Risks Of Dual Agency
While Dual Agency is legal for Las Vegas Real Estate Agents to perform, some states do not allow Dual Agency. But why? While there can be solid reasons to getting yourself into a Dual Agency, plenty of risks exist.
Let’s say this; Dual Agency can make Fiduciary Duty harder for a real estate professional to perform correctly. Think conflict of interest.
Dual Agency Can Happen When:
- Listing Agent finds his client (the seller) his/her own buyer
- Unrepresented house buyer requests info from development
- Unrepresented house buyer visits an Open House
- There are several others ways Dual Agency can happen
Should Real Estate Consumers Be Concerned?
Yes. In a Dual Agency, both the buyer or seller are represented by the same real estate practitioner. Have we seen curious visitors stroll into the sales center of Las Vegas Strip condo projects and sacrifice their right to use their own agent/broker? Yes.
Something to ponder.