GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Dual Agency


Synonyms:brokerage, company, dual representation, firm, work both sides
Filed Under: real-estate
Tags: realty
 

Definition of dual agency

dual agency
1. The condition of a real-estate agent or broker representing both parties in a transaction.

Related Terms and Acronyms:

  • agency (agcy)   A relationship between two parties -- a client and an agent -- in which the agent represents the client in transactions with a third party.
  • agent (agt)   A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
  • broker (Bkr)   A person or firm who acts on behalf of another.
  • dual agent   A real estate agent who acts for both parties in a property sale.
  • real estate agent   A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
  • realtor   A real estate broker or an associate holding active membership in a real estate board.

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