Dual Agency Dangers

Dual Agency Dangers

 

When hiring a real estate professional, you expect them to look out for your interests and negotiate the best deal possible, right? But did you know that who you select can dramatically affect how you are represented? When one or two agents from the same company represent both the buyer and the seller in a real estate transaction, something called Dual Agency is created. With Dual Agency, your real estate company will be limited as to the level of representation that it can provide to you, and your agent will be prohibited by law from advocating on your behalf in negotiating price and terms. Many companies have hundreds or even thousands of agents, with Dual Agency happening way too often.

Picture that you are a seller and hire a large real estate company to sell your home. Your agent’s job is to represent your interests and negotiate the best deal possible for you. However, if any other agent from the same company represents a buyer for your home, Minnesota State law prohibits them from negotiating on your behalf or doing anything to the detriment of the buyer. Your exclusive representation is gone.

The same dilemma happens to buyers. If you want to purchase a home and hire a large real estate company to represent you, you lose that representation every time you have interest in a listing where the same company also represents the seller. Imagine excluding 20%-30% (or more) of all potential homes to buy in order to keep your agent working on your behalf!

At Nelson Family Realty, we are a family owned business providing excellent service since 1990. As a full service company, we can help you with all of your real estate needs, use our experience to negotiate the best deals possible and provide you with the representation you deserve. Why sacrifice your right to be fully represented on something so important?

Contact Information

Nelson Family Realty
16359 Impatiens Ct.
Lakeville MN 55044
Tel: 612-483-4663
Fax: 952-679-6305