Designated Agency or Dual Agency: An Interesting Question Raised

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A colleague raised an interesting question in the following blog entry. If you think in terms of a sports team, you would never see a team have the same coach, so why would buyers and sellers use the same company to complete their real estate purchases.

“To get around the drawbacks of ‘dual agency’ – states are adopting ‘designated agency.’ Thats where the employing broker designated one agent within his/her office to be an agent for the seller and another agent within her/his office to be the agent for the buyer. Law firms don’t allow you to hire an attorney while your adversary uses another attorney at the same firm. So why should this be legal in Real Estate?? The buyer’s information and negotiation power can be compromised in these offices.

It always pays to do research before entering the real estate market. The only way to avoid conflicts of interest entirely, is to insist on having representation separate and apart from the listing agent’s company.

Source link:

http://exclusivebuyeragent.typepad.com/my_weblog/2006/11/why_dual_agency.html

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