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What is a Dual Agent?
Buyers Answers
Dual agency arises when an agent representing the buyer shows the buyer properties which also have been listed with the firm or those properties where the firm already agreed to be an agent of the seller. A real estate company can be the agent of both the buyer and seller in a transaction with the knowledge and written consent of both parties.
A dual agent owes both the buyer and seller the following:
- fair treatment of both parties
- information that helps both parties make educated choices
- advice and guidance
- a comparable market analysis
- negotiations to mutually agreeable terms and conditions
- confidentiality on each party's price, terms and personal confidences