Do you know the difference between a buyer's agent and a dual agent?

Any agent can call themselves a buyer's agent, but if they list homes or work for a company that list homes buyer agency cannot be guaranteed. Check out [Website removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
  • February 05 2014 - Goldsboro
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Answers (4)

Profile picture for Outer Banks N C
Check this out Peggy

 learn more, read Zillow's Good Neighbor Policy.


What many do not understand is that two different agents in the same office will be dual agents if one lists the house and the other works with the buyer. That is a dual agency which is the correct term. All listings belong to the company, NOT the agent, so 2 agents in the same company with one buyer is a dual and needs to be disclosed. It does not have to be the same agent listing and selling, it can be two in the same office.

Next we can discuss Designated Agency. In Florida they have transitional brokers (or something like that).
  • February 06 2014
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It seems that New Jersey is similar to Illinois. Dual Agency is more specific than just a general term for an agent who represents buyers and also represents sellers. Dual Agency refers specifically to an agent who is representing both a seller and buyer in the same transaction. Both parties must sign a disclosure agreeing to the dual agency--typically at the time of listing the seller is asked to sign the disclosure to allow the agent to act as a dual agent, should the event arise. The disclosures spell out what a dual agent can and can't do for their clients. If either party does not agree to the dual agency, a neutral party is asked to step in to act on one side's behalf.
  • February 06 2014
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In New Jersey a Realtor can act as a buyers agent, sellers agent, or a disclosed duel agent. If an agent is acting solely as a buyers agent or sellers agent not they are not allowed to represent both sides not only for their own personal listings but it also any listing that is in their office. As a disclosed duel agent you can show or sell to anyone and if the listing/buyer is their own or from the agents office they must inform the client of that fact..  At first substantial contact an agent must go over and have their client sign a Consumer Information Statement which describes the different roles and the client must designate what role they want their agent to play.  It is in all clients best interest to designate their Realtor as a Duel Disclosed Agent. As a buyer it opens up the number of properties that are available to choose from and as a seller it opens up the number of potential buyers. 
  • February 06 2014
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Profile picture for Sharon Lewis
Peggy, buyer agency on the North Carolina contract is pretty clear, a buyer can choose to go with either 'exclusive buyers representation' or 'dual agency' or  'designated agency'. Some firms still practice designated . Its all spelled out on Working With Real Estate Agents that is put out by the North Carolina Real Estate Commission http://www.ncrec.gov/Brochures/Print/WorkingWith.pdf
Many sellers also use their agents to find them a  home which would put those agents and sellers into a dual agency position or many agents will pull up in front of a house that is listed by their firm or by the actual 'buyers' agent, which again would put them into a dual agency position . To go with an exclusive buyers agent agreement would be difficult in the last case, because that buyer would need to change to dual agency.I know this is simplifying things a bit, however I hope it is helping buyers. Its more helpful for buyers and sellers to go over the Working With Real Estate Agents brochure which every agent must present at 'first substanial contact'
  • February 06 2014
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