Get the free Dual Agency Confirmation

This document serves as confirmation of dual agency representation between a seller and buyer in a real estate transaction, outlining the responsibilities and limitations of the disclosed dual agent.

How to fill out dual agency confirmation

How to fill out Dual Agency Confirmation

1. Begin by obtaining the Dual Agency Confirmation form from your real estate agency or broker.
2. Fill in the date at the top of the form.
3. Identify the parties involved in the transaction, including the buyer and seller.
4. Clearly state the property address to ensure everyone knows which transaction is being discussed.
5. Disclose the nature of the dual agency relationship, indicating that the same agent will represent both parties.
6. Include any pertinent details about commissions, responsibilities, and obligations of the agent.
7. Both parties (buyer and seller) must acknowledge the dual agency relationship by signing and dating the form.
8. Provide copies of the signed form to all parties involved.

Who needs Dual Agency Confirmation?

1. Any buyer or seller participating in a real estate transaction where the same agent represents both parties needs a Dual Agency Confirmation.
2. Real estate agents must provide this confirmation to ensure transparency and compliance with agency regulations.

People Also Ask about

Is it a good idea to have a dual agent?

There is no benefit to you other than potentially saving some money on the total commission IF it's a dual variable . They cannot represent both sides equally and impartially. That being said, that doesn't mean you can't or shouldn't do it.

Which is an example of dual agency?

Another example of dual agency is if Rob and Mary are represented by different real estate agents, but both real estate agents work for the same brokerage company. A third example is if a real estate agent is hosting an open house and meets a buyer who is interested in buying the home.

What are the pros and cons of dual agency?

While dual agency may streamline the process and offer financial incentives to the agent, the potential risks outweigh the benefits. Designated agency provides a more important and protective framework for clients, ensuring their interests are prioritized without the cloud of divided loyalty.

What is a dual agency agreement?

Dual agency occurs when a real estate agent works on behalf of both the home buyer and seller.

What is the biggest mistake a real estate agent can make?

To begin your career properly, here are six common mistakes new real estate agents make and how you can avoid them. Lack of a Solid Business Plan. Neglecting to Build a Strong Network. Poor Time Management. Inadequate Marketing Efforts. Ignoring Continuing Education. Failing to Set Unrealistic Expectations.

Is a dual agent loyal to the buyer?

In short the dual agent is serving their best interests, not the buyer or the seller. Transparency and honesty are cornerstones in any healthy real estate transaction. These qualities are the foundation that form a trusting relationship.

Should you agree to dual agency?

Dual agency can make buyers believe they're getting a better deal. But the significant risk of paying more than the perceived “deal” highlights why buyers should almost always have single agent representation.

What is a likely risk involved with dual agency?

As discussed below, a dual agent, attempting to act on behalf of both parties to a sale, risks violating the fiduciary duty to act only in the best interest of one client, because the agent may have to balance the interests of both clients.

For pdfFiller’s FAQs

What is Dual Agency Confirmation?

Dual Agency Confirmation is a document that acknowledges the situation where a real estate agent represents both the buyer and the seller in a transaction, ensuring that all parties are aware of the potential conflicts of interest.

Who is required to file Dual Agency Confirmation?

Both the buyer and the seller are typically required to acknowledge and sign the Dual Agency Confirmation to ensure transparency and consent in the dual agency relationship.

How to fill out Dual Agency Confirmation?

To fill out Dual Agency Confirmation, both parties must provide their names, signatures, dates, and any pertinent details regarding the property transaction. The agent will also need to include their information to indicate they are acting in a dual capacity.

What is the purpose of Dual Agency Confirmation?

The purpose of Dual Agency Confirmation is to inform all parties involved in a real estate transaction about the dual agency relationship and to obtain their consent, ensuring that everyone understands the implications and potential conflicts.

What information must be reported on Dual Agency Confirmation?

The information reported on Dual Agency Confirmation typically includes the names and contact information of the buyer and seller, the property details, the agent's information, the date of the agreement, and any disclosures related to the dual agency relationship.