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Knowledge Base->realtor->Dual agency

      Dual Agency is the process by which one real estate broker represents both the seller and the buyer in a transaction. It is legal in most of states (Except Alabama, Florida, Hawaii, Maryland) by providing its fully disclosed and consented to by all parties.dualagency.jpg
      It is very difficult to obtain the highest and best price for the seller when the agent also represents the buyer. The dual agent cannot advise on either home price or suggesting the seller to accept or reject an offer.
      Some buyers prefer to work solely with listing agents because they know the agent is more likely to receive more commission than split with buyer agent. They feel the listing agent is motivated to get offer accepted by seller. This is true in some cases but it really depends on sellers. They might also ask the dual agent to further negotiate the real estate commission to increase the seller's profit on a low-ball offer.
      Beside dual agency, some agents will work as transaction agents. Transaction agents do not represent either party and do not protect the interest of the seller nor the buyer. They simply facilitate the transaction.
      A transaction agent helps to fulfill the obligations of the purchase contract and provides the necessary paperwork for each side. It relieves some of the responsibility incurred when agents take on dual agency and further removes the agent from loyalty.

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