Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Dual agency means a situation where the buyer and seller of property are both represented by the same agent. Usually there is an agent for the buyer and one for the seller, both of whom represent their interests separately for transactions. However, sometimes there is only a single agent, leading to a quicker transaction and simplifying the entire procedure as well. However, there are strong risks pertaining to the arrangement. The agent may have preference for any one party over another. Dual agency is not legal in several regions across the world as well.
Dual agency is used in a real estate context, whenever there is one agent representing both the buyer and seller. Now, this relationship has to be scrutinized carefully. There should not be any situation where the buyer is favored over the seller by the agent or vice versa. Sometimes, it happens inadvertently, when the buyer and seller unknowingly choose the same brokerage firm or agency. It may also take place when the listing agent is directly contacted by the buyer without any official representation by his/her own agent. The dual agent should have legal and informed consent from both parties for enabling the transaction as a rule of thumb. If any party is not comfortable with a single agent for the transaction, then they should not go ahead with the property deal by all means.
