What is a dual agency in a real estate transaction?

A dual agency in a real estate transaction is used when one real estate agent or agency represents both the buyer and the seller. The dual agent must remain impartial when negotiating the transaction and must provide equal representation to both parties. In New Hampshire, dual agencies are regulated by the New Hampshire Real Estate Commission and require the agent to provide a written disclosure to both the buyer and the seller prior to engaging in the transaction. The written disclosure should offer full disclosure and explain all the risks associated with each party. The dual agency must remain transparent throughout the transaction and must be free of any bias or favoritism towards either party. In addition, the dual agency must not divulge any confidential information to either the buyer or the seller during the transaction. The dual agency must also comply with all statutory and regulatory requirements and must always act in the best interest of both parties. It is important to note that dual agencies are typically used in residential real estate transactions where one party may have more experience and knowledge than the other party.

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What is a dual agency in a real estate transaction?

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