You'll never see a lawsuit with the SAME attorney representing BOTH sides of the case; it simply isn't done. You want your attorney to represent YOU, and not the other guy, too! How can you believe that one attorney can possibly be fighting for you, when he represents the other side as well?
You wouldn't put up with that, would you?
But in Arizona, in regard to real estate transactions, the law allows ONE agent (one Broker) to represent BOTH sides of the transaction. It's called Limited Representation, or better known as DUAL AGENCY.
It's perfectly legal, but doesn't it make you wonder if you are really being represented fairly, aggressively, and do you feel you have your broker working for YOUR best interests? How can that be, if he is representing both sides of the transaction? It's legal here, but...
If one reads the law, there's a catch: a real estate licensee (agent or broker) CAN be a DUAL AGENT- representing both sides, however, that agent can NOT advise one party to the detriment of the other. It is a very fine line to walk. If you want your agent's advice as to what price to pay, what terms to offer, and you want to know whatever you can find out about the Seller, his house, and his situation- your Dual Agent will NOT be legally able to advise you, because pretty much anything he may say to help YOU, would NOT help the Seller. That's why Dual Agency is more correctly referred to as Limited Representation.
Your Dual Agent can fill out the paperwork with whatever YOU tell him to fill out, but he really can't advise you without compromising the other party- who he has also pledged to help. Does that make sense? Remember the attorneys above?
If an agent from one company lists a home for sale, and another agent from the SAME company represents you, the Buyer- then the law says that they are DUAL AGENTS.
It doesn't matter if they tell you that they only represent you- the law says they AUTOMATICALLY represent BOTH parties, and MUST relegate themselves to pretty much just a facilitator or a "messenger boy", because they can no longer legally give you their 100% effort to "fight for you".
But wait! There's more: the law also says that they can NOT be a Dual Agent without your PRIOR WRITTEN CONSENT. Interesting, yes?
So, if you would like to hire a Buyer's Broker- one who will represent you EXCLUSIVELY, advise you, and aggressively fight for YOU- then give me a call at WILDCAT COUNTRY REAL ESTATE.
You may find it a refreshing way to buy a home!
Michael J. Mulvena