What is dual agency in Delaware real estate?

Dual agency in Delaware real estate refers to the situation where a single agent represents both the buyer and the seller in a transaction. This arrangement can often lead to potential conflicts of interest because the agent must navigate the interests of both parties simultaneously. In Delaware, dual agency is permissible but is subject to specific regulations that ensure that both parties are fully informed and have agreed to the dual agency arrangement. It is crucial for the agent to maintain a level of neutrality and transparency, ensuring that both the buyer and the seller are treated fairly.

This distinction is important because it highlights the unique dynamics that can arise in real estate transactions, where one agent is responsible for facilitating the sale while balancing the needs and objectives of both clients. Proper disclosure and consent are fundamental to maintaining ethical standards in such situations.