Representing Both Buyer and Seller in Arkansas
Vision Realty in Mena, Arkansas,
What Does It Mean to Represent Both Buyer and Seller?
An Arkansas Real Estate Agent who enters into an agreement to represent the Seller and also enters into an agreement to represent the Buyer in the same transaction is known as a "Dual Agent."
A Dual Agency most frequently occurs when an Arkansas Real Estate Agent or Agents within the same real estate firm represent both Seller and Buyer in the same transaction. Both Seller and Buyer must have given their written consent to such dual representation prior to or at the time of execution of any Agency Agreement, Listing Agreement, or Real Estate Contract.
Both Seller and Buyer should be aware that a possible conflict of interest may exist in this type of representation. A Dual Agent limits the duties described above in representing the Seller and Buyer by written agreements found in the Agency Agreement, Listing Agreement, or Real Estate Contract. For instance, when representing both Seller and Buyer the Dual Agent would not disclose to one party confidential information obtained from the other party.
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|Typically Represent Sellers ►►|
|Can Also Represent Buyers ►►|
|Can Represent Both Buyers and Sellers ►►|
Regulation 10.10(b) of the
Arkansas Real Estate License Act
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