With "dual agency", both the buyer and seller use the same agent. Dual agency is not a requirement. You might wish to have an agent represent just you the buyer, instead of sharing the same agent, especially if you think there would be any conflicts of interest. If you need more information, please email your questions to: Virginia.Stump@remax.net.
Actually, what really happened more frequently is that the seller took the money and gave the buyer a deed, but when the buyer went to record the deed, they found that some other buyer had gotten there first.
Today, a closing agent's job is to verify that the terms of the purchase agreement have been fulfilled, to get the deed recorded and get the money to the seller. Usually, this is in the best interest of the buyer.
Hope this helps,
Best of luck.