Dual Agency and Real Estate

JIM SPANGLER CRS GRI

BROKER - OWNER

1-937-305-8863

DUAL AGENCY

Ohio law permits a real estate agent and brokerage to represent both the seller and buyer in a real estate transaction as long as this is

disclosed to both parties and they both agree. This is known as dual agency. As a dual agent, a real estate agent and brokerage

represent two clients whose interests are, or at times could be, different or adverse. For this reason, the dual agent(s) may not be able

to advocate on behalf of the client to the same extent the agent may have if the agent represented only one client.

As a dual agent, the agent(s) and brokerage shall:

• Treat both clients honestly;

• Disclose latent (not readily observable) material defects to the purchaser, if known by the agent(s) or brokerage;

• Provide information regarding lenders, inspectors and other professionals, if requested;

• Provide market information available from a property listing service or public records, if requested;

• Prepare and present all offers and counteroffers at the direction of the parties;

• Assist both parties in completing the steps necessary to fulfill the terms of any contract, if requested.

As a dual agent, the agent(s) and brokerage shall not:

• Disclose information that is confidential, or that would have an adverse effect on one party’s position in the transaction,

unless such disclosure is authorized by the client or required by law;

• Advocate or negotiate on behalf of either the buyer or seller;

• Suggest or recommend specific terms, including price, or disclose the terms or price a buyer is willing to offer or that a seller

is willing to accept;

• Engage in conduct that is contrary to the instructions of either party and may not act in a biased manner on behalf of one

party.

Compensation: Unless agreed otherwise, the brokerage will be compensated per the agency agreement.

Management Level Licensees: Generally the broker and managers in a brokerage also represent the interests of any buyer or seller

represented by an agent affiliated with that brokerage. Therefore, if both buyer and seller are represented by agents in the same

brokerage, the broker and manager are dual agents. There are two exceptions to this. The first is where the broker or manager is

personally representing one of the parties. The second is where the broker or manager is selling or buying his own real estate. These

exceptions only apply if there is another broker or manager to supervise the other agent involved in the transaction.

Responsibilities of the Parties: The duties of the agent and brokerage in a real estate transaction do not relieve the buyer and seller

from the responsibility to protect their own interests. The buyer and seller are advised to carefully read all agreements to assure that

they adequately express their understanding of the transaction. The agent and brokerage are qualified to advise on real estate matters.

IF LEGAL OR TAX ADVICE IS DESIRED, YOU SHOULD CONSULT THE APPROPRIATE PROFESSIONAL.

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