Reject Dual Agency

Imagine being in court and the attorney defending you also represents the prosecution. How would this make you feel? Unprotected, of course! Who is looking out for your best interests?

This is exactly what happens in dual agency in real estate. One agent represents both buyer and seller in a transaction. In some states, including Arizona, it’s legal IF you disclose this to both parties and have each party sign a disclosure form that states they understand. But would a smart buyer or seller really feel comfortable signing this form if they truly understood what was happening? Probably not.

Dual agency is problematic on a number of different levels because as your fiduciary, we as buyer’s agents act in your best interests. But how can we secure the best price on the home you want if we also represent the seller and that seller is asking us to negotiate for the highest price possible. It just cannot be done. Someone suffers, and most often that someone is the buyer.

A recent survey by the Consumer Federation of America found that most consumers do not understand dual agency. This is most likely due to that fact that the agent explaining it, does not either. Plus, the agents are motivated by greed, receiving a commission for selling and buying. But this leaves consumers unprotected and unrepresented.

Protect yourself when buying your next home: use a buyer’s agent! They will stand by your side and become your fiduciary; everything they do will be in YOUR best interests.