Dual Agency Is Illegal In Some States: Explained
Alternatives to using double agents
There are better options for buyers and sellers than dual agency. If you’re a buyer, it makes more sense to work with a buyer’s agent. These agents only represent you in a door-to-door sale. They will negotiate on your behalf to get the fairest price when you buy a home.
As a buyer, you will not have to pay the commission for this agent. Instead, the agent shares a commission with the seller’s agent after the real estate sale closes, taking their share of the sale proceeds. Essentially, the seller therefore pays the buyer’s agent.
If you are selling a home, you should work with a listing agent. This agent only represents you and ensures that you sell your home for the best possible price. This agent, also known as a seller’s agent, will list your home on the multiple listing service, help you prepare your home for sale, and schedule visits to your home for potential buyers. You will pay this agent from the proceeds of the sale of your home.
You should also check that your agent, whether you are selling or buying, is a REAL ESTATE AGENT. A Realtor is a member of the National Association of REALTORS® and must adhere to the rules and regulations of that organization.