The real estate industry is a complex web of transactions and relationships, with real estate agents often serving as the critical link between buyers and sellers. In some cases, a single agent may represent both parties in a transaction, a practice known as dual agency. While this arrangement can streamline the process, it also presents several potential pitfalls. This blog post explores seven reasons why dual agency can be problematic in real estate transactions.
In conclusion, dual agency can present several challenges and potential risks in a real estate transaction. Both buyers and sellers should consider these issues carefully before agreeing to such an arrangement. It’s crucial to have a clear understanding of the process and to ensure that your interests are being adequately represented. If you’re uncertain, consider seeking legal advice or hiring separate agents to ensure a fair and successful transaction. Remember, in real estate transactions, it’s essential to have a trusted advocate by your side.