2007-06-21 04:57:10 · 6 answers · asked by bernie0805 5 in Business & Finance ➔ Renting & Real Estate
Yes, it is possible. In my state, such an arrangement is called 'dual agency'. It is difficult for a realtor to handle properly, since the laws state that the realtor must honestly and fairly handle both clients, with no advantage relative to information for one client over the other.
When this happens on one of my listings, I generally invoke the services of another realtor in my firm, pay them a referral fee to handle the transaction on the buyer's behalf, and then each of us handles one client. Simply makes it easier for any potential conflict of interest issues.
2007-06-21 05:02:34 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
This is a hot subject. Many people feel that a listing agent can not truly help a buyer get the best deal.
In Florida, as a transactional agent, you can bring a buyer to your own listing and successfully act as intermediary.
The truth is, the seller has a bottom line price that they are willing to let the property go for - and the realtor, whether the listing realtor or a buyer's realtor, can NOT change that figure.
Conversely, the buyer has a top budget price that they are willing to pay, and NO realtor on any side can change that, either.
What I do in that situation is prepare a fresh comparable market anaylsis for both the seller and the buyer, so everyone has accurate information and an understanding of the current local market. We go from there, keeping the separate strategy sessions confidential.
I have found that most sellers and buyers in today's market are pretty savvy. They have all kinds of internet sites and HGTV and TLC shows throwing information at them, and they tend to have their own strategies, with or without the help of a realtor.
I have had many colleagues tell me that they have found it to be OF BENEFIT to be the transactional agent helping both sides because they best understand the needs of both sides and therefore can help put together a more successful deal without all the usual posturing and bluffing, etc.
2007-06-21 12:10:34 · answer #2 · answered by venicefloridarealtor 4 · 0⤊ 0⤋
It happens all the time. Some people don't like it because they feel there is a conflict of interest. The seller's agent is looking to get as much for their client as they can, the buyer's agent is looking to save as much as possible for their client. How can you do both at the same time? Many agents offer a discount on the commission if they represent both because they don't have to split the commission then. If you are the buyer, I would ask friends and family if they know a good, trustworthy agent to represent you only. You pay no commission, the seller does.
2007-06-21 12:02:05 · answer #3 · answered by Brian G 6 · 0⤊ 0⤋
It is in YOUR BEST INTEREST to have your own realtor. They they are working for you and trying to get you the best deal possible along with all the information you need to get that deal.
I would not have a dual agent, then they get all of the commission and are only working to close the sale with the most $$ as possible.
2007-06-21 12:07:46 · answer #4 · answered by MyKidsMom 3 · 0⤊ 0⤋
yes the agent is then called a broker, my husband and i did this, will never do it again. the sellers were crooks, blatantly lied about septic system, and repairs that were supposed to be completed. get your own agent now don't sign anything without your own agent, we got screwed hard on that deal. NEVER USE A BROKER YOU WILL FEEL LIKE YOU GOT BAD END OF DEAL ALL THE WAY AROUND!!
2007-06-21 12:30:43 · answer #5 · answered by rottonweiler 2 · 0⤊ 0⤋
Depends on the state you are in. Dual Agency is on legal in a few states.... Can cause too many problems
2007-06-21 12:05:47 · answer #6 · answered by RicoM 2 · 0⤊ 0⤋