Both a home buyer and home seller can lose when a single agent represents both on a sale. gettyHome buyers and sellers often are harmed when a single agent represents both sides of a deal, a practice called “double dipping,” the Consumer Federation of America is warning in a new report. In double dipping, the lone agent reaps the entire usual commission of 5 to 6 percent of the sale price shared by representatives of each of the parties together. “Listing agents who work with a buyer customer are obligated to advance the interests of the seller,” CFA explains. A seller can be harmed from double dipping as well, the study cautions.

Source: Forbes May 24, 2021 16:30 UTC