Clearing up confusion on agency relationships. especially about Dual Agency in Delaware.
When you buy a home, be very aware of who represents you when in a real estate transaction. Is Dual Agency even Legal? Who looks out for your best interest? Watch below to find out more!
What is dual agency? Hi, this is Kathy Sperl-Bell of Active Adults Realty in Delaware. Well, dual agency happens when one agent is actually working with both the buyer and the seller in a real estate transaction. So, in Delaware that’s totally legal, the same agent can represent both the seller, whose home they have listed for sale, and a buyer who may have called them about that particular home. That’s perfectly legal.
But if you’re the seller, do you want the listing agent to be bringing buyers and trying to sell your home? Well, of course you’re saying isn’t that why I hired that agent? But let me suggest that you think about that for a minute. The real reason why you want to hire a professional listing agent is to market your home and make sure that anyone out there, any agent working with any buyer that could possibly be interested in your home is going to know about it right away, is going to want to show it, is going to want to sell it. That’s what a good listing agent will do for you.
That doesn’t mean they might not also produce a buyer, but that shouldn’t be the primary objective. And you, if you’re a buyer, you should be thinking I’d like a buyer agent to represent me, to be on my side, and help me find the right home in the right location, something I’ll be happy with for a long, long time to come.
So, you don’t really want to be … I mean you could look on the internet, but you don’t want to be seeing homes listed for sale and just contacting all the listing agents, or driving through neighborhoods and calling people from the sign. Because think about it, they work for the seller, okay?
So get together with a good buyer agent early in your process, so that you have plenty of time to get familiar with the area, form a relationship with the buyer agent, and that is the best way to find something that’s going to really work out for you, that you’ll be happy in for long, long time to come.
Earlier this year, I wrote a more detailed article talking about dual agency, which you can check out right here: What does Dual Agency mean when it comes to Real Estate? If you still have questions, you can always email Broker@ActiveAdultsRealty.com or give me a call 302-424-1890 to have a conversation on how to ensure you have a Buyer Agent working for you as you look to buy your new home. Come and download our BRAND NEW Delaware Home Buyers Guide Here.