Can a real estate agent represent both the buyer and the seller?
Short answer? Yes. But there are a few things you’ll want to think through before going this route:
- When you hire an agent to work just one side of the transaction, you get a “fiduciary relationship.” What this means is your agent has the responsibility to uphold your best interests in good faith. Translation: Your agent is looking out for you and you alone.
- When you work with an agent on both sides of the transaction, you forego this benefit. Called a “dual agency,” the agent represents both you and the other party (buyer and seller) and is supposed to remain neutral to both parties’ interests. Because of this, dual agents tend to leave the buyer and the seller hashing out the details of the sale without the benefit of an agent’s expertise and advice.
- While it may work in special circumstances, the most common arrangement is for each party to have their own agent looking out for their best interest.
After all, at the end of the day, whether you’re buying or selling, you want to walk away knowing you received the FULL advantage of working with a professional and knowledgeable agent.