Single agent dual agency is legal in the State of Louisiana but just because something is legal does not make it right…dual agency is controversial with some Brokers/Agents telling you there is nothing wrong with it and all you have to do is disclose everything to both sides. In my view it is not that simple. Single agent dual agency is when one agent is representing both the buyer and the seller in a single transaction.
jay Thompson who was a Broker in Arizona and is a wonderful writer wrote a piece on Dual Agency in 2009 that recently came up in a discussion on Dual Agency on Social Media. The piece expresses my views and I totally agree with it…you can read it here, On Dual Agency.
In order for a Broker/Agent to be a Dual Agent there must be written permission given by both a buyer and a seller. The Agency Disclosure Form in Louisiana has the following statement which means that your agent may not provide any advise to you. If issues arise after the Home Inspection both the buyer and the seller need to determine on their own what to do about those issues.
Any agreement between the clients as to a final contract price and other terms is a result of negotiations between the clients acting in their own best interests and on their own behalf. The undersigned buyer (or lessee) and seller (or lessor) acknowledge that the licensee(s) has explained the implications of dual representation, including the risks involved.
Why agree to not have your agent’s advise during your transaction?