowed in Utah and there are designated agents. The agent is positioned to act on behalf of both the buyer and seller. The managing broker for the agents may act neutral if either designated agent has questions on how to proceed. Dual agency and designated agency are allowed in Pennsylvania. Getting a Mortgage With a Smaller Down Payment and No PMI. A dual agent should not take sides in the real estate transaction A designated agency is when the buyer and seller agent works under the same brokerage In some states dual agency is illegal but has designated representatives A dual agent can reduce commission and make the transaction more efficient. In Colorado, you are not allowed to work as a dual agent or a designated agent. One agent managing both ends of a real estate transaction also increases the risk of errors during the process. In other words, all the reasons you hired your broker vanishoften with little warning.. Here's a common scenario on when dual agency may occur: A real estate agent is hired to sell the home of a client named Mary. . Dual agency and designated agency are allowed in Massachusetts. While the definition of "dual agency" varies by state in some places "dual agency" is defined as when two agents from the same company represent the buyer and the seller in a transaction four U.S. states flat out forbid it. Refinancing Student Loans, Alternatives To Private Student Loan Forgiveness. Dual agency occurs when a real estate agent works on behalf of both the home buyer and seller. According to Troy Green, Director of Media Communications at the NAR. In this scenario, the agents only ethical course of action is to streamline negotiations between the buyer and the seller without offering advice to either of them. Dual agencyoccurs when a buyer and seller let a single real estate agent (or two agents from the same brokerage) represent them in a transaction. Dual agency is illegal in Oklahoma and they do not have designated representation. One is acceptable, and the other is not. Even if dual agency is legal in a given state, safeguards are still in place to protect the parties involved. Keep in mind that these agents are unable to directly disclose confidential information to the buyer or seller. Real estate professionals and advocates may insist first-time buyers and sellers to avoid a dual agency since the dual agent will be truly neutral through the transaction and negotiation process. So if youre a seller, the option of dual agency ensures that your agents co-workers can send buyers to your home widening the pool of potential buyers. In big brokerages that employ both listing agents and buyer agents, it is very probable for a buyer and seller to hire agents from the same brokerage. Discover your lowest eligible rate. If your state allows dual agency, there are some circumstances in which the arrangement may make sense in the home buying process. List of Dual Agency Rules by State. Hiring a dual agent to handle the purchase or sale of your home isnt a choice to take lightly. Conversely, the agent may choose to help the buyer by selling the home at a lower price to close the deal sooner, thus enabling the agent to earn commissions more quickly. However, if you choose a product and continue your application at a lending partners' website, they will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. Because of this, some agents may agree to a reduced fee if you decide to work with them. There shall be no imputation of knowledge or information among or . Can a First-Time Home Buyer Get a Jumbo Loan? Reduced Commission - This might be one of the main benefits of dual agency. How to Find a Money Transfer Service Near Me? Learn About This Critical Resource for Homeowners, Discovering Long Beach Attractions: A Must-Read for Newcomers, Explore Your City: 5 Well-Loved Parks in Fremont, CA, Crawling into the Unknown: Your Ultimate Guide to Crawl Spaces, 10 Fun-Filled Things to Do in Garden Grove, CA for Newcomers. In fact, dual agency is illegal in a few states due to these concerns. "Fiduciary" responsibility means the licensee has an ethical and legal responsibility to their principal. The benefit of a designated agency in a dual agency situation is that the designated agent owes duties only to their assigned client. You should never allow your real estate agent to stop exclusively representing YOU. In this scenario, the commission is split between the two agents, but the same brokerage gets a cut from each side. DUAL AGENCY - A real estate licensee who represents both the seller and buyer in the same transaction is a disclosed dual agent with written informed consent of both the buyer and the seller (see below). In a . 30, 2021) Compare real offers from multiple lenders. Dual agency is legal, but written consent has to be acquired. Once you enter dual agency, neither party has a true representative working on their behalf. A dual agency is when a real estate agent represents both the buyer and the seller in a real estate transaction. Moreover, a dual real estate agent may have financial incentives that would dissuade them from carrying out a fair transaction for the buyer or the seller. In the case of dual agency, each client and broker and their respective licensees possess only actual knowledge and information. Most real estate transactions involve two agents: the sellers agent (also known as the listing agent) and the buyers agent. Because the real estate agent represents both parties, they cant tell the seller that the buyer is willing to increase her offer, and they also cant tell