If you’re selling your house, you shouldn’t ask any agent that practices dual agency to represent you. Here’s why.
What is dual agency?
Dual agency is when an agent represents both the buyer and the seller in the same home sale. Why should you avoid this situation when selling your house?
Let me put it this way: how can an agent equally represent both sides when the seller is trying to sell the house for the highest price they can and the buyer is trying to buy it for the lowest price they can? If I’m representing a seller and I get a call from a buyer who’s interested in that seller’s house and also wants me to represent them in purchasing that house, that’s a problem because the seller has already hired me to look out for their best interests. They have my fiduciary duty to sell their home and get the most money in the shortest amount of time.
If you’re thinking about selling your home this year, you should ask every agent that you interview if they practice dual agency. You need to find out whether your agent will also represent a buyer that comes directly too them, or just you.
My suggestion is to only work with an agent who doesn’t practice dual agency. Not only can a dual agency situation cost you money when you’re trying to negotiate the price up front, but it can also cost you money when negotiating repairs and other terms during the transaction process.
If you have any questions about this topic or are thinking of buying or selling in the East Bay market, feel free to give me a call or shoot me an email. I’d be happy to speak with you!