Question---"Dual Agent" because of same realty company???

[Jim P.]

Hello all,

I'm about to submit an offer on a duplex in Montana (I live in Boise Idaho). Anyway, I just received all the offer paperwork for me to initial/sign. I saw that my buying agent and the listing agent work for the same realty, and are both listed as "dual agents" on my paperwork.

I've researched quite a bit (and feel mostly ok about this)--- but am asking you pro's. Is there anything i should worry about? Is this the same as a different listing agent/buying agent (and must keep confidentiality)--- except they work at the same place?

anything i should be worried about?

thanks!

Jimmy

[Joel Owens]

Where I am at that would be considered " designated agency " where the brokerage designates one agent for the buyer and one agent for the seller to negotiate and represent them on their behalfs.

If either party is not comfortable with the designated agency then they can choose to use another company if desired.

Dual agency is entirely different. This is stating the same broker or same agent has a client relationship with both parties. In many states dual agency is not even allowed by law.

A broker or agent in many cases can still get the whole commission by having the seller or buyer as the client and having the other party as the customer performing "ministerial acts" only for them.

Ministerial acts for example can be filling out a contract but not answering questions from the customer on what's the lowest they will accept and other key data the seller might have given in a client capacity. It's a fine line to tread and cautious waters for a broker/agent.

Each state has their own terminology on things so just make sure you understand if you are a client or a customer before negotiating a contract and purchasing something.

No legal advice.