In North Carolina, can a broker represent both the buyer and the seller in a transaction?

In North Carolina, a broker can represent both the buyer and the seller in a transaction, provided that both parties agree and give informed consent to the arrangement. This situation is commonly referred to as dual agency. Informed consent is essential because both the buyer and seller must understand the implications of the broker representing both of their interests in the same transaction.

This dual representation can lead to potential conflicts of interest, which is why transparency and explicit agreement are necessary. The broker is responsible for clearly explaining their role and ensuring that both parties fully comprehend the dual agency relationship’s nuances. This requirement is designed to protect the interests of all involved in the transaction by ensuring that they are making informed decisions.

While some answers suggest other conditions under which a broker could represent both parties, they do not align with the requirement of informed consent that is pivotal in North Carolina real estate practices.