How is a dual agent defined in Pennsylvania real estate?

In Pennsylvania real estate, a dual agent is defined specifically as an agent who represents both the buyer and the seller in the same transaction. This arrangement can occur when a single agent or real estate brokerage is involved in representing both parties, effectively managing their interests in the negotiation and sale of a property.

The concept of dual agency is crucial because it raises the necessity for clear communication and consent from both parties to ensure that all relevant information is disclosed and that each party’s interests are protected despite the agent representing both sides. This arrangement is governed by specific regulations to prevent conflicts of interest and to uphold the ethical standards of real estate practice.

Understanding dual agency is essential for both real estate professionals and consumers, as it directly impacts the dynamics of the transaction and the obligations of the agent involved.