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Our agent showed us a house she has listed. We LOVE it. Any conflict with her selling a house she has listed??? How does that work?
THANKS!!
I am not a fan of dual agency - which is when an agent represents both the buyer & the seller.
I feel as if my hands are tied and I can't give full service to either client.
I can tell you that I certainly show my own listings - but when clients are interested enough to purchase, I refer them to another agent in my office. It's always worked well for me.
I am not a fan of dual agency - which is when an agent represents both the buyer & the seller.
I feel as if my hands are tied and I can't give full service to either client.
I can tell you that I certainly show my own listings - but when clients are interested enough to purchase, I refer them to another agent in my office. It's always worked well for me.
Everything Chuckity said.
Here is why: the the seller's agent tries to get the highest price for the seller. The buyer's agent tries to get the lowest price for the buyer. How does one person do that?
I have done it twice - and both times it felt weird. In both cases I told each party they were on their own in negotiation - I would just convey the offers and counters. In each case, it was the buyer who later felt "cheated". Why, I don't know.They never said anything - I just felt the vibe. I will NEVER do it again. I always get another agent to represent the buyer now, and the new buyer's agent often pays me a referral fee. I can tell you from experience, that a decent agent does not let that stop them from taking care of the client and negotiating hard. I expect it of a decent agent.
If the agent is professional and you trust him it should not be a problem. They should be able to treat all parties fairly, honestly with integrity. We strive to do that everyday so a good agent should not have a problem.
It is rare in a big city with so many agents but I do it 2-4 times a year and never have a problem or feel there is a conflict.
If the agent is professional and you trust him it should not be a problem. They should be able to treat all parties fairly, honestly with integrity. We strive to do that everyday so a good agent should not have a problem.
It is rare in a big city with so many agents but I do it 2-4 times a year and never have a problem or feel there is a conflict.
Not to try and cause trouble, but two other agents have responded with:
"I feel as if my hands are tied and I can't give full service to either client"
"In both cases I told each party they were on their own in negotiation"
Are you saying those agents aren't professional or aren't good?
I agree with Rakin. I'm currently in the situation right now, and no one feels cheated and both parties keep thanking me and thanking me. It's a win/win.
If you know the correct way to handle the situation, it's a very easy situation to be in. If you don't take overpriced listings, and you give the buyer the exact same information you gave the sellers as to what the pricing should be, negotiations are easy because each knows the same information. The buyers know the sellers are priced right, and the sellers know the buyers have the same information they were given.
Where are my hands tied in a deal like that? I love representing both buyers and sellers and it knocks out a middle man and extra phone calls/emails.
I am in a designated agency state. It's been a long time since I had a dual agency deal.
I got a call from a buyer on a listing in my office. I went out to show the buyer explained dual agency - I was not the listing broker. I showed them a second time and provided comps. The buyer had told me they were close to making an offer.
After careful consideration, they decided to contract with another broker. The other broker wrote the offer, the seller rejected the offer. They hired a third broker to write an offer. The seller accepted the 2nd offer, the buyer terminated the contract after the inspection.
They called me to show them other houses and after signing a buyer agency agreement told me what happened with the first house. I told them that was easily fixed if they did this and that. The other broker did not talk to them about the inspection issue. No advice was given by the broker.
The buyer thought it over and made a third offer for the first house with a concession for the inspection issue. We closed three weeks later.
Are you saying those agents aren't professional or aren't good?
Not sure where you even conceive of something like this.
Not all agents are comfortable doing this, I cautiously am. There's not a regular agent that posts on this forum that I don't have the highest respect for and believe all handle themselves in their own professional manner.
As you can tell by the resposes, some do it and some prefer not to.
I agree with Rakin. I'm currently in the situation right now, and no one feels cheated and both parties keep thanking me and thanking me. It's a win/win.
If you know the correct way to handle the situation, it's a very easy situation to be in. If you don't take overpriced listings, and you give the buyer the exact same information you gave the sellers as to what the pricing should be, negotiations are easy because each knows the same information. The buyers know the sellers are priced right, and the sellers know the buyers have the same information they were given.
Where are my hands tied in a deal like that? I love representing both buyers and sellers and it knocks out a middle man and extra phone calls/emails.
Truthfully?
Because I cannot be an advocate for my seller's best interest AND be an advocate for my buyer's best interest as well.
I feel a client deserves to have someone completely and entirely in their corner. Simple as that.
It's a win/win for me too - I sell my listing AND work with a seller's agent who knows what they're doing ... because I picked them myself.
We just bought a house from our Agent and she was also the listing Agent. Everything went excellent and we are very happy with how it all turned out, so I think it can work. She offered to have another Agent from her office assist us if we were not comfortable, but we were ok with her and trusted her integrity.
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