Back in trhe day when I had to show caves from the back of my dinosaur, I questioned agency. That was 1979 as a new licensee. I immediatly decided that dual agenmcy should not even be legal. How couild it be pulled of? If not for the fact that many in the industry like to 'double end' commissions, dual agency probably wouldnt have ever been allowed. If I fall in your driveway am I going to call your lawyer to represent me? Hardly. I was making my own agency agreements before many states even considered it an issue, and designed a form for doing the real estate and mortgage transactions as a dual agent. Calif DRE legal services called it 'One of the most progressive' stands they had seen. In fact, Oregons current agreement for that is almost a carbon copy of my old one from circa 1982.
Why do I bore you with how great I am? lol. Its just that I could see agency could be a problem. If were a broker with agents, I wouldnt allow them to practice the profession without a TOTAL understanding of the rules/regs/liabilities. Thumbs up to Carla for bringing it up.
You have just identified a "dual agent" situation, or what we call a "Disclosed Limited Agent" here in Oregon. Exclusive Buyers Agents DID NOT enter into dual agent/disclosed limited agency relationships. EVER!
An Exclusive Buyers Agents, as defined by NAR is a Realtor(r) who DOES NOT TAKE LISTINGS. they do not work for a brokerage that takes listings and they do NOT represent the seller (not even in a "dual agent" / disclosed limited agency.)
Simply put, an Exclusive Buyers Agent never represents the sellers - directly or in sub-agency. The best form of Buyer Agency is EXCLUSIVE BUYER AGENCY, according to HUD.