GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Dual Agent


Synonyms:broker, dual representative, real estate agent, work both sides
Filed Under: real-estate
Tags: agent, realty
 

Definition of dual agent

dual agent
1. A real estate agent who represents both the buying and the selling parties in a property sale. A dual agent must treat both parties equally, cannot reveal confidential information, and cannot give confidential advice.

Related Terms and Acronyms:

  • 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 agency   When a real-estate agent or broker represents both parties in a transaction.
  • realtor   A real estate broker or an associate holding active membership in a real estate board.
  • subagent   A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.

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