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Asked by Brent Bester, Columbus, OH Mon May 19, 2008

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Answers

5
Alan May, Agent, Evanston, IL
Mon May 19, 2008
BEST ANSWER
Dual-agency (or transactional agency... whatever your state calls it) in my opinion, is a clear conflict-of-interest.

The seller, who hired the agent, in part for his/her expertise in negotiation is deprived of that skill, since the agent can no longer advise one client over the other.

The buyer, who hire an agent, in part for his/her expertise in negotiation and experience in inspections and what to ask for in the way of repairs and credits is deprived of that knowledge because the agent can no longer advise one client over the other.

In a dual agency situation, the only one the agent is truly service is him/herself.

The listing agent would be better off having the buyer sign a waiver of "no agency"... so that you can continue to advise and counsel your seller.
1 vote
;, , Riverhead, NY
Mon May 19, 2008
Unfortunately, in my area, many Realtors wouldn't take issue with dual-agency. Conflict of interest? NO QUESTION- hence, the elimination of this practice in most areas. Those that choose to engage in dual agency need to be prepared to justify, for consumer, the practice- otherwise, DON'T engage. If speaking out of two sides of your mouth comes naturally- YIKES.
Web Reference:  http://optionsrealty.com
1 vote
Jeffrey Schn…, Agent, Austin, TX
Mon May 19, 2008
Brent,

Would you go to court without an attorney? Obviously, some i____s do but it's never a good idea. Shouldn't happen, shouldn't be allowed to happen, but the powers at be want to keep the money in the family, so it does happen. Bad idea.

Jeffrey
0 votes
Brent Bester, , Columbus, OH
Mon May 19, 2008
Sorry, I'm not a realtor and neither an expert on reality terminology! I am merely a little finance guy! lol. What I specifically mean is the buyer called off the listing or sign to make an offer on the house and I suspect he had someone from the company write an offer on his behalf, when they were also selling the property. Thus he had no buyers representaion negotiating for him on his behalf, or I would this since he is only working with one real estate company? I have heard this reffered as dual-agency. But then again Im no expert on selling or buying homes. Essentially, the one and soley broker selling the property recieved a commission of 6% and an upwards of 30k+ ......I hope this helps
0 votes
Frank Diaz, Agent, Honolulu, HI
Mon May 19, 2008
I would have a heart to heart with your broker. I have done them and they are difficult.
I know at least one agent that will not accept them at all. That's a tough one.
Not sure what you mean by dual agency though. You did financing for the buyer and what else?
0 votes
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