Technology 

Is dual agency illegal in some states?

Joe Ford

Is dual agency illegal in some states?

Dual agency occurs when a buyer and seller let a single real estate agent (or two agents from the same brokerage) represent them in a transaction. Dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Maryland, Oklahoma, Texas and Vermont.

Can a real estate agent represent two buyers on the same property?

Legally and ethically, it is possible for a real estate agent to represent two or more competing buyers on the same property. The real estate agent would have to disclose to all parties that there is a multiple representation situation.

Can a buyer and seller use the same Realtor?

Working with a seller’s agent is always an option when you’re buying a house, but should you? In the real estate biz, one agent representing both the seller and the buyer is called dual agency. Although it’s legal in some states, many real estate agents—and house hunters, too—see dual agency as a conflict of interest.

Can you negotiate realtor fee?

Realtor fees are technically always negotiable, regardless of what an agent or broker might tell you. But your ability to negotiate a lower rate — and how much lower — may depend on a variety of factors, including your property, demand in your area, the agent’s relationship with their brokerage, and more.

Should I use the seller’s real estate agent?

The biggest advantage may not be saving money, but the possibility of having a leg up on other buyers by having the seller’s agent know what the other offers are and helping you make the best offer. Some unscrupulous agents may do that, but legally they represent both sides and must be fair to both sides.

Is it OK to contact the sellers agent?

Can buyers contact a listing agent directly? Technically—yes. The only people who may frown upon contacting a listing agent are buyer’s agents, who make their commissions based on representing buyers. But there is no law or rule saying a buyer cannot contact a listing agent.

Can I contact the seller of a house directly?

Just in case you’re wondering, there’s no legal restriction that stops buyers from approaching a home-seller directly, and asking them about selling their home directly, by-passing an auction or estate agent. The home-seller is not breaking any laws, either.