David C. Witt represents both sellers and buyers as a broker sales agent with Realty Professionals Heartland, LLC, in Blue Springs, Missouri. Drawing on more than three decades of experience in the real estate industry, David C. Witt continues to function as a top-rated agent within the local market, exclusively representing repeat clients and referrals.
Dual agency is a real estate term used to describe an agent who is representing both the buyer and seller in a property transaction. From either party’s perspective, particularly the buyer, the concept of dual agency might be somewhat unnerving, as it can seem as if the agent would be motivated to move the property at all costs in order to receive a double commission on the property. While industry bylaws and federal legislation protects buyers and sellers against exploitation, there are a number of factors to consider before entering into such an arrangement.
The drawbacks of dual agency are, in many cases, fairly obvious. Real estate agents in this position are legally prohibited from pushing for the absolute best deal either client can receive, as it would negatively impact the opposing client. While it is advisable to seek out an agent who has extensive experience representing both buyers and sellers, the vast majority of clients are better off working with a real estate professional who is working solely on their behalf.
The benefits of dual agency are relatively minimal and circumstantial by comparison. In some cases, agents may charge a smaller fee for services, as they are already benefiting from dual commission. More notably, a dual agency arrangement can facilitate more direct communication between clients, which can be particularly advantageous for sales occurring between familiar parties, such as family members. With that said, both buyers and sellers are strongly advised to seek out a knowledgeable agent dedicated to their desires, rather than an agent who is attempting to sere conflicting needs at the same time.
