Dual Agency vs. Single Agency

There are two types of real estate agents; a listing agent and a buyer agent.  A listing agent’s job is to represent the seller and help them to achieve the highest sales price for their home.  A buyer agent’s task is to help the buyer negotiate the lowest sales price possible on the home they want to purchase. 

First time home buyers have the right to choose the type of agency they prefer.  The real estate agent aiding in the purchase is required by Maryland Law to disclose the type of agency the buyer can buy under.  This form is NOT an agreement but a legal disclosure.  You must read it to understand what rights you are upholding or waiving.  There are two different types of dual agency that a buyer can buy under.

Dual Agency with Two Agents

Dual Agency with two agents occurs when a real estate agent sells a house to a buyer that is listed by another agent employed in the same office.  If the buyer enters in to this agreement, the buyer’s agent has a fiduciary responsibility to withhold personal information from the seller and their agent unless authorized previously by the buyer.

Dual Agency with One Agent

Dual agency with one agent occurs when the buyer buys a home through the agent listing the property.  If a buyer enters in to this agreement, the agent has a fiduciary responsibility to withhold personal information from the seller unless authorized previously by the buyer.