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Dual Representation

Dual Representation describes the situation where one brokerage company represents both the owner and tenant / buyer in a transaction. In most markets this is a common situation because there are a small number of highly qualified brokerage companies, most properties have listing agents (often Exclusive Listings) and most tenants have Tenant Representation.

A brokerage company that has Dual Representation in a transaction must be careful to avoid conflicts of interest by transparently declaring to all parties whom it is representing and assigning qualified, independent consultants to each side of the transaction to properly represent both clients interests. A useful tool for avoiding misunderstandings is to include in the Letter of Intent a paragraph where both landlord and tenant declare what consultants (if any) are representing their interests in the transaction and the obligations that exist to pay fees to them.

Term in Russian