Definition of "Dual listing"

Danny  Skelly  real estate agent

Written by

Danny Skelly elite badge icon

Orson Hill Realty

When you sign a Listing Agreement with a real estate broker or agent, he or she has a fiduciary responsibility to represent your interests exclusively. However, should another client of the real estate broker or agent want to make an offer on your house, the agent/broker would then find himself in a Dual Listing.

But how can he do his/her job of representing my interests exclusively if the home buyer is also his/her client? you ask.

Well, he can’t. Only if you (and the home buyer) agree so. A dual listing occurring without the knowledge of both the home seller and the home buyer violates the principal fiduciary relationship and therefore is illegal. So, whenever an agent/broker notices this conflict of interests happening, the first thing he/she needs to do is warn both clients. If both of them aren’t bothered by that… then game on!

Real Estate Secrets:

Dual Listing is yet another Listing Agreement ramification. Check out others like Net Listings, Open Listings, Option Listing and much more in our Glossary terms.

If that feels too advanced for you, go back to basics and try our Listings 101: What you need to know when you hire a Real Estate Agent or a Broker blog post.

Want no such thing? We’ll give you the TL;DR version: find a real estate agent and let him/her do all the heavy lifting.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Annual Percentage Rate (APR) is a measure of the cost of credit that must be reported by lenders under the Truth in Lending regulations. The Annual Percentage Rate (APR) takes into ...

Window designed in an alcove extending outside the structure. A bay window makes the home look more attractive and adds light, as well as providing a better view. ...

Document evidencing the passage of title to a purchaser of property sold for taxes. The tax deed is issued upon foreclosure of the property lien. Typically, there is a grace time period ...

Impeding and restricting people in various activities based on their race, ethnic reasons, or religion now goes against US laws in effect. In the past, especially in the 1960s, ...

Increased satisfaction a buyer obtains from the purchasing an additional unit of a good, service, or property. ...

Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...

To clip or prune shrubbery,etc. ...

Penalty charge in order to cure a previous wrong. ...

The definition of in rem in real estate is a legal case against a property rather than a person. The legal application of in rem in real estate is most often seen when a homeowner defaults ...

Popular Real Estate Questions