Defendant Represented By The Prosecutor
As of 2022, Dual Agency is illegal in eight states. These states are Alaska, Colorado, Florida, Kansas, Maryland, Texas, Vermont, and Wyoming. While there are some scenarios where a Dual Agency is unavoidable and/or is even advantageous, our team of Scottsdale real estate agents helps buyers of new real estate avoid it. Dual Agency is a legal relationship formed when both the buyer and seller in a transaction are represented by the same REALTOR and/or broker. What are some of the ways Dual Agency can potentially occur?
- When an unrepresented home buyer walks into an Open House
- If a home/condo buyer purchases directly from a new development
- When a Listing Agent finds finds his/her own buyer for the property
The Risks Are Numerous
While walking straight into a new condo development such as Icon, Portico, Ascent At The Phoenician, FENDI Private Residences, may seem advantageous, it’s typically not. The sales team represents the DEVELOPER. In real estate, even though Fiduciary Duty is meant to be even, a listing agents primary duty remains to the seller. This is just ONE of the reasons why Dual Agency is illegal in EIGHT states. Think about it, if you were a defendant in a court room, would you want your accuser’s attorney representing you?! Probably not. And since buying a luxury condo in Scottsdale will cost you anywhere between $1 and $30 million dollars? Having Williams Luxury Homes represent you may be something to consider.