Let's review the basics. With designated agency, the more common transaction, one agent represents the buyer while another agent represents the seller. In the case of dual agency, one agent, a dual agent, represents both the buyer and the seller. While dual agency is legal in Illinois, full disclosure is required. All parties must agree to it in writing.

Before consenting to dual agency, consider these points:

· A dual agent acts as a buyer's agent to the buyer and as a seller’s agent to the seller. Typically, a buyer's agent would gather and convey pertinent information to the buyer regarding the seller and the property. And he or she would be obligated to negotiate the best price and terms for the buyer. Likewise, a seller’s agent would work to arrive at the most favorable deal for the seller. As the seller's advocate, the seller’s agent would not be obligated to divulge information to the buyer other than material facts about the property.


     You decide: Can a dual agent fulfill his or her obligations given the inherent conflict of interest?

·In Illinois dual agents are not allowed to suggest a price the buyer should offer or a price the seller should counter with or accept. Buyer’s and sellers must conduct negotiations on their own behalf and the dual agent in essence acts as a facilitator.

     You decide: Would you be comfortable negotiating a deal this size without advice from your real estate professional?

     Some people feel very comfortable working with a dual agent. However, if you're not one of them, you do have options: Ask the agent to choose whom he or she will represent and have another agent in the office represent the other party or hire a buyer's agent with another brokerage. Whichever you choose, you need to feel confident that your interests are well represented.