What are the chances that your Realtor (a.k.a. "listing agent") will also represent the buyer of your home?  Or, put another way, what are the chances that the agent you hire to sell your home will be the one who actually sells it (represents the buyer)?

In 2008, there was a 1 in 4 chance that your listing agent would be the one to sell your home.  Of the 1,371 residential properties that sold in Harrisonburg and Rockingham County in 2008, there were 342 transactions (25%) where the seller was represented by the same agent as the buyer.

Statistics aside, however, this brings up the controversial issue of "dual agency" -- a practice in which the same agent represents both the buyer and seller.  Dual agency is commonly practiced (as we saw above, in 1 out of 4 transactions), but it is something that I typically try to avoid.  (Less than 5% of my transactions involve dual agency.) 

A dual agent is significantly limited in how they can represent the buyer and seller in a transaction because they are representing both parties.  It would be akin, in some ways, to one attorney representing both the plaintiff and the defendant.  There are plenty of times when this works out just fine, and an agent is able to fairly represent both the buyer and seller in a transaction, but there are plenty of opportunities for problems as well.

Generally, the only exception that I make for practicing dual agency is when I have a pre-existing buyer client who decides they want to purchase a property where I am already representing the seller.  (I'm in the midst of one of these transactions now.) 

Any thoughts here?  Is the 25% stat (of properties being sold by the listing agent) surprising high or surprisingly low?  Does dual agency seem perfectly acceptable, or remarkably absurd?