Legal Hotline: Is Representing Two Buyers Interested in the Same House Dual Agency?
June 4, 2021 Legal Updates MAR Legal Hotline
If I represent two buyers interested in submitting an offer on the same property is that dual agency?
No, this is not considered dual agency.
An agent may represent multiple buyers interested in the same property so long as the agent is able to fulfill their fiduciary responsibilities to each.
The MAR Exclusive Buyer Agency Agreement speaks exactly to this possibility and affirmatively states that this situation does not constitute a conflict of interest and that the broker will maintain the confidentiality of each buyer. Given the current market conditions, brokers may want to ensure that buyers are specifically aware of this provision to avoid problematic situations.
Additionally, dependent upon the comfort level of the buyers and the broker involved, it may be appropriate to refer one buyer to another agent for that particular property.