What is a dual agent and what is a designated agent?
A dual agent is one who claims to represent both buyer and seller in the same transaction. A dual agent must disclose to all parties that they must give up most of their rights of representation. There is an agent called a designated agent now. NYSDOS has said that any agent can represent a buyer or a seller in a single transaction, but if the home is listed with the firm that represents the buyer, the broker is considered a dual agent (working for both the buyer and the seller). In other words, the broker of a traditional listing firm can designate an agent to represent the buyer for this specific transaction. We feel that although it is legal, it is very difficult, if not impossible for one office to fully represent both buyer and seller.
