I liked the answer from Ian at first...., until he gave out his contact information and offered to recommend a good Realtor he knows in that area. Aaaaaaaaaaak!
People. (Agents...) We need to disclose that if we recommend another Agent in another area..., it is common practice to get a split of the fee when a property sells...for that referral. Also, check the Trulia Guidelines about advertising in this forum.
Elvis in the end has my vote. My office alone has 150 agents working out of just that one location, plus we own 2 other offices in nearby towns. If an Agent is in our office with a listing.... condo/loft or home etc, they are allowed contract with any other Agent to "sit" their open house or even do a Brokers Open for them. Even if that Agent is in their office or totally with another Agency. That Agent may not even know the owners, nor have they any obligation of a Listing Agent. That is because we are all Independent Licensed Agents. There are only a few Brokers that actually hire their agents as employees. Independent Licensed agents normally work totally on commission, no basic or minimum wage at all.
Disclose, disclose, disclose.... that is the motto. - Many listing agents just will NOT represent the buyer and seller at the same time due in fact to what is commonly known as implied representation, meaning that no matter what everyone agreed to....each party has the right to fair and impartial representation. Its just a law suit waiting to happen. Some agents will write up an offer and then on the offer "disclose" that they are a neutral 3rd party and do not represent either buyer nor seller, they act as a mediator or "facilitator" to the agreement. Be aware folks...., this can be seen differently by the courts. Consumers have a lot of rights, as they should, and we are held to a higher level of responsibility!
Yes.., in the end a company can represent both at once. It is legal in most states, if its disclosed properly. I have done it more than once, when I felt the situation warranted it. It was my risk to take. Normally I do not do this... as in my own home that is up for sale at $879k, â€¦however I negotiated with another agent to list my own home to avoid any possible complications or later issues.
Don / Associate Broker
Determine if you feel comfortable with the agent. If so, fine. If not, look for someone else, either in the same firm or elsewhere.
First of all the question is imposed as "All Locations" therefore you do not even know where she is buying the property.
Second I did say that dual agency requires disclosures and signed agreements, I do not understand your point? since you are saying the same thing as I did.
Third I did also say that dual agency definitely always creates conflicts for everyone involved, so what is your point by pharaphrasing my answer and just translating what I just said? Perhaps you do need to read and understand what is being said before commenting.
Sellerâ€™s agent represents the property and therefore sellers best interest and owes the seller fiduciary duties and responsibilities.
Buyers agent represents the buyer obviously with all the fiduciary duties and responsibilities.
The dual agent is basically just a paper pusher and has to represent both parties equally. That definitely always creates conflicts for everyone involved since the agent can not disclose as much yet keep everyoneâ€™s best interest in mind.
The company might find themselves in that situation of dual representation but it should not influence your agreement with the realtor.
If you are buying than obviously the buyerâ€™s agent will help you the most.
Compensation is usually set and paid by the sellerâ€™s agent, or built in into the offer.
Just want to answer the second part of your question . . . . I often host open houses for agents in my office and have never met the seller. Likewise, when I have several listings at the same time, I can't possibly host them all on the same Sunday. So, I'll ask another agent in my office to host.