It takes an expert in negotiation to perform dual agency.
In a market that is so one sided, being that it is a buyers market it is more difficult to perform dual agency
About a year ago I wrote a post about my experience sitting buyer and seller down at a table and coming to terms.
It was like soaking everyone in Gasoline and passing around a match. It was very scary. I had a great risk at losing my sellers, and buyers.
Everyone walked away happy, and I remain in monthly contact. It was a great experience.
So why do a dual agency.
1. The buyers and Sellers want to?
As a listing agent I find the buyers all the time. The buyers want to buy, the sellers want to sell. It is your job to put the deal together.
"Oh, so you can collect a full commission on both sides"
That is the typical thought of a Real Estate agent who has never even stood in a room with a buyer and seller at the same time, let alone negotiate a deal.
Most typical is about half the commission, what do you think happens when buyer and seller are 10K apart, and that`s my final offer! The Realtor gives it up!
How often will you have a buyers agent and a listing agent split 10K?
So when you come across buyer and seller who both want to use you as their agent, are you suppose to "Refer" to another agent, ( do you get a referral fee?, do you disclose that? ) and run the risk of that other agent screwing up the deal, and how is this buyer suppose to "trust" your recommendation?
Have you ever done a house swap? Those have dual agency written all over them.
The Fact is Dual agency happens
It is not Illegal or unethical. It is a service provided to buyer and seller.
Now before I get all the nasty hate mail, because I am not afraid of doing my job!
I explain how I work dual agency at all listing appointments, and the commission structure.
When I meet a buyer, and they are interested in my listing, I explain that they can find another Realtor on their own, or we can all sit down together. My goal is to sell the house.
Side note: Tell a buyer to go find another Realtor, you will be amazed how much more they want to use you.