How does Limited Dual Agency affect your relationship with your REALTOR®?
We can understand the fiduciary duty of loyalty better if we understand what it entails. In most real estate textbooks, loyalty refers to working solely in the interests of one client. That means giving the client our allegiance. It means giving whatever professional advice we can give to advance their interests, and no one else’s. It means advocating for their goals and interests.
In dual agency, however, when two parties’ interests are in conflict, the agent cannot advise, advocate, or give allegiance to either one if it gives them an advantage over the other client.
As for confidentiality and disclosure, in single agency we would disclose anything we learned about the other party that would give our client an advantage.
With dual agency, we cannot disclose any confidential information of either party to the other.
If you want to know more about this issue or any other real estate complexity, call me at 441-3102