Beware of "Dual Agency"

The Ultimate Conflict of Interest
Many agents call themselves Buyer's Agents and will offer to represent you as a buyer's agent even though they list property and represent sellers. Because their expertise is usually oriented toward selling, not buying, their advice may be questionable at best. Then, if you wish to look at even one property listed by any agent in their company, they immediately become "dual agents" - trying to represent both you and the seller at the same time. The only one who benefits from that situation is the agent.

In Dual Agency, the agent and the agent's company can legally represent both the buyer and the seller in a real estate transaction, only with the buyer's and seller's knowledge and consent. Dual agency is favored by most real estate companies because they make more money when they collect both sides of the commission in a sale. If you buy through such a company, they will try to convince you that dual agency is in your best interest and that they can and will represent you fairly. Don't believe it!

While Dual Agency is not prohibited by law, it is regulated by NC Real Estate Commission rules. Dual Agents are not permitted to give you advice based on information they might have about their other clients - the sellers. If they are honest and respect this restriction, their value to you is drastically diminished. If, however, they are giving you confidential information about the seller, you can be sure they are also giving the seller confidential information about you. Either way, you lose. Using a Dual Agent when buying a home is not illegal - it's just stupid.

Exclusive Buyer's Agents
An Exclusive Buyer's Agent, by definition, works for a company that does not take listings. An EBA will not only help you find a home or land, but will also represent you much like an attorney represents a client. In a real estate transaction, an Exclusive Buyer's Agent legally and ethically owes all his loyalty to his buyer client - not to the seller. Only an Exclusive Buyer's Agent can and will tell you all he knows about both a property and the seller and can guarantee that confidential information about you will be kept confidential.

A true Exclusive Buyer's Agency, Dana Realty does not take listings and never represents sellers. As Buyer's Agents for over 15 years, our expertise is in buying property and our only objective is to help you find the best property at the best price. We realize our buyers are real people with real needs who deserve respect and knowledgeable representation when buying a home.

While other real estate companies will try to sell you a home, at DANA REALTY as your Exclusive Buyer's Agent, we would appreciate the opportunity to help you BUY one - there really is a BIG difference.

Just as it would be foolish to ask an opponent's attorney for legal advice, it is equally foolish to ask the seller's agent for real estate advice. You should have an Exclusive Buyer's Agent to advise you in all aspects of your purchase.