What is dual agency with designated sales agents?
The principal brokermay designate twosales agentsfrom within the same company- onesales agent to ‘represent’ the buyer, and the other to ‘represent’ the seller on an in-house companylisting.The broker and each designated agent are dual agents. Each designated sales agentmay now’advocate’ for their respective ‘client’- aremarkableconflict of interest! The designated sales agent for the buyercannegotiate for the lowest possible price, while the designated sales agent for the sellercan negotiate for the highest possible pricein the same transaction.Keeping your interests confidentialis in jeopardyas both sales agents are workingfor the same firm, sharingfiles, computers, and attendingthe samecompany meetings.Unbalanced representationmay occur, with the more experienceddesignatedagenthaving an advantage overa less experienced designatedagent and their client. This is similar to being sued by a law firm, then hiring the same law firm suing you to defend you. Most peopleinstinctively would n
