Duel Agents

Buying a home isn't something that takes little time and energy like going to the mall and buying a baby feeding set. There are things that sometimes aren't disclosed to potential home buyers when they're out house hunting, which is why you need to be as fully prepared as possible. And that's why we're going to delve into the murky area of dual agents and how you can protect yourself from a potentially dangerous situation.

You already know that buying a home isn't easy. It's a complicated process and you can't be expected to comprehend all the rules and procedures. This is why you turn to professionals to guide you through the process. It's one thing to buy inexpensive aquarium test kits on your own but it's another thing to spend hundreds of thousands of dollars on a house without guidance. You want an agent's expertise and knowledge about the real estate market. You expect them to be there to help you when looking at houses to buy. And that's exactly what they do. They are there to look out for your best interests.

But sometimes that isn't exactly the case. Right off the bat you might already have alarms going off inside your head at the thought of dual agents. How could a real estate agent or agency represent both the seller and the buyer? Wouldn't that create a conflict of interest? For the most part that's the biggest problem that surrounds dual agency. Dual agents might insist that they'll be loyal to both sides. But that isn't always the case. And you should, as a buyer, be wary of getting yourself in a potentially muddy situation. Buying fresh produce from a greenhouse supplier is a safe transaction and there isn't any reason why buying a house shouldn't be just as safe and painless.

Your goal is to pay the lowest price possible and the seller's goal is to get the highest price possible for a home. So, what does an agent do when they are basically working two angles? One side is going to lose. But which side is that going to be? Also, agents tend to learn information about their clients. Information that could be useful when selling a home. Or information that could be useful to potential buyers. For instance, what does a dual agent do when they know their client needs to sell their home fast because the waste water grit removal company they work for are relocating them? Or what happens if you tell them information about your finances which could be used in the seller's favor? It's a confidentiality issue that you should be aware of. You might also want to consider keeping any information that could help the seller to yourself.

We're not saying that all dual agents out there won't help you and aren't to be trusted. That's not the case. We just wanted to help shed some light on how dual agents aren't always looking to help just you, the buyer. But that they are also helping the seller of the house. And that there could be a conflict of interest down the line. We just want you to be aware of what you're getting yourself into when working with a dual agent. And it's something you should be concerned about whether you're looking at homes in California or Liberty on the Park.