The Risks & Benefits of Working with a Designated Real Estate Agency
AuthorReal Estate Experts. Date:
If you’re unfamiliar with the term “designated agency,” it is when the buyer and seller of a home are each represented by separate real estate agents who belong to the same . The agents agree to cooperate with each other and share any commissions that may result from the sale. This is different from working with a dual agent, in which one agent represents both the buyer and the seller. While this may seem like it would be easier (and cheaper) for the consumer, there are actually a number of risks involved. In this article, we’ll touch on the differences between dual and designated agencies in a real estate transaction, and explain the risks and benefits associated with using a designated agency. What is Dual Agency? In a dual agency situation, one real estate agent represents both the buyer and the seller in a transaction. This can be advantageous for … Continued
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