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Jake Minano, Real Estate Pro in Porter Ranch, CA

what is the advantages of being both the agent to one transaction?

Asked by Jake Minano, Porter Ranch, CA Wed Nov 20, 2013

i am talking about a fannie and freddie listings.

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7
The cons far outweigh the pros in my view. The extra commission is an obvious benefit, but it's a lot more stressful, if things don't work out everyone will be pissed off at you, and it's a major reason agents get sued.

My advice is to do what we do when we have a buyer who wants to use us - we offer a different agent at our company as well as a recommendation for an outside agent so they have free choice. You are much less likely to have problems after if you proceed that way.
1 vote Thank Flag Link Wed Nov 20, 2013
that may be true, but in my view you are asking for trouble. And in my view it should be illegal. Name any other industry where one professional represents both sides of a transaction.
Flag Wed Nov 20, 2013
sometimes i think of that way too. but i always do both,you have more control and stream line the process.
Flag Wed Nov 20, 2013
If you are the buyer don't let the listing agent represent you. While this is allowed, it is not in your best interest.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
1 vote Thank Flag Link Wed Nov 20, 2013
Jake:

Dual Agency is Dual Agency no matter what property you are selling. Assuming your Broker does not have a policy, you have to weigh the benefits vs. the disadvantage of post-transactional risk/exposure of a disgruntled Client(s).

-Steve
0 votes Thank Flag Link Wed Nov 20, 2013
@ Jake - same answer if it's not on MLS - refer to another agent either in your company or outside and take a referral fee.
0 votes Thank Flag Link Wed Nov 20, 2013
since we all agree to the benefits. how about if its a fannie and freddie listings? before the answers i would like to reetirate the non mls listed properties which is the listing agent has the only knowledge of the property to be sold.
0 votes Thank Flag Link Wed Nov 20, 2013
Fannie/Freddie usually come on the market slightly over priced. They drop the price every 30 days or so after until they get an offer. Getting a Fannie/Freddie listing before it hits the market is not really an advantage. Your an agent, take a look at a couple of listings and pull comps. You'll see what I mean.
Flag Thu Nov 21, 2013
Hi Jake,

First TUs to JR & Lance.

No need to highlight the obvious benefit to the agent in this scenario; best to focus on the inherent disadvantages to both Client and Agent:


“Dual Agency: Why should I NOT use the listing Agent to buy a house?”
http://tinyurl.com/ajkjpuo

-Steve
0 votes Thank Flag Link Wed Nov 20, 2013
Obviously , getting commissions from both sides of the transaction is a perk. The other advantage is having more control--Finding out if there are appraisal requirements & taking care of them in time to close. Also, not having to wait to hear from the other agent before you do take important steps towards closing.
0 votes Thank Flag Link Wed Nov 20, 2013
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