In Maryland, a real estate broker can designate different agents to represent diffent parties in a real estate transaction, but no single agent can represent both parties.
I wanted to bring this important consumer protection issue to your attention. This type of solicitation seems to mislead both consumers (buyer and seller) in who the real estate agent is representing by promising to save the seller money.
“If you are thinking about putting your home on the market, but not sure about market conditions……we can save YOU money”
“I can help you save money if my client purchases your home.”
- If they are representing their client, how are they saving the seller money.
- If they are saving the seller money, how are they representing the buyer?
I am sure that this agent doesn’t mean to do the wrong thing. However, it would be very simple for him/her to say he/she is looking for a home for her client in the neighborhood and to call him/her or if they are already represented by a real estate broker to have the broker call her. I find the tone of this letter very disturbing for consumers.
My purpose it to bring awareness to highlight practices that negatively impact the consumers.
Brokers are responsible to what their agents do. If you are a broker and your real estate agents can not represent more than one party in a transaction - maybe it is time for a review.
What do you think?