The Truth about Dual Agency
➡️ In the dynamic world of real estate, the concept of dual agency poses distinct challenges for agents. This scenario arises when a single real estate agent undertakes the task of representing both the buyer and the seller in the same transaction, frequently leading to conflicting interests.
✨ The alluring prospect of doubling one's earnings turns this into a coveted deal for most real estate agent, especially as business volume is decreasing. But in reality, maintaining impartiality for both sides is often unattainable and can be a hidden trap for clients. To finalize the deal, concessions must be negotiated, which might not align with the best interests of either party.
The idea of achieving equitable representation is often an illusion, as many agents prioritize the goal of doubling their income as the primary goal of the transaction, rather than the best interest of the clients. Greed clouds judgments.
The only party to truly benefit is the agent who receives double income for the same amount of work. Hence, this is the hidden trap for most uninformed clients who are tricked into believing they are best served with a small rebate. When the compromise their agent has to make to get the deal done, will far exceed the small rebate and result in an unfair exchange in value, which they will discover only when it is too late.
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