A “dual agent” is an agent who acts for both the buyer and the seller in a single real estate transaction. Often this occurs on “sign calls” where a prospective buyers drives by (or “surfs by”) a home they like and calls the agent associated with the property.
Dual Agency places the Real Estate Agent between both clients, and the Agent owes a duty to act in the bests interest of both parties, which naturally conflict. Therefore, dual agency is only allowed in very limited circumstances. As a Dual Agent, realtors must secure the consent of both parties, disclose all material facts to both parties, but must keep secret the buyers or sellers motivation or their own thoughts on pricing or negotiation strategy.