Even though it's perfectly legal in the State of Missouri I refuse to work as a dual agent. I have preached against this practice for years. In the State of Missouri we are required to hand out a Broker Disclosure Form to everyone we work with. We are not required however to explain what it says, just hand it out. So I'm never surprised when I do explain it to someone when they tell they would never want someone acting as a dual agent in their real estate transaction. I always tell my seller that I will work only for them. If I have a buyer that chooses not to be represented I will happily assist them but they will understand that I am working on the behalf of the seller. If a buyer wants to be represented I will refer them to another agent. In my office we are large enough that we practice designated agency so I will refer them to someone in my office. When I had my own office I was too small to practice designated agency so I would refer them outside the office. But I only work for the seller. Its just too fine a line to walk.
How many of you still practice Dual Agency where allowed? How do you justify it? How do you explain it to your listing client? How do you protect yourself from a big legal mess if brought to court?