Before you read too far in this post, let me just say that I am writing from Virginia. Each state handles Dual Agency differently. If you are in a state other than Virginia, I am happy to try to help you find the resources to get clarity on your state guidelines.
- The listing agent becomes a Dual Agent and writes a contract for you.
- The listing agent drafts the contract for you as a 'ministerial act.'
- You contact another REALTOR® and they represent you in this purchase as a Buyer's Agent.
Scenario Three: Buyer hires their own REALTOR®. By now, I hope that you understand that this is my preferred option.
It is my preferred option even when I am the listing agent and have to pay a Buyer Agent commission. Some of you will think that getting another agent involved is leaving money on the table...yeah, maybe. For me, however, I think this is the way that I can provide the best service to my sellers and have the best outcome with the transaction. It is very hard to carry a transaction from contract to close and not provide advice to your clients. Frankly, I think that clients deserve advice, after all, most don't often buy or sell a house. In my mind, all parties deserve to be represented by a professional who is solely advising them.