Do dualing agents help or hinder clients?

No, this is not about agents that are in a skirmish, that would be dueling agents (with an E). Dual agency is a real estate term used to disclose to the buyer and/or seller in a real estate transaction that the agent representing them also represents the interest of the other party to the transaction. If this sounds like a conflict of interest it may very well be! In some states dual agency is prohibited by law; however in Louisiana it is perfectly OK so long as both the buyer and seller are aware that dual agency exists and sign off on a "dual agency disclosure" making certain that both parties have a clear understanding of what they are about to enter into.

I have to admit that the opportunity for "double siding" a transaction (which means twice the income---since the same broker (thus the agent) is receiving both the listing side commission as well as the buyer's commission) is a "marriage made in heaven" but it's also a difficult position to be in. The very core of agent representation should be an unfettered loyalty to the party the agent is representing. How can anyone represent both parties in the same tranaction at the same time? Agency (at that point) has been reduced to merely becoming a " mediator or referee ".

Over the years, I have saved clients a considerable sum of money with savvy contract verbiage. I have capitalized on (the other) agent's lack of knowledge in the negotiating process. I have negotiated items, which often is not apparent to the buyer, resulting in the seller paying hundreds more to close the deal....and on and on. I question with dual agency what the outcome of some of these instances would have been.

Will I continue with dual agency deals when the opportunity presents itself? You bet I will. Would I discuss the complications resulting from dual agency with a potential buyer or seller? You bet I would. Should you always have a buyer's designated agent working for you? You bet you should! What do you think about dual agency? Will this blog change the way you select your real estate agent representation? Let me know. Your comments are always welcome. Make sure to visit my website at http://www.alan-realtor.com to get the latest and greatest info on real estate. SeeYou....