Weaver Realtors Broker here, struggling to educate the public on the importance of representation in a real estate transaction. Here in Iowa, Consensual Dual Agency is legal, alive and thriving. However, it is doing so at the expense of fairly and honestly representing clients. In a consensual dual agency transaction where one agent represents both the buyer and the seller, who exactly is the agent representing? The agent cannot give either side preference, so the agent cannot make any recommendations as to how to counter, what to offer (doing a cma for Buyer?), how to negotiate, ..... Who do you best represent if you are that agent? Wouldn't that be yourself and your brokerage?
If a brokerage does not practice Appointed Agency (where the broker appoints different agents/broker to represent each client), then ALL the agents in that office represent both clients as consensual dual agency. Again, how do you best represent your clientS, because you represent each side?
In reality we need to educate the public on how they are or are not represented. To say to a seller, "Consensual Dual Agency just allows us to show our buyers (the brokerage's buyer clients) your property, is misleading and not factual.
Consensual Dual Agency is not legal in a number of states, where it is legal, how do you get the information out to the public?