I am often asked if a buyer agent on a real estate team can represent a buyer in purchasing one of the team’s own listings. The answer is yes, but only as a disclosed dual agent.
South Carolina Code §40-57-360(B) says, “The team may act as disclosed dual agents only and with the prior informed and written consent of all parties and as addressed in the broker-in-charge’s written office policy.”
The statute essentially says the only way a buyer agent on a team and a seller agent on the same team can be in the same transaction is through disclosed dual agency. The statute prohibits designated agency in this situation. The statute looks at the team as a single unit, so different members cannot represent different parties in the same transaction other than through dual agency. Remember, a party cannot consent to dual agency until the identity of the opposing party is known.
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