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Today with a standing room only crowd the New Hampshire Association of REALTORS board of directors voted to pass the recommended proposed Designated Agency legislation with some added language presented by the Exclusive Buyer agents. The language added appears in Italics below.
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21 Comments on Caution...No designated Agency in New Hampshire yet
Monika -Here in Texas if you're the selling agent and you get the buyer you are allowed to represent both, but you can't advise your parties...only tell information. It's like working with your hands tied and not doing a good job for either party.
When I have both sides I tell my clients that I will have another agent represent the buyer in a consulting capacity. That works best for all involved. I had a situation once where I had both sides and it was the father buying the son's house. Yikes..it got very emotional. I will not do both sides any more!
I see agents take both sides all the time just to get all of the commission, but I don't think you're representing the best for your clients.
Linda,
I've been a Dual Agent so often..I can do it with my eyes shut. But I really welcome the thought of not having to be one and reducing my liability. So in Texas you can represent but not advise?
I'm not sure if not being able to advise covers non-verbal expressions! I've gotten pretty good at eye rolling and facial expressions! LOL
Oh, Monika...that would scare away potential clients if they saw me! You're too funny!
This is totally off topic, but do you teach CRS?
LOL..I though that sounded like a great idea!
Nope I teach ABR,SRES and GRI plus a bunch of other elective classes.
Monika - YAY!!
I'm so glad this is going the path it is - it's LONG OVERDUE in my opinion. We've been able to practice this way in Maine for some time now, and it's about time we in NH get with the program and allow our agents to practice this way.
I realize we still have a way to go, but one step at a time.
YAY!!!
Bummer Linda..That would have been fun!
Ann....YAY...is right! lets hope it sails through!
Moni,
I'm glad to hear the news is good for designated agency here. I think it is the right thing for our clients to get the representation they pay us for.
Judy t
Thanks Judy. It's nice to see you out in the Rain...isn't this a neat place to hang around a bit?
George,
It is a long time...but you know us we waited 86 years for the curse to be lifted...we can wait till 2009 for this. :)
LOL...Thank you George!
Randy...Keep plugging away at it. We still have a long road to travel.
Very interesting. I predict that the language the EBAs attempt to insert will not make the final cut. ONLY because of the nature of the business.
Home owners hire "agents" to sell their home and they expect that agent to attempt to SELL that home, even if it means to a buyer directly. Consumers don't understand agency.
That EBA/ESA language is a warning to consumers that if you contact a listing company about a house for sale, you may not get "representation" from that company.
You can count on one hand the number of consumers that understand "representation". O.K., you might need two hands.
The EBA/ESA language is a direct threat to listing companies that attempt to sell their listings and shows a preference for a business model. I don't believe it will make it. Of course, there's always the chance that the legislature won't notice because they know about as much about agency as the average consumer.
In my perfect world, there would be ONLY EBA and ESA companies, but that won't happen in my lifetime.
So, we'll get to "designated agency", which means absolutely nothing to the consumers. To the consumer, an agent is an agent is an agent. As long as brokers are permitted, by any title or name, to sell their own listings, nothing will change. Only the name of the agent blowing the smoke will change.
Word games don't level the playing field.
Word games don't level the playing field...
You are right about that. But it will allow me to sell an in-house listing to a buyer client without representing some seller that I've never met and know nothing about. I like that idea..I won't "have" to be a dual agent in those circumstances. I like that.
I wonder if the language will stay in as well. We'll see because we still a long way to go. Thanks for commenting Lenn.