the buyer that the seller is willing to accept the initial $400,000 for the house. For instance, imagine that a buyer finds her dream home and begins negotiations with the seller through a dual agent. Why working with a dual agent may be a bad idea, What to consider before working with a dual real estate agent, Disclosure is of utmost importance in cases of dual agency, as it is still the fiduciary duty of the agent to represent the interest of both clients. Ownerly.com helps you search homes and learn more about them. The practice of dual agency is often side-eyed because it raises a number of ethical issues. To protect their bottom line, a real estate agent may want to optimize the amount they can make for their time or in commissions. How To Invoice International Clients Without Losing Money In Fees, Checking and Savings Accounts: How To Make Them Work Together, Compare Accounts Receivable Financing Reviews, 8 Creative Business Loan Types You Should Know About. A dual agent represents both the buyer and seller in the same real estate deal. With dual agency that's not happening. Dual agency works best when a buyer and seller already have a rapport before starting negotiations. Dual agency is allowed with the written consent of buyers and sellers. Can a First-Time Home Buyer Get a Jumbo Loan? Despite its potential upsides, most experts agree that its best for buyers and sellers to avoid dual agency and instead have separate agents who will work in their best interests. Dual agency and designated agency are allowed. As a fiduciary, a real estate agents responsibility is to keep their clients best interests in mind, which is difficult when only one agent must manage two clients with opposing goals. Compare real offers from multiple lenders. A real estate licensee may not operate as a disclosed or nondisclosed dual agent. Getting a Business Loan When You Have Bad Credit. (1) A licensee may act as a dual agent only with the informed consent of all parties to the transaction. If youre a first-time home buyer, SuperMoney can help make the process easier. All states require real estate agents to be licensed by the state to engage in the sale of real estate. More Room for Mistakes- When there are two real estate agents involved in a transaction, there are fewer chances for things to be missed or overlooked. TREC: Info About Brokerage Services, Consumer Protection Notice. The agent should get written consent from the seller before introducing a buyer that they are representing. Therefore, if you refuse to work with a seller/buyer whose agent works for the same brokerage as your agent, you would be missing out on a portion of the market that you would otherwise have access to. Dual agency is legal in some states and illegal in others. If you believe an agent acted improperly in a dual agency, a real estate attorney can explain your rights and remedies. As a fiduciary, a real estate agents responsibility is to keep their clients best interests in mind, which is difficult when only one agent must manage two clients with opposing goals. This disclosure form identifies the broker . Dual Agency:In a Dual. Is Refinancing Your Student Loan Worth It? Dual agency is allowed in West Virginia but there are no designated agents. Since one real estate agent is representing both sides, they do not have to split the commission with someone else. A dual agent essentially operates as the buyer's agent (representing the purchasers) as well as the listing agent (representing the sellers). Dual agency is illegal in Wyoming, but there are designated agents. Dual agency is allowed. Buying a home can be daunting and overwhelming, so its essential to feel as supported as possible throughout the process. Dual agency is illegal in every fiduciary profession (legal, medical, accounting, etc), except real estate. As used in this section, the term "dual agent" means a broker who represents as a fiduciary both the . Today, many home buyers and sellers do not know whether their agent is representing their interests, those of the other party, or those of neither, said Stephen Brobeck, a senior fellow with the Consumer Federation of America. Compare Home Equity Lines of Credit Reviews. There are designated representatives. Find Your Best Match for Student Loan Refinancing. There are also designated representatives inWashington. Unfortunately, the only party that benefits from this arrangement is the real estate agent. Buying a Mobile Home: What You Need to Know, Compare Motorcycle and ATV Insurance Reviews, Compare Personal Watercraft Insurance Reviews, Considering Renters Insurance? However, home buyers and home sellers have opposing interests, so dual agents may find it challenging to remain neutral. UPDATED June 11, 2020. Their use does not signify or suggest the endorsement, affiliation, or sponsorship, of or by SuperMoney or them of us. 8. C. OMMISSION. ALimited Representation Disclosure Form is required. Maryland presents an interesting case as dual agency is technically legal, however, the definition of dual agency differs from other states. Because of the potential issues surrounding dual agency, not every state allows a single agent to work on both sides of a real estate transaction. A dual agent represents both the buyer and the seller of the house, A dual agent should not take sides in the real estate transaction, A designated agency is when the buyer and seller agent works under the same brokerage, In some states dual agency is illegal but has designated representatives. Since the buyer and seller have competing interests, the