100% Loyalty

Dual agency is without a doubt the greatest responsibility a Realtor can have and it is an honor to be trusted by both parties. 

I have been a dual agent 5 times in my 24 years in being in the business. For the most part I think dual agency is a liability and is difficult to represent both parties. In California our fiduciary relationship is with the seller and we must be fair and honest with the buers. 3 times I represented both parties, the sellers already had the buyers and brought me into the transaction. the other 2 times, both parties knew me well and it was during a down market and I had to recduce my commission to geth the transaction together so both parties were happy.

I went through trial by fire. My first deal was Dual Agency... But I'm glad it worked out that way. Fidelity is one of the greatest things we can offer our clients. Taking the backseat and "facilitating" was the right thing to do. Good Job!

Dual agency is for the schizophrenic. 

And for folks with very strong stomachs.

No matter what a buyer or seller says, they still believe that the "agent" managing the transaction is "their agent". 

Undisclosed dual agency, practiced by many, is a fraud. 

Some one stop me!!!!

I like the offer to let them consult with an attorney!

Merry Christmas!

your friend in Charlottesville

I've done several Dual Agency transactions over the years. Fortunately, Virginia has something called Designated Representation. Should a conflict arise, the Broker can assign the buyer to another agent which removes the conflict from the Dual Agent. At that point the Broker becomes the Dual Agent.

Full disclosure is very important. However, sometimes it is very difficult to keep that "arms length distance" between both clients. That's when the Broker needs to get involved. Consulting with an attorney is a good idea. Do you put that into the Buyer Broker Agreement?

Great idea. We have a team of three, and this helps to give everyone fair representation. -Dinah Lee

I've done a bunch of D/A transactions and have been quite successful doing them.  Yes it's a fine line you walk, but if you're careful you should be okay.  I treat both parties as if I want their business again.  I offer a discount to the seller in the amount of commission paid, and I offer to pick up some of my buyers closing costs.  Of my clients who have not moved away, all still call me for their real estate questions and needs. 

The money is not in collecting the whole commission!  It's in having twice as many clients for life.  I'll make more money later.