Recently someone posted a question on Trulia as to whether or not it makes sense to represent yourself in a real estate purchase in Corvallis. They also wanted to understand ‘dual agency’, which occurs when a real estate agent represents both the buyer and the seller. Here’s my response:

No, you don’t need to be represented and you don’t only have to look at fsbo (for sale by owner) properties, though sellers are advised to contact their agent if an inquiry comes in. Realtors, perhaps especially in small towns like ours, recommend a buyer have an agent for multiple reasons. For one, we have access to information about similar sales or even previous sales of the property you are interested in that is not in the public record. Local knowledge can go a long way toward getting you the best price when negotiating a purchase.

As for ‘dual agency’, Oregon law states a broker can represent both a buyer and a seller in the same transaction, but only with the written permission of both parties. Personally I handle this on a case by case basis. If I’m asked to do so and feel I can objectively represent both parties I will. But if I’m uncomfortable with the buyer’s position, say they want to make a ridiculously low offer that isn’t in the best interest of the seller, then I would be doing that buyer and the seller a dis-service by representing both sides.