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DUAL AGENTS, BUYER'S AGENTS AND LISTING AGENTS

Many people get confused about who can best represent them in a real estate transaction. I've heard from several buyers that they want to only deal with a listing agent, which is very puzzling. By the very definition, a

Buyer's agent represents a buyer in the real estate transaction.

It is their responsibility to make sure all inspections, compliance issues, assessments, fees, title matters are addressed and in now way overburden the buyer they represent. Many conditions of sale can put a buyer at a disadvantage and without excellent representation, they can be stuck with a mistake that can effect their lives and their future. They look out for the buyer's interest and can negotiate reasonably or agressively on the buyer's behalf securing the best possible price.

A listing agent represents a home seller in a deal. It is their responsibility to get the highest price possible for the property, show it in it's best light, minimize any flaws or disadvantages in order to make sure the house is sold. They tend to gloss over potential hazards that might snag the sale (well within the confines of ethical practices and the tha law, of course) but their ultimate goal is to get the property sold with the maximum cash in hand for the seller.

A Dual Agent represents both a seller and a buyer. This arrangement is illegal in some states, but where it is allowed, the agent must be impartial. This means that they must be impartial for the buyer or the seller. However, it also means that they cannot take an agressive stance for the buyer or for the seller as they would be violating that impartiality obligation. Thus they acheive a mild compromise, and cannot pursue a harder negotiating position where possible or needed.

I do not advocate dual agents status nor feel that any listing agent can ultimately look out for the complete best interest of a buyer. It is possible, but not very likely. Their allegiance is to the seller and to make the sale at all costs.

A buyer's agent can always suggest walking away from a deal gone sour or recommend against a purchase that is not in the buyer's best interest. A dual agent cannot, and thus cannot fully represent a buyer's best interest as a buyer's agent can.