A buyer should make certain to ask whether a firm practices disclosed dual agency before signing a contract for buyer representation. Some buyers and sellers consent to disclosed dual agency to continue to work with the same real estate broker or salesperson. Others prefer the convenience of having one firm process the paperwork and otherwise handle the transaction. However, the buyer should learn the identity of the seller of the property in question before consenting to disclosed dual agency again. Buyers should make sure they receive an agency disclosure form from each real estate firm they visit, and should read and understand the form before signing.
Clients give agents a lot of information about themselves.
In return, they should not hesitate to question whom a real estate agent represents, what services the agent can provide, and how the agent will be compensated. Monica Staaf Esq. is general counsel for the Massachusetts Association of Realtors, headquartered in Waltham. She writes frequently about real estate topics.