I believe I can wear two hats…Just not at the same time.
Working for your client is your fiduciary responsibility, identifying the client in the transaction is relatively easy for a good ethical Realtor. The Person who hires us to complete their transaction requires our honest opinion and best efforts on their behalf.
A recent example of my buyer’s agent’s hat being worn:
A home inspection brought to light same major water damage, and pest infiltration in a condominium my buyer clients wanted to purchase. This was sufficient grounds to walk away …move on and find another solution. But, These buyers identified this location as their first choice. I got involved with the management company, condominium board of directors and insurance carrier to make major repairs to this specific unit. It was a long and drawn out process involving roofing, windows, doors, decking and future repairs that needed to be pre-approved in order for my client to buy. Other units with the same floor plan were available in the complex…but my clients wanted this one and three months of daily due diligence is what it took to work. They got what they wanted because they hired the agent that was willing to go the extra mile and not seek the easy way to get a paid.
In a recent seller’s agent listing transaction: I was able to get the buyer customer, represented by another agent to accept a financing condition as “Subject to financing of what ever amount the buyer’s lender is offering”. It turned out the home appraisal came in $50,000 below the contract sales price. In a combination of the buyer really wanting the place and not having the right to cancel for the low appraisal amount I was able to push to seal the deal. This seller wouldn’t have had a chance of completing the transaction without my firm guidance in the contract, inspection and deposit negotiations.
Before I was married for the second time…my (then) girlfriend asked me?: Do you see yourself being able to get married again? I can give unwavering loyalty to anyone that will give it back to me. I’m not afraid of commitment…I’m a Realtor.
Here is the thing, Realtors that practice one type of agency exclusively I commend you, but…that is too limiting in my urban market area. Can I be loyal to a buyer client and give my unwavering fiduciary duty to them? Can I be completely fair and honest with my seller when I’m a listing agent? Yes…to both but I don’t offer to do it in the same transaction. I don’t practice dual agency, I work for one side or the other, If a customer approaches me about my seller’s listing…that buyer will understand and sign a Facilitator Relationship Disclosure form, They will know I represent the seller and they should not share anything they do not wish the seller to know (period). I will not offer a Buyer agency relationship to anyone looking at any of my listings (period).
Does this mean I’m a seller’s agent and put on a buyer agent hat when it’s convenient? No not at All, people that seek me out to hire me as their buyer(s) agent know my reputation for getting the job done. They have been referred to me or found me, because of my building, development, design background and know all the other agents in the area respect me for the loyalty I give to my client…even when the going gets tough. The year 2010 will mark my 27th year as a full time…that’s my only job – REALTOR – can I offer loyalty to the people that are loyal to me?...You bet I can!!
Steve Loynd your White Mountain Real Estate Expert...whether you are buying or selling experience matters and you choose which hat I wear when representing you in your real estate needs.
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