Real Estate Vocabulary

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Dual Agency – Representing two clients in the same transaction

In the State of New Jersey, a real estate agent must have written permission from both parties, the buyer and seller, in order to represent both in the same transaction as a disclosed dual agent (DDA).  Though this sounds like a conflict to some on the surface, it is usually very simple to treat all parties honestly, equally and with proper respect in order to bring about a happy settlement.

An example of when this can be a challenge for an agent is when one of the clients begins a sentence with, “Don’t tell the other party, but…”

In this case, it is proper for the agent to remind the client off their DDA relationship with all parties.

At Help-U-Sell Harbinger Realty, we have represented both buyer and seller an amazing 73.3% of our transactions- more than any other Mercer or Burlington County broker.  Our approach is to be upfront and direct, while keeping no secrets.

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One Response to Real Estate Vocabulary

  1. Sylvia Stout says:

    As a potential home buyer, I really like your new blog. Thanks!

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