Is dual agent a good idea?

Is dual agent a good idea?

To protect your finances and ensure you are selling or buying at the best possible price, it is probably best to avoid dual agency. Buyers or sellers may be inclined to work with a dual agent because they want to obtain confidential information about the person buying or selling the home.

What is agent between the buyer and the seller?

The most basic difference between the buyer’s and seller’s agents is that they represent opposite interests. The buyer’s agent is responsible for making sure the buyer gets the best deal possible and the seller’s agent does the same for the seller.

Are two real estate agents ethical?

There are no regulations or laws stating that buyers cannot use more than one agent or realtor; however, realtors have a code of ethics they follow, and they cannot interfere with another agent’s sales. They will not want to work for a client who is not committed to them or who is attempting to use multiple agents.

What is a dual agent?

Legally speaking, a dual agent is a real estate broker, or agents working for the same broker, who act on behalf of both the seller and the buyer in a transaction. A broker is permitted to act as a dual agent in California only if the buyer and seller are both aware of and consent to the dual agency.

What is the selling agent?

What is a selling agent? A selling agent represents the buyer in a home sale. That might sound confusing, but there’s logic behind the terminology: Prior to a contract being signed, the agent representing the buyer is usually called the buyer’s agent.

What is a buyer’s fee?

In an auction, a fee paid by the purchaser to the person or organization holding the auction on top of the top bid. For example, if one bids $1,000 for an antique bed, one may have to pay a 10% buyer’s fee (or $100) if one wins the auction. A buyer’s fee is one way an auctioneer makes money from the auction.