Q. Will you represent me exclusively, or will you represent both the buyer and the seller in the transactions? Dual agency?
This one is a little complicated. Less experienced agents have a hard time managing a dual agency transaction and will sometimes elect not to do it at all. The agent is attempting to act in the best interest of all parties and it can create some headache for them. Many commentators on this topic only look at one factor: "the deal". They ask the question, "How can an agent working to get the sellers the highest possible price also work to get the buyers the lowest possible price?" That is a great question, but it is the wrong question. The simple answer is that the agent sticks to the numbers with a comparative market analysis and then asks the buyer "How much would you like to pay?" then asks the seller, "Would you sell it for ____ ?"
What can cost more than the price of the home are TERMS. Often, in a dual agency transaction, both parties receive favorable terms because the agent is familiar with the situation of both parties. The transaction is usually smooth with less uncertainty saves money and headache for the buyer and seller.
An important distinction: In Arkansas, the listed property is represented by the listing broker, not just the agent. Any agent who refuses dual agency agrees not to let their buyer see any of the properties listed by their broker. This could eliminate hundreds of potential homes for you.
It is best to select an agent with experience carefully managing dual agency transactions and has the knowledge, expertise, and professionalism to appropriately handle both sides of a transaction. How is it in the best interest of my buyer to withhold a property that is a perfect fit that I have listed to avoid dual agency? I would argue that I am then NOT acting in the best interest of either party!