Who does your agent work for?

Imagine hiring an attorney to file a lawsuit only to find out in court that she’s representing the other side, too.

When the shock wears off, you think back to all of those pre-trial meetings where you thought you were telling your lawyer things in confidence. And how likely it is that the attorney passed along a few “privileged” tidbits of information. And how crazy it is that she was collecting attorney fees from both parties in the same case.

Conflict of interest, anyone?

A scenario like that could never happen, because lawyers have rules against it.

But real estate brokers don’t. In fact, real estate regulations protect the opportunity to do exactly that.

It’s called Dual Agency and while it is outlawed in some states, it’s currently legal in Michigan.

Dual Agency arises when a single agent represents the interests of both the buyer and the seller (or the landlord and the tenant) of a particular property.

In real estate circles, agents have an affectionate name for the holy grail of Dual Agency: The double-dip.

To a real estate agent, a double-dip is not an ice cream cone with two of their favorite flavors. To an agent, a double-dip means collecting twice the commission from a single transaction.

We just think it’s a bad idea all the way around.

The General Counsel of the State of New York thinks consumers should be wary.

… by consenting to dual agency, you are giving up your right to have your agent be loyal to you, since your agent is now also representing your adversary. Once you give up that duty of loyalty, the agent can advance interests adverse to yours.”

And that’s why at Seller Nation, we don’t do it.

It’s a cornerstone of how we work and what we stand for. It gives us greater focus, it gives you better representation, and it ensures that we never work contradictory to your needs and goals.

Of course, we’ll always assist a buyer in purchasing your home…but we’ll never betray your confidence or our responsibilities as your fiduciary.