{"id":5317,"date":"2016-05-20T23:33:28","date_gmt":"2016-05-20T23:33:28","guid":{"rendered":"https:\/\/www.movoto.com\/foundation\/?p=5317"},"modified":"2016-05-20T23:33:28","modified_gmt":"2016-05-20T23:33:28","slug":"ultimate-homebuyers-guide-dual-agencies","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/ultimate-homebuyers-guide-dual-agencies\/","title":{"rendered":"Don\u2019t Fear the Dual Agency"},"content":{"rendered":"<p><a href=\"https:\/\/www.movoto.com\/foundation\/wp-content\/uploads\/2016\/05\/Dual-Agency_banner.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5349\" src=\"https:\/\/www.movoto.com\/foundation\/wp-content\/uploads\/2016\/05\/Dual-Agency_banner.jpg\" alt=\"Dual-Agency_banner\" width=\"600\" height=\"125\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.movoto.com\/foundation\/basics\/ultimate-homebuyers-guide-home-search\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-5393 size-full\" src=\"https:\/\/www.movoto.com\/foundation\/wp-content\/uploads\/2016\/05\/Search_thumb_22.jpg\" alt=\"Search_thumb_2\" width=\"300\" height=\"250\" \/><\/a>Dual agencies leave a lot of gray areas when it comes to loyalty, so many buyers are wary of agreeing to one. They are even illegal in several states, including Colorado, Alaska, and Texas. While a dual agency has the potential to work out against you (it\u2019s hard for an agent who\u2019s representing the seller to look out for your best interests as a buyer as well), it\u2019s not necessarily a bad thing.<\/p>\n<p>A dual agency can expedite the negotiation and transaction process. An agent who\u2019s also representing the seller will have more insight about the property and what areas leave the most room for negotiation. And because the dual agent doesn\u2019t have to split the commission with another broker, many agents working on dual agencies will accept lower commissions, so the seller will accept a lower bid.<\/p>\n<p>But don\u2019t assume a dual agency will guarantee you get the best price\u2014agents have a strict legal obligation to maintain their fiduciary duties on both sides of the transaction, so they\u2019ll have to make sure they\u2019re getting the best offer that makes both the buyer and seller happy. For that reason, in a dual agency, neither side gets the full benefit of having an agent fully devoted to their interests. It\u2019s impossible to simultaneously perform the duty of trying to buy for the lowest price possible while trying to sell for the highest price possible. Rather, the dual agent\u2019s job will be to try and bring the parties together at a mutually agreeable number.<\/p>\n<p>Nor is a dual agency a way to obtain secret information about the other party\u2014the agent is required to preserve the confidential information of both sides unless that information is material to the value or desirability of the property. But where the information is material to value or desirability, it must be disclosed to both parties. This can strengthen or weaken negotiating positions by revealing any out-of-the-ordinary aspects of the transaction that are important to the buyer or seller.<\/p>\n<p>As part of an agent\u2019s fiduciary duties, they have to disclose any potential conflicts of interest\u2014this includes dual agencies. It\u2019s illegal for them to perform a dual agency without your consent, and if you\u2019re uncomfortable with the arrangement, you can find other representation at any time.<\/p>\n<table style=\"width: 100%; border-spacing: 5px;\">\n<tbody>\n<tr>\n<td style=\"width: 50%;\"><a href=\"https:\/\/www.movoto.com\/foundation\/basics\/ultimate-homebuyers-guide-agency-types\"><span style=\"text-align: left; font-size: 11pt;\">&lt;&lt; PREVIOUS CHAPTER: Types of Agencies: Agent-Client Relationships<\/span><\/a><\/td>\n<td style=\"width: 50%; text-align: right;\"><a href=\"https:\/\/www.movoto.com\/foundation\/basics\/ultimate-homebuyers-guide-search-online\"><span style=\"text-align: right; font-size: 11pt;\">NEXT CHAPTER: Start Your Home Search Online &gt;&gt;<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/www.movoto.com\/foundation\/basics\/ultimate-homebuyers-guide\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5426 size-full\" src=\"https:\/\/www.movoto.com\/foundation\/wp-content\/uploads\/2016\/05\/Hombeuyers-Guide_button.jpg\" alt=\"Hombeuyers-Guide_button\" width=\"334\" height=\"48\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dual agencies leave a lot of gray areas when it comes to loyalty, so many buyers are wary of agreeing to one. They are even illegal in several states, including Colorado, Alaska, and Texas. While a dual agency has the potential to work out against you (it\u2019s hard for an agent who\u2019s representing the seller to look out for your best interests as a buyer as well), it\u2019s not necessarily a bad thing. A dual agency can expedite the negotiation and transaction process. An agent who\u2019s also representing the seller will have more insight about the property and what areas [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[167,260],"tags":[],"class_list":["post-5317","post","type-post","status-publish","format-standard","hentry","category-basics","category-buyer","post--single"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Don\u2019t Fear the Dual Agency<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.movoto.com\/blog\/ultimate-homebuyers-guide-dual-agencies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don\u2019t Fear the Dual Agency\" \/>\n<meta property=\"og:description\" content=\"Dual agencies leave a lot of gray areas when it comes to loyalty, so many buyers are wary of agreeing to one. They are even illegal in several states, including Colorado, Alaska, and Texas. While a dual agency has the potential to work out against you (it\u2019s hard for an agent who\u2019s representing the seller to look out for your best interests as a buyer as well), it\u2019s not necessarily a bad thing. A dual agency can expedite the negotiation and transaction process. 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