EXIT Realty Foothills Explains Dual Agency

FOR IMMEDIATE RELEASE

Contact:
Jessie Eide
Realtor
EXIT Realty Foothills
909.593.0502
admin@ourexitteam.com

EXIT Realty Foothills Explains Dual Agency

The Ins and Outs of Working with a Dual Agency Real Estate Agent

La Verne , Ca (Grassroots Newswire) 10/21/2010 -- Sometimes buyers and sellers find out they are working in a dual real estate agency relationship. This is not usually a problem, but it is important to know what it means to be working with a real estate agent in a dual agency relationship and the restrictions that will be placed on that agent.

So what is a dual real estate agency? First it is important to define “agency.” Agency shows the relationship that the buyer/seller has with their real estate agent. With that being said, it is easy to understand that a dual agency means the agent or broker is representing both buyer and seller.

For example, if a buyer does not have a buyer’s agent and wants to put an offer on a home, they can ask the listing agent to write their offer. This is dual agency. Dual agency can also take place when both seller’s and buyer’s agent work in the same real estate office or work for the same broker.

There are of course, restrictions to dual agency. Real estate agents are required to treat both buyer and seller with equality and integrity. So an agent that is in a dual agency should not give exclusive loyalty to either client, which could be expected from a committed buyer’s or seller’s agent. This means when it is time for the buyer to make an offer the agent can not disclose how much to offer and they can not advise the seller to accept one offer over another.

It can however streamline the negotiating process, meaning it could get answers faster.

So as stated earlier, there is not usually a problem with dual agency as long as you know what it means and the restrictions that are imposed on the real estate agent.

For more information about EXIT Realty Foothills, please call 909.593.0502. EXIT Realty Foothills is located at 1339 Foothill Blvd, La Verne CA 91750.

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