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Dual Agency

Dual Agency

 It is where an agent represents both parties to a contract, and yes it doubles the commission for them.
Do you already see the issue with this?  Self interest can often get in the way of objectivity, causing the agent to sway towards one party over the other in order to make extra on their commission.  As agents, we have most likely developed a rapport with our clients and gained a level of trust with them, leading to influence.  As a seller, stay steadfast with the agent and make sure no coercion takes place.
Many folks across the country have been taken advantage of in a dual agency situation, and a few states have outlawed it.  Why?  Because in order to successfully close a dual agency contract, we have to omit our duties of care and loyalty to our clients.
A skilled agent who truly cares will be accountable and will not break trust with either side of a contract.  Transparency and honesty can overcome many doubts. At the end of the day every decision belongs to the client, so long as the client is properly informed about all of their options.
I have successfully closed many dual agencies without any problem.  The reason for this is because I disclose exactly what is going on,  and I let my clients make their own decisions without myself stepping in the middle. I reduce my duties in terms of advisement because most clients know what they will do and what they will not do.  As Realtors, we have to stay objective, we must disclose in writing, and then keep reminding our clients, because that’s the key to successfully closing a dual agency contact.
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