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In real estate there are essentially three common types of agency. Sellers agency where the real estate agent represents the seller, buyers agency where the agent represents the buyer and dual agency where the agent represents both.

Dual agency frankly is the worst thing they have every allowed in real estate sales. In fact a number of states have banned dual agency.

Why is it bad? When you agree to single agent dual agency the agent you initially hired to represent you no longer does!

Lets say you are selling your home and hire an agent because you think they are very knowledgeable and have given you great advice.

You hire this agent thinking when you get an offer you'll continue to get sound advice. When the home inspection happens and the buyer is asking for repairs on certain items the agent will be in your corner giving you more guidance.

Fat chance! Yes you read that correctly. If you agree to dual agency your agent will no longer be able to give you any guidance by law. This in a nut shell is why dual agency benefits no one but the agent.

Take a look at the detailed article that covers exactly why dual agency should be rejected.

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Dual agency can be a confusing term for consumers. Heck there are a lot of real estate agents who can't really explain dual agency well.

In a nutshell dual agency is when a real estate agent works with both the seller and the buyer in a real estate transaction.

Both home buyers and sellers often wonder how dual agency works in a real estate transaction. The answer, unfortunately, is not well for either party!

In dual agency the real estate agent represents both sides in the transaction. A similar analogy would be a lawyer representing both the plaintiff and the defendant. If that doesn't sound completely moronic then I don't know what does.

The fact of the matter is this is exactly how dual agency works in real estate. There is very little benefit for a buyer or seller to use the same real estate agent in a real estate transaction.

One of the biggest benefits of working with a particular agent is to get their counseling and advice. This is why it is highly recommended to interview a number of agents to begin with.

When a Realtor becomes a dual agent they are trying to serve two masters which is impossible to do.

Do you want to know what you should offer on a home? If you are a buyer in a dual agency situation a real estate agent cannot give you any advice on pricing.

The same can be said for the seller. The agent cannot guide them on what to counter offer. All parties in this arrangement lose big except one - THE REAL ESTATE AGENT!

The agent is the only one who benefits from dual agency. It is the exact reason you see some agents arguing that it is perfectly acceptable.

There is one word for this kind of agent and it is GREEDY. Consumers do not benefit from dual agency. It should be outlawed in every state!

If you find the advice here helpful on dual agency, please consider sharing it. There are a lot of consumers that can be helped by reading this article.

Buying and selling a home can be complicated enough without some fancy real estate jargon confusing things even further.

One of the most important things, however, that you need to understand when buying or selling a home is agency disclosure. Essentially who represents who in the sale.

What is dual agency? This is a question that lots of buyers and sellers don't understand. Frankly, there are quite a few real estate agents who don't understand it either.

Dual agency, depending on where you are located can mean one of two things.

In some states dual agency refers to when a single agent represents both the buyer and seller in one real estate transaction.

A good example would be a real estate agent having a listing for a house and a buyer calling that agent to view it. The agent listing the home could become a "dual agent" and work for both the buyer and seller.

In other states, dual agency is when two separate agents from the same firm each represent the buyer and seller. In this scenario the buyer and seller have representation from their own agent.

Dual agency when one agent represents both the buyer and seller should be outlawed. This kind of arrangement does nothing to help consumers. The only benefit goes to the real estate agent who essentially makes a double commission.

The agent is not allowed to perform the same services they would if they were a respective buyer's agent or seller's agent.

Both buyer and seller give up their right to have good solid counseling throughout the transaction.

If you are going to be buying or selling a home make sure you understand how agency law works in your state.

If dual agency is one agent representing both parties - STAY AWAY! There is nothing good that can come out of this situation.