What’s Dual Agency When Buying A House?
Dual Agency is when a real estate agent represents both the seller and the buyer. In New Brunswick, we have salespeople and Agents. Agents are the companies that hire salespeople. Salespeople can represent the seller, the buyer or both. When they are representing both, it is considered a Dual Agency situation. What sometimes confuses people is when two people from the same company each represent the buyer and seller. This is still regarded as Dual Agency. If salespeople are involved in a Dual Agency situation, they must disclose it. Dual Agency means the salesperson must treat both parties fairly, while not sharing any information that could give one party a negotiating advantage. “5.2 Before entering into a Dual Agency, a REALTOR® shall have the parties’ consent in writing to this form of representation by executing a Dual Agency agreement clearly setting out the duties owed by the REALTOR® to each Client.” – CREA Code of Ethics