What makes it even stranger is that there are often laws and regulations that prohibit dual agents from fulfilling their duty to both clients. The Massachusetts Board of Registration of Real Estate Brokers and Salespeople requires that a dual agent be neutral in relation to all competing interests of the seller or buyer. Most buyers and sellers are familiar with the workings of listing agents and buyers, which leads us to wonder what an agency alternates in real estate is. Duale agency is not particularly common, but it usually happens from time to time, so it is always best to be informed of the intricacies of this type of transaction. My first transaction as a real estate agent was as a double agent, who represented both the buyer and the seller. The seller first tried to sell his house before asking for my help, and I was able to sell it to one of my clients. Whether you are buying a home in Providence, RI or Tampa, FL, it is typical of an agent representing the seller and another agent representing the buyer. With a dual agency, an agent works for both the buyer and the seller – and keeps the entire commission. The duale agency also occurs when the agents of the same brokerage represent each party. But like enjoying a huge piece of cake and having a stomach ache in return, there are certainly pros and cons to accepting the dual agency.
Designated Seller and Buyer`s Representative – In Massachusetts, a designated agency is licensed within a real estate company. The designated agency is when one agent within the company represents the seller and another a buyer. Only your designated agent represents your interests. A real estate licensee, usually the registration broker, is the one who determines the agents to represent separate parties in the transaction. At the end of the day, it can be summed up as what is most important to them. Do you care more about saving a little money and an optimized process, or do you want to know for sure that your agent really has your back? In countries that allow this practice, agents are legally required to inform clients if they are faced with a dual agency scenario – and they cannot move forward without the informed agreement of all parties. In addition, buyers and sellers have the right to unsubscribe and use another agent so that both parties have their own representation. If you have an online search for “What is a dual agency” or “How the dual agency works” they are required to see some articles from real estate agents who say that the dual agency is quite correct.
Do you know why a real estate agent would tell someone that an alternate agency can be done without a problem? In a word, GREED! The Duale Agency can also streamline the transaction process, whether you are the buyer or the seller. With one less agent in the mix, planning different events is a little easier. That`s how the duplicate agency works in California. An alternating agency occurs when the two agents are from the same agency. Unfortunately, since you don`t mention this fact in your article, people who read this from California don`t get the full picture. I just hope they will look further than the information you present here. Duale agency is a situation to be described when a real estate agent works with the buyer and seller. Most people familiar with the housing market know that a buyer`s agent works for the buyer, a listing agent for the seller, but there is a third category that is much more mysterious: the double agent.
When a real estate agent chooses to be a double agent, they receive a double commission because they represent both the buyer and the seller. For this reason, they may be tempted not to disclose important information to the buyer or seller, lest the agreement collapse and lose double commissions.