Dual agency (where the same real estate broker represents both buyer and seller) can be hard to understand and often brings up commission questions such as the one below when you are a seller working with a listing agent to sell your property.
If you act as both the selling and buying agent, I assume you have decreased costs of doing business since you don't have to coordinate and negotiate with another agent plus you earn commission from both parties. Is it possible for us to negotiate a different brokerage fee for this particular circumstance?
If I end up acting as dual agent, you are right that I don’t have to coordinate with another agent. But instead of just coordinating with their buyer’s agent I must do all the coordinating and arranging for their financing, inspection, appraisal, closing, etc... involving much more work than simply coordinating with another agent.
In most instances it involves showing numerous other properties, etc and guiding the buyers through the whole process just as with any buyer… it’s just that the buyer decides to purchase your property rather than another one.
In most cases it is no different from having two separate agents, I just happen to be one agent doing the work of two and earn the full commission.
Sharlene Hensrud, RE/MAX Results REALTOR - Email - Minneapolis Listing Agent
