Dual Agency: a real estate wolf in sheep's clothing?
Not all Buyer Agents will remain as Agent for their Buyer client exclusively throughout the real estate buying process.
Many Agency salespeople say they will be a Buyer's Agent however ...... when you become interested in one of their Agency’s listings, they ask you give up Single Agency representation and consent to Double Agency by signing a Dual Agency agreement.
This is because the salesperson's Agency has already promised to get the highest price and best terms possible for their Seller client. The salesperson's Agency is now promising to get you, their Buyer client, the lowest price and best terms possible. This is a conflict of interest. So in Double Agency, the Buyer and Seller are asked to consent to devalued or diminished Agency representation
When an Agency sells a Seller client's property to the Agency's Buyer client, the Agency does not have to split the total commission with another Agency. The Agency retains the most money possible from an individual property transaction. This action is often referred to as a "double ender". And further there is an inherent conflict of interest when there are multiple offers on a Seller's property and one offer is a double ender for the Agency and any other offers are only single enders.
Beware of the Doubles!
Is your trusted real estate advisor a Double Agent ?
Moncton, New Brunswick, Canada, 506-856-0202