Fiduciary is more than a fancy word
Fiduciary duty is more than just a fancy word for loyalty and care. A real estate agent owes the following fiduciary duties to a client:
But according to Wikipedia, "A fiduciary's duty must not conflict with another fiduciary duty. Conflicts between one fiduciary duty and another fiduciary duty arise most often when a lawyer or an agent, such as a real estate agent, represent more than one client and the interests of those clients conflict."
The South Carolina agency brochure states, "In a disclosed dual agency, the Company's representation duties are limited because a buyer and seller have recognized conflicts of interest (emphasis added). Both clients' interests are represented by the Company."
A real estate agent who practices dual agency may be putting their interests ahead of their clients. They may be seeking to increase their profit in the transaction by "earning" both sides of the real estate commission at the expense of their clients.
While disclosed dual agency is technically lawful, a real estate agent must explain to both parties that they are also acting as a fiduciary for the other party and owes each party the full range of fiduciary duties except loyalty and full disclosure (emphasis added).
How does the real estate consumer benefit from having a real estate agent who can neither be loyal nor provide full disclosure? And let's not even discuss the self represented buyer who gets nothing and may or may not even know it.