You might have heard of “dual agency” as you shop for your
new home. The term is just real estate jargon for when the same agent
represents BOTH the buyer and the seller in a real estate transaction. It’s
kind of a controversial topic throughout the real estate industry (in fact,
dual agency isn't
even legal in every state, but it is in PA), and we at
EveryHome do not engage in dual agency. Here’s how it works:
When
an agent is representing a seller, it is their fiduciary responsibility to get
the highest price possible for the seller. Similarly, when an agent is
representing a buyer, it is their fiduciary responsibility to get the highest
price possible for the buyer. You can only imagine how messy it can get when
the same agent is working with both buyer and seller: ultimately, both parties
may end up missing out on the best deal.
Buyer
beware: If you call the number on a “For Sale” sign outside of a home you'd
like, you'll likely be represented by the seller’s agent. It might be a better
option to just let your agent know the address of the home you like, and they
can get you the information and show it to you in person!
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