dual agency

Definition

When one agent represents both buyer and seller in the same transaction, creating a conflict of interest wrapped in a commission opportunity. It's like having the same lawyer represent both parties in a divorce.

Example Usage

Our agent suggested dual agency to 'simplify things,' which definitely simplified his path to a double commission.

Origin

Real estate practice that became controversial in the 1990s

Fun Fact

Dual agency is actually illegal in several states including Alaska, Colorado, and Florida, because even lawmakers recognized the obvious problem.

Source: Real estate agency and ethics terminology

Related Terms

Beginner

turnkey property

A property allegedly so perfect you could move in immediately with nothing but your keys and belongings. Spoiler: there's always something.

🏠 Real Estate

Intermediate

land contract

A seller-financed agreement where the buyer makes payments directly to the seller but doesn't receive the deed until paid in full. It's layaway for houses, with all the same risks.

🏠 Real Estate

Advanced

title cloud

Any irregularity or claim that casts doubt on a property's ownership rights. It's like a storm cloud over your closing, except instead of rain, it's liens and legal disputes.

🏠 Real Estate

Intermediate

builder spec

A property built on speculation without a specific buyer in mind, using builder-grade everything in beige or gray. The housing equivalent of business casual—safe, boring, and designed to offend absolutely nobody.

🏠 Real Estate

Beginner

coming soon

A property marketing status indicating a listing will be active shortly, used to generate buzz and pre-market the property before it officially hits the MLS. It's the real estate equivalent of a movie trailer, complete with the same level of hype.

🏠 Real Estate

Advanced

1031 exchange

A tax-deferral strategy allowing investors to sell a property and reinvest the proceeds into another 'like-kind' property without immediately paying capital gains taxes. It's the IRS-approved version of kicking the can down the road.

🏠 Real Estate

Translate This Term

See “dual agency” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

Try the Translator

Share This Term

Post on X Share on Facebook Share on LinkedIn

Discover a Term

Beginner

gdmfpos

god damn mother f**king piece of s**t...