General Question

2davidc8's avatar

Do you have a problem with dual agency in real estate?

Asked by 2davidc8 (7794points) November 7th, 2013

California law allows a real estate agent to represent both seller and buyer in a real estate transaction. Do you have a problem with this? Why or why not?

To me, this has always seemed a bit strange. It’s a little like an attorney representing both plaintiff and defendant in court of law. Maybe I’m missing something.

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8 Answers

JLeslie's avatar

In FL we don’t have dual agency we have transaction sales people or brokers. Their main duty is to keep the transaction together, they have limited duties to the sellers and buyers. I like this set up better than when the realtor was always representing the seller, even when the buyer had no realtor. If a realtor takes a listing in FL and starts off as a single agent to the seller, and the buyer interested doesn’t have a realtor, the broker must transition to a transaction broker and everyone is informed of the agents fiduciary duties and the legal expectations. Both parties can still get a lawyer and the agent still can’t lie about anything pertinent to the sale. No matter what the “agency” the broker 9 times out of 10 would want a deal that is in motion to close.

I’ll send your Q to a California realtor.

elbanditoroso's avatar

@2davidc8 – agreed. Having the same person representing both seems fundamentally unfair and potentially dishonest.

snowberry's avatar

I can see how it could be a problem, and I can also see how it could be useful, such as when you’re trying to sell a piece of property to a family member. Neither member has a desire to “make money” on the deal, and yet they want it to be legal.

creative1's avatar

If done correctly then it wouldn’t pose an issue with me. They allow it here in MA and if the agent remained neutral to each party and acted more as a mediator rather than providing advice it works. If the agent gave advice to the parties invovled then then that would pose a problem because they could inadvertently say something that could hurt the best possible outcome for both people.

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2davidc8's avatar

Thank you all for your replies. I’m afraid I haven’t followed up with further thoughts on this subject, to encourage more discussion, and the question has become “stale”.

I will revisit this topic with a related question in the near future.

ISmart's avatar

I have no problem.

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