Seller’s agent, buyer’s agent, dual agent- who is representing you?? Did you know that in a licensed real estate agent can represent a client three different ways? It is very important that you know how you are being represented and that your interest is the same interest as your agent. Let me explain….The duties of a seller’s agent is to be loyal to the seller, to advise the seller that protect his/her interest, not to disclose confidential information from or about the seller, and take no action that is adverse or detrimental to the seller’s interest in a transaction. The duties of the buyer’s agent are very similar, to be loyal to the buyer, advise the buyer that will protect his/her interest, not to disclose confidential information from or about the buyer and take no action that is adverse or detrimental to the buyer’s interest in a transaction. Finally we have the duties of a dual agent, to take no action that is adverse or detriment to either party, to advise both parties that will protect their interest, not to disclose confidential information from or about either party, and take no action that is adverse to either party.
Obviously the duties of a dual agent are ones for all parties to be aware of. To be loyal to neither party but advise/represent both parties?? When the time comes for you to buy or sell real estate know how you are being represented.