Dual Agency is when the same Real Estate Agent represents the buyer and the seller. As an Agent, I'm not going to lie, this seems like a pretty sweet deal at first. Who wouldn't want to double their paycheck?
A lot of buyer's and seller's often feel if they play the dual agency card, they can negotiate a deal, not have to pay the full commission cause only one Agent is doing all the work.
Well.... it doesn't quite work that way. First of all the Listing Agreement (document that lists commission paid) is between the brokerage, not the agent, and the seller. Once the document is signed, it is an executed contract and the commission can't be changed if the agent is representing both parties or only one. So for all you buyer's out there that think you will save money by contacting the Listing Agent directly, you won't. Not only that, you are probably hurting yourself in the long run.
This brings me to my second point. The Quarterback can not play both sides of the field. It doesn't make sense. Just like you don't want the same attorney representing you and the other guy! As a Real Estate Agent representing you, I will represent you with your best interest's at heart. I will fight for you. If you are the buyer, my job is to get the lowest price and negotiate repairs in your favor. How can I possibly do that if I am supposed to represent the seller as well and try and get them as much money as I possibly can? Can you see the contradiction?
If you contact the listing agent and they show you the house, do NOT talk to them about the house. Ask if they have a referral for another Agent, or better yet... give me a call.
Majority of the time, purchasing a house is the biggest investment you will make. Make sure you hire someone who has your best interest at heart. Someone willing to go the extra mile to make sure you are taken care of. They have a great team of professionals that will walk you through the home buying process every step of the way.