Dual Agency and Designated Agency
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When we list a property, an agency relationship is created between Realty World East Carolina and the seller. In other words, Realty World East Carolina and an agent from our firm represent the seller. Realty World East Carolina may also form an agency relationship with buyers. These buyers develop a level of trust in the agent, who is obligated to put their interests first.
A particular buyer who is represented by Realty World East Carolina may be interested in purchasing a property listed by Realty World East Carolina and this situation creates a dual agency. If this occurs and you have not already agreed to a dual agency relationship in your (written or oral) buyer agency agreement, your buyer’s agent will ask you to sign a separate agreement or document permitting him or her to act as agent for both you and the seller. It may be difficult for a dual agent to advance the interest of both the buyer and seller. Nevertheless, a dual agent must treat buyers and sellers fairly and equally. Although the dual agent owes them the same duties, buyers and sellers can prohibit dual agents from divulging certain confidential information about them to the other party.
