CONTROVERSIAL TOPIC ALERT!!
Should sellers be okay with their agents also representing the buyer—or not? That is the question. And if it's one you've been asking yourself, then today, I have a few things to share.
My take? Yes! It can work, but there are a few things sellers will want to think through before going this route:
- When you hire an agent to work just one side of the transaction, you get a “fiduciary relationship.” This means your agent is responsible for looking out for your best interests in good faith. Translation: Your agent is looking out for you and you alone.
- You forego this benefit when you work with an agent on both sides of the transaction. Called a “dual agency,” the agent represents you and the buyer. In this arrangement, the agent should remain neutral to both parties’ interests. Because of this, dual agents tend to leave the buyer and the seller hashing out the details of the sale without the benefit of an agent’s expertise and advice.
While it may work in special circumstances, the most common setup is for each party to have their own agent. After all, at the end of the day, whether you're buying or selling, you want to walk away knowing you received the FULL advantage of working with a professional and knowledgeable agent.
What do you think? Should a listing agent also represent the buyer? Have you been on either side of a dual agency? I’d love to hear your thoughts. Post in the comments below.
Cindy Grenier - 204-303-2567