Lee Morof's Real Estate Blog

Whether you’ve decided to purchase a new home or list yours for sale, you’ll need to hire an experienced Southeast Michigan real estate agent. Selling and buying homes can be stressful, so you need to be able to trust and rely on your Southeast Michigan real estate agent to do what’s in your best interest, even if they’re acting as a dual agent.

While ‘dual agent’ might be a confusing term, it’s quite simple — the real estate agent is working for both the buyer and the seller of the home. As both parties will have a lot at stake, this could be perceived as a conflict of interest. Below we’ve outlined some of a dual agent’s obligations.

• An agent should disclose dual agency – As soon as a real estate agent realizes that a buyer is seriously interested in a property on which they have a signed contract, they should immediately be honest with both parties about the possibility of dual agency.
• Dual agents should represent both parties fairly – real estate agents are ethically obligated to treat both the buyer and the seller equally should a dual agency occur.
• Dual agents cannot disclose personal information – A dual agent cannot tell the other party about any personal issues associated with the selling or buying of the house, such as a divorce or financial distress. This is important because one party should not have the upper hand during negotiations.

If two Realtors within the same agency represent the buyer and seller, the transaction is still considered a dual agency. It’s completely normal to be a little wary of a dual agency when it comes to selling or purchasing a home with a Southeast Michigan real estate agent. However, it is fairly common, and as long as all parties are treated equally, it usually works out quite well.

If you’re getting ready to sell your home or purchase a new one and have questions about working with a dual agent, please call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney 
RE/MAX Showcase Homes, Birmingham, Michigan
Call:  248-514-2640
www.NorthWoodwardHomes.com