In Tennessee, the law allows for agents to represent both buyers and sellers of the same property. But if you’re buying a home in the greater Nashville area, you deserve to employ a buyer’s agent who has no fiduciary interest in the sellers.
A dual agent cannot, by the nature of their contract with the seller, effectively negotiate the lowest possible price for you, and so you may end up paying more than you should, and making concessions to the seller that you don’t want to make. Although use of a dual agent must be agreed to by all parties in writing for it to be legal, and although the agent is legally obligated to be fair to all parties, invariably the dual agent will favor the seller.
If you’re looking at homes in Nashville without the assistance of a buyer’s agent, you may find yourself involved with a dual agent whether you mean to do so or not. An agent can enter into a relationship with the buyer by one of two means.
Expressed agency, in which the agent expresses intent to represent the buyer in writing through a buyer representation agreement or any other written means; or orally, in which the agent verbally expresses their intent to represent the buyer.
Implied agency, also referred to as “accidental agency,” in which the agent assumes the role of an agent, and the buyer responds as a consumer, relying on the advice and actions of the agent.
It is through implied agency that many buyers find themselves involved with a dual agent. It’s very important when considering the purchase of Nashville Real Estate to ensure that the agents you work with are up front about their business and listing affiliations, and that you are at all times adequately represented. Working with a buyer’s agent costs you nothing, and will certainly benefit you in the long run.
Cindy Jasper and the HummerHomes Team will never act as dual agents in any transaction. Whether you’re buying a condominium or town home, single-family home, or multi-million dollar estate home in the greater Nashville area, we will provide you with the highest quality of service possible, and the knowledge to make the best possible decisions about your real estate purchase. We’re committed to making your home purchase a rewarding and stress-free experience. So please, sit back, relax, and let us be your real estate concierge! We specialize in Franklin Real Estate, Belle Meade Real Estate, Cool Springs Real Estate, Brentwood Real Estate, Green Hills Real Estate, and of course Fieldstone Farms!