Definition: Dual Agency

Definition: Dual Agency

The representation of opposing principals (buyer and seller) at the same time. In brokerage, many states get around this by saying that the agent aids the buyer but is the agent of the seller only.
Michigan law states that if a brokerage firm has a listing, the rights of that landlord always come before the tenant. In other words, it is the listing agent’s duty to get the tenant or the buyer to pay as much money as possible. The tenant or the buyer is under the impression that their interests are being represented when they are not. NOTE: In residential real estate, agents must identify in writing who they represent. It is not this way in
commercial real estate.

 


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