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Pros and Cons of Dual Agency For Buyers and Sellers in Athens

In some cases, a buyer and seller may choose to use the same agent to represent both parties in a single transaction. To help you decide if this is right for you, check out these pros and cons of dual agency for buyers and sellers in Athens.

Con: Confusion

The first thing that can throw a wrench into the dual agency system is either the buyer or the seller not truly understanding what the term means.

In some states, agents may refer to dual agency to mean both the buyer and seller agents working at the same agency, whereas elsewhere it means when the buyer and seller use the same agent to facilitate the real estate deal.

Because dual agency can refer to a couple different scenarios, and it’s an atypical situation for buyers and sellers to find themselves in, this can lead to some questions and misunderstandings.

Before you embark on this type of transaction, ask any questions, and have a full understanding of what you’re entering before you sign anything.

Pro: Speed

When there’s only one agent handling all of the finalized details, it makes the transaction extremely efficient and fast.

One agent passing paperwork between the buyer and seller speeds up the entire process and leads to the possibility of a quick closing. This of course depends on if both parties can come to an agreement on pricing and contingencies.

Con: No Oversight

In a more traditional transaction setting, you and your agent will keep an eye on your best interests and work out the details that matter to you.

When you’re working with a dual agency, you do not have that agent keeping their eyes peeled for the unsavory details that could fall through the cracks from viewing a property to closing.

Having a dedicated agent representing only you means keeping their attention trained on the goal of getting you the best deal that fulfills your needs.

Pro: Full Disclosure Is Required

A buyer or seller must be forthcoming if they’re pursuing a dual agency agreement, and the other party must consent to the agreement prior to closing on the home.

This allows for you as a buyer or seller to take the time to completely understand what you’re getting into, and to contemplate if it feels like the right thing for you.

Take your time, ask any questions, and only sign once you feel completely comfortable with the situation.

Con: No One Has Your Back

One less helpful point that can be scary to buyers and sellers is that going dual agency means you do not have a dedicated agent on your side to look out for you and work in your best interests.

Not having that support available can be anxiety-inducing or intimidating to some, and can lead to a deal-breaking down due to paranoia.

Also, note that you will not have a person available to lead you through negotiations once you’re ready to discuss pricing and contingencies.

Pro: Financial Benefits

Finally, a dual agency could end up saving you a sizable portion of the money.

Traditionally, the seller is responsible for an agent’s commission through closing costs, but a buyer may offer to pay some or all of those closing costs to sweeten a deal.

An agent in a dual role may be willing to accept less commission because they are acting in a lesser capacity than usual. Always remember that agent commission is 100% negotiable, and don’t be afraid to shop around to find the right agent for you.

Help with Dual Agency in Athens

If you’re considering a dual agency agreement for your home sale or purchase, contact us today at 706-928-9959!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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