Dual agent for pocket listing good/bad?

[Keaton Smith]

I am currently in the due diligence period for a duplex that a realtor I work with has been working on getting to sell for a while. I was able to offer a deal that the seller is comfortable with and we have been moving along fairly well. However, due to my ignorance, I am now finding out that the realtor I am working with is also representing the seller as a dual agent.

Is this a common practice in REI to have dual agents in pocket listings? My understanding was that having an agent represent both parties was generally to be avoided.

Thanks for your input!

[Will Fraser]

Hi @Keaton Smith, the answers are Yes and Yes.  Yes, according to me and many it is advisable that you avoid dual agency when it is possible, as it helps align interests at no (or low) additional costs to you.

But yes, it is very common to have dual agency with pocket listings.  This is because they are pocket listings . . . they live in the pocket of agents who bring them out, often, when it most benefits them, like when they can represent both sides.

You might still get excellent, ethical service from the dual agent.  It's not guaranteed, but it's not impossible either.  Do your own due diligence and go in with eyes wide open, knowing that you are the primary one in the transaction representing YOUR best interests.