John-Michael Young

There are some very good answers to your question; what stands out the most to me is this misunderstanding [in our question] of what "dual agency" means. Dual agency means (in NJ) that the agent can represent both parties in a transaction (with written consent). My office (and many others in NJ) is a disclosed dual agency. We represent the buyer in a transaction (as a buyer's agent), but if a buyer chooses a home that myself or someone in my office has listed I automatically become a disclosed dual agent. Dual agency does not necessarily mean your agent is getting both sides of hte transaction. Is your agent the listing agent as well? If not, then there is no conflict. I find many transaction involving bank owned properties inform everyone the dollar amount of offers submitted. Unfortunately banks are not governed by the same code as realtors(r). Your agent may be providing you with infomration he has been given by the bank...which he is obligated to then pass on to you (his clients). There are too many details left out, my suggestion would be to discuss this with either the agent or his broker, so they can explain what has/is happening and elaborate on what dual agency means in your state. - Wed Sep 16 2009, 07:39