Representing both the buyer and the seller in a real estate transaction, known as dual agency, is a situation that requires a heightened level of care and impartiality. At Realty Empire, we ensure that all parties are fully informed of the nature of a dual agency relationship and give explicit written consent before proceeding. As the agent handling both sides of the deal, it’s your ethical obligation to treat both the buyer and seller with equal representation, maintaining confidentiality and providing equitable advice without favoring one party over the other.
When setting up a transaction as a dual agent, start by ensuring all disclosures regarding dual agency are clearly presented and acknowledged in writing. This will include outlining your role and the limitations of dual agency, such as the inability to provide exclusive advice or negotiation support to either party. Communication is key; you must facilitate the exchange of information between the buyer and seller fairly and transparently, keeping the interests of both parties in mind. It’s also crucial to manage all documentation meticulously, ensuring that all offers, counteroffers, and agreements are presented in a timely and unbiased manner. At Realty Empire, we prioritize the integrity of the transaction, and as your broker, we provide oversight and support to ensure that the process runs smoothly and ethically, safeguarding the trust of all clients involved.
