What is Dual Agency?    In Oregon, dual agency means that a real property transaction in which the representation of a buyer and seller,logo_realtorcolor or the representation of two or more buyers, occurs within the same real estate brokerage.   One example is I can represent both a buyer and seller in a transaction, although Re/Max Equity Group, inc. discourages us from doing so.

 

Is Dual Agency Legal?

Yes.  The latest information I have is that 33 states allow dual agency while only eight have said they will not. Licensing requirements vary by state with requirements ranging from registration to classes and tests. Dual Agency states are indicated below with a star *.

Dual Agency States

Alabama Idaho* Minnesota* Oklahoma Texas
California* Illinois* Mississippi* Oregon* Vermont*
Colorado Iowa* Missouri Pennsylvania* Washington, DC*
  Kansas* Montana South Carolina West Virginia
Florida Kentucky* New Mexico South Dakota Wisconsin*
Georgia Michigan North Dakota Tennessee* Wyoming

As you can see, Realtors® in Oregon are permitted to involve themselves as dual agents representing both buyers and sellers, as permitted by our Oregon State Real Estate Agency.  There is an agency disclosure we provide to both buyers and sellers in a transaction disclosing this fact.  Here is the link to our agency disclosures.

Typically, however, a Realtor® will only be representing one side or the other – either a buyer, or a seller.

Creative Commons LicenseALL ABOUT…..Portland.Oregon.Real Estate, is licensed under a Creative Commons Attribution-Noncommercial-No askfirst1Derivative Works 3.0 Unported License. © Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.  Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).