Our broker has a disclosure form that we must have both buyer and seller read and sign. The form covers fiduciary responsibilities, ethics, and legal. If one or the other party feels uncomfortable with the arrangement.......our broker suggests we recommend another agent step and represent the uncomfortable party, with the concurrence of that party.
In most cases, after full disclosure, both parties feel comfortable and agree to sign the form.
Under Arizona law, the representation described above is legal.........the key being full and fair disclosure.
As to sitting everyone down at the same table, that seems extreme, and often too difficult to arrange.
I've found that all of my clients are very happy to have me represent both sides, or to have my company represent both sides. They want to sell or buy, and they don't care that much about the limitations.
In Florida Dual Agency is illegal! What we do have is a transaction brokerage relationship where by both the buyer and the sellers need to sign and agree to informing them of the representaion that they receive.
Linda J Sears