What is Dual Representation in Real Estate? And Why You Should NEVER Use a Dual Representation Agent
2,015 views · Published 17 December 2016 · 3:32 · Indexed 4 November 2026
Channel: Matt Leighton · 2016 · News & Politics
In this video, Arlington, VA real estate agent and Realtor Matt Leighton talks about dual representation and why you should never use dual representation when purchasing or selling a home. Subscribe for more Arlington VA videos: http://www.youtube.com/subscription_center?add_user=themattleighton Real Estate Continuing Education Online Classes: https://goo.gl/Cr4Tpf Looking for a real estate agent in your city? I have a network of top producing agents around the country. Email me and I can put you in contact with an agent in your area [email protected] Find Matt here: https://www.snapchat.com/add/mpleighton https://www.facebook.com/TheMattLeighton https://twitter.com/TheMattLeighton https://instagram.com/TheMattLeighton https://www.linkedin.com/in/TheMattLeighton Arlington VA Real Estate blog: http://www.rhlarlington.com/ What is dual representation? Dual representation is when one agent represents both sides of the real estate transaction. It most commonly occurs when a listing agent is approached by an unrepresented buyer that is looking to purchase that agent's listing. Or when an agent's buyer client is interested in a property for sale that is listed by that same agent. The goal of dual representation is for one agent to represent both sides of the transaction fairly. Matt argues that this situation is impossible. How can one agent treat both sides fairly when both sides are disclosing confidential information to that agent? When an agent agrees to dual representation, that agent is also agreeing to only disclose information that is relevant to the property to both sides. That means any sort of other information, i.e. seller needing to sell ASAP, buyer can purchase the home for $10k more than what they offered, can not legally be disclosed to the other side. Essentially, the agent loses power and ends up being a paper pusher. Compare that to having a savvy buyer's agent or a savvy listing agent. If either agent can find out information about the other side's intentions, you have just gained a tremendous amount of leverage in the deal. Buyers agents are worth a significant amount of value. Having the listing agent represent you as a purchaser could cause headaches in the end. When the deal starts to go sideways, you want someone to protect your best interests and be on your side. You don't want an agent who has half their interests vested in the seller and half their interests vested in your well-being. Some may say that you can save money by only using the listing agent. While it's true that the listing agent may cut their commission if they are doing dual representation, are you really saving money? Let's say the listing agent agrees to cut their commission 1%. Couldn't an experienced buyer's agent get you 1% off the list price? Or potentially much more? Absolutely. Never opt for dual representation. If offered and you don't want to hunt down a buyer's agent to represent you, try asking for 'dual agency'. This is when two different agents from the same company represent each side in a transaction. Video location: Woodstock Park - Arlington, VA https://goo.gl/maps/oARtK8yK6b72 (map) MY EQUIPMENT LINKS TO AMAZON The camera I use - https://goo.gl/3n13gS The lens I use - https://goo.gl/hS8a1s The mic I use - https://goo.gl/kSeu8J The memory card I use - https://goo.gl/t4wdXj The camera flash I use - https://goo.gl/pi2gmj The gimbal I use - https://goo.gl/xKMj8t The gorilla pod I use - https://goo.gl/jLLL5q The intervalometer I use - https://goo.gl/EV2KWo The iPad I use - https://goo.gl/G9onPp Business inquires [email protected] Matt Leighton - Arlington VA Real Estate Agent Licensed in VA and D.C. Century 21 Redwood Realty 1934 Wilson Blvd Arlington, VA 22201 https://www.youtube.com/watch?v=7mKGaOmOYKw
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