The most important decision you make in selling or buying a home is choosing a real estate agent and company. You deserve someone with the experience and abilities to properly represent you. However, your choice can dramatically affect how you can be represented! When agents from the same company represent both buyer and seller in a transaction, this creates Dual Agency.
With Dual Agency, this real estate company and those agents are prohibited BY LAW from advocating on either client’s behalf over the other! This severely limits the level of representation they can provide!
As a seller, you hire your agent and their company to exclusively represent your best interests. However, if any other agent from the same company represents a buyer who wants to purchase your home, Minnesota state law prohibits your agent from advocating for you to the detriment of the buyer. You’ve lost your exclusive representation.
As a buyer, you also hire an agent and their company to exclusively represent your best interests. However, you lose that exclusivity every time you have an interest in a home listed by that company! To keep your exclusive representation, you couldn’t purchase any of your company’s listings.
In the Twin Cities seven-county area in 2018, the same real estate company represented both buyer and seller in over 7,500 transactions. Over 15,000 clients willingly or unknowingly gave up their exclusive representation! At Nelson Family Realty, we believe you deserve better.