Posted on December 7, 2020 in
Written by: David B. Honig
I would like to point out the number of times a buyer refuses to collaborate with someone, but one of them. You get the impression that the seller, since he pays the commission, works anyway for the seller. Unless we go to a “service fee” model and have the courage of real estate, that is a hard argument to beat. Subscribe to home hunting tips, hot new offers and must-read real estate. The dual agent receives a commission on both sides of the transaction, from the buyer`s and the seller`s side, but the seller pays the full commission fee. Earning a double commission is certainly an attractive item for the dual agency, but it is not always in the best interest of the buyer and seller. This is an ongoing debate that I have with myself. I cannot personally justify being a double agent. For me, it`s just an ethical mistake. There are agents who I think are very professional with dual agencies, but the majority, I think, do a disservice to everyone involved.
With respect to all laws and consumer disclosures, I find it strange that this is a practice accepted by law in some states (I am at the AP). I also find it unfortunate that so many homebuyers still think they should use the listing agent, or the listing agent will give them the best offer. I`ve let agents say how much they hate IDX because it allows other parties to promote their offers and represent buyers! One of the big risks with the dual agency is that it cannot control what is said by the double agent throughout the transaction. Some brokers can`t even take into account the damage done to their clients – they can only see double the cheques. The luck for the alternating agency can be at just about any time in the home buying or pop sales process. There are some strict conditions that apply to the broker during a dual agency transaction, such as full disclosure. However, there are still many drawbacks and pitfalls for both parties when it comes to being represented by a dual agent. Very well read. and agents who practice home builders in the agency alternating more than not represented …
and for some reason, many buyers think, by working directly with the owner, that they get a better offer and that they are protected from a dual agency… Think again! The study found “little difference between the double agent (same agent) and within the agency (same agency, but different agents) offers.” In fact, I just referred a buyer to another local agency who wanted a buyer agent to buy my offer. It was clear that they needed the services of a buyer`s agent. The dual agency is when a real estate agent works with the buyer and seller on the same transaction at the same time. Here is a common scenario about when the duale agency can occur: Jen, since you work for the seller whose seller you listed, your customer is obvious.