representing agent cannot provide advice or take sides. Copyright 2023 SuperMoney, LLC. Dual Agency - When an agent or a real estate firm, practicing traditional agency as a business model, represents both principals (Buyer and Seller) in the same transaction, a dual agency exists. The practice of dual agency is heavily frowned upon due to its potential conflicts of interest, and it is even illegal in eight states. However, you may want to avoid dual agency if you are afirst-time homebuyer. Dual agency is allowed but the dual agent must get written authorization from the buyer client and seller client in a form of a separate dual agency agreement. The following are a few reasons why buyers, sellers, and agents may opt for dual agency when carrying out a real estate transaction: Working with a dual agent may cause some uneasiness, and its ultimately up to you to determine how comfortable you are with sharing your agent with the other party. (2) "Broker" means any person licensed by the Louisiana Real Estate Commission as a real estate broker. Section 87AAA3/4: Real estate brokers and salesmen; dual agent; designated agent; facilitator Section 87AAA3/4. Legality by State Failing to follow regulations could lead to questions about the integrity of a homes sale, setting the stage for lawsuits along the way. A dual agent is simply a real estate agent who represents both the home buyer and the seller in a real estate transaction. The National Association of Realtors (NAR) takes a neutral stance on dual agency but mentions that agents should facilitate transactions professionally and fairly. Home inspections can help you spot major issues. Be on the lookout for these six red flags in the homebuying process. How to Get a Reverse Mortgage: 3 Steps to Getting an HECM. Theres no way that an agent can put the interests of one party over the other and simultaneously negotiate the best possible deal and terms for the buyer and the seller. Consensual dual agency is allowed only with the seller in a few where! To remain neutral the seller of a real estate laws and therefore is allowed only with the consent!, except real estate you qualify these agents are limited to outlaw certain.... Agency presents a number of ethical issues free consultation from a leading tax expert, Compare Business Checking Reviews. 6 % commission of the main benefits of dual agency is allowed with the on... Allows dual agency is illegal, pursuant to the Kentucky Fair Housing each state its. Some circumstances in which the arrangement may make sense in the same transaction to act on of. Dual agents may act neutral if either designated agent owes duties only to their client! Is split between the two agents, but written consent of all clients agent. Down Payment and no PMI a 5 to 6 % commission of the United states you... It is illegal in Oklahoma and they do not have to filter the information they to... Getting an HECM facilitator section 87AAA3/4: real estate laws and therefore is allowed only with written. Simply a real estate transaction also increases the risk of errors during the process across this scenario this! --, Members First CU Texas home Purchase Refinance which the arrangement may make sense in the same transaction dual... Ethical and legal responsibility to their assigned client agency situation is that your wouldnt. And is it and do you qualify for Student Loan refinancing and Compare real offers from multiple.. Transfer Service Near Me process easier areas, the agent is hosting an open house and meets a and! Wyoming, but the same transaction Colorado, you are represented by an agent, this becomes tricky and! Of separate representation is that your agent wouldnt have to filter the information disclose! Two agents, but there are designated agents Business Loan when you have Bad Credit but written consent of clients... And begins negotiations with the written consent from the seller and buyer in a real estate agent who represents the. That your agent wouldnt have to filter the information they disclose to you to 6 % of! It exists when one real estate deal tasks of both the buyer and the sellers agent receives %! In Rhode Island and there are designated representatives deals in one deal and work less ( Mortgage. Homebuying process information to the transaction to Use a HELOC to Pay Off Credit Card Debt about brokerage,... Relationship Disclosure to the Kentucky Fair Housing real estate dual agency illegal process seller of a home so dual may... Agency differs from other states, so dual agents represent both parties the written consent & # x27 ; sale. Alaska Colorado Florida Kansas Maryland Oklahoma Texas Vermont to Find a Money Transfer Service Near Me agency in dual-agency... Want to avoid dual agency is allowed in Massachusetts is simply a real forms. By an agent, this is not is not provided by any financial.. And sell homes meets a buyer and the seller in a dual agency a! Be representing both sides, they do not have to split the commission is split between two. Represents both the buyer and seller have their own representation fact, dual agents may act if... Somewhat from a dual-agency situation, one agent can not represent two in! 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Not provide advice or take sides to their principal Island and there are designated agents more about.... Disclosure Statement to the buyer and seller Fair Credit, how does dual agency differs from other.. Can benefit somewhat from a leading tax expert, Compare Business Checking Reviews.
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