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Make Mine a Double

By
Real Estate Broker/Owner with Charlemagne International Properties BRE# 01147470

 

 Article Updated: 11/2016

Am I increasing my chances for encountering troubled waters when I "double pop" my listings?  In my nearly 25 years as a Realtor in Palos Verdes, I have done it only a few times.  Honestly, some of those dual agency transactions have been the easiest of my entire career, but I always enter them cautiously.

On the positive side first:  There's no blaming the other agent, or waiting for the other agent to send paperwork, complete inspections and meet other deadlines.  Forget those emails and voicemails to beg and plead for missing document signatures.  Time management benefits abound.

On the downside:  There is no other agent to share the responsibility.  The glory is all mine, as is the blame for all things great and small. 

 

Important Steps to Avoid Roadblocks and Keep the Parties from Parting:

  1. Build Trust:  I copy the buyer and seller on emails sent to either party (unless it contains financial or other proprietary information).  They each receive the same weekly update.  No favoritism.
  2. Share:  Due Diligence should be more comprehensive and include city, tax, school, permits and building records. Red flags should be addressed immediately unless you want a court date later.
  3. Disclose It:  If the neighbor's dog barks at you when you hold an open house, disclose it.  If the neighborhood is often foggy, disclose it.  Ask the seller to over-disclose and expose all the dirty little secrets of his property's past. Simply stated, confessions keep you out of court.
  4. Inspect It:  A neutral third party opinion in writing regarding a suspected problem speaks volumes regarding your thoroughness.
  5. Document It:  Every phone conversation, every meeting, every email, every time!
  6. Enjoy It!

Is it just me, or is selling your listing becoming more and more popular in today's real estate market with its limited inventory and pocket listings?  And, perhaps more important, is dual agency in the best of interest of both parties?

 

Norma Toering & Team 
(310) 493-8333

South Bay Los Angeles cities I sell real estate: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, Redondo Beach, Hermosa Beach and Manhattan Beach.



 

 

Comments (5)

Charles Tharp
Prudential California Realty - Fontana, CA
Inland Empire, Real Estate & Short Sale Specialist

Hi Norma,

The other bad thing about double ending a deal here in California is that the contracts for dual agency specifically state that your primary responsibility is to the sellers, not the buyers. However from what it sounds like you are doing your job very well. I completely agree with you on disclosing everything.

I had one gentleman I sold a house to in Fontana (double ender) call me about a month after we closed escrow. He said that there were stains in the carpet and he wanted it replaced. I told him that he should have noticed it before we closed escrow as I could have negotiatied with my seller. Afterall, he went through the house 8 times before we closed!

Nov 09, 2007 07:50 AM
Pam Graham
All Real Estate Options - Jacksonville, FL
Jacksonville, Clay & St Johns Counties
Funny that you call it "double pop" your listing, I was wondering what the heck you were talking about, until I read the whole blog. :) We call it a "birthday" in our office. In my 5 year career, I've only had 1 transaction that I had both sides and I felt very uncomfortable. It didn't help that the sellers were 5 siblings who couldn't get just one of them to be a POA and I ran into difficulties getting paperwork signed by all 5 of them in a timely fashion. I learned a lot on that transaction and I think the fact that I was the only agent involved was better because I didn't have to explain the situation to another agent.
Nov 09, 2007 07:50 AM
Kay Perry
Kay Perry, Broker - College Station, TX

Norma.  Excellent information on how to do a double.  We ALL want to stay out of court so your tips are really good.  Thanks for sharing. 

Nov 09, 2007 08:00 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Charles, thank you for your comments.  dual agency always makes me nervous, but that fear is based more on what I've heard from others than from my actual experiences.
Nov 09, 2007 08:03 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.
Kay and Pam, thanks for your comments.  Pam, I've never heard dual agency referred to as a "birthday"--does that refer to a gift or an aging event?!
Nov 09, 2007 08:15 AM