Dual agency
One agent or brokerage representing both buyer and seller in the same deal. It needs written consent from both, and some states ban it.
Also called: dual agent, designated agency
Related terms
An agent who helps both sides close a deal without representing either one. Allowed in some states, like Florida and Colorado.
A form that tells a buyer or seller who the agent works for. Most states require it at or before the first real conversation about a property.
The legal duty an agent owes their client: loyalty, obedience, disclosure, confidentiality, accounting and reasonable care.
The agent who represents the seller. They price the home, market it, handle showings and negotiate offers.
The agent who represents the buyer. They find homes, set up showings, write offers and negotiate. Since 2024 most need a signed buyer agreement before touring homes.