-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
Posted by 
;)
;)
;)
Find CO real estate agents and Westcliffe real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
67 Comments on Did We Create Our Own Public Relations Problem?
Gary I don't see anything wrong with it either. I'm just thinking there is a BETTER way. It is legal and ethical...but I do think there is a better way to do it.
Gayle I learned a long time ago that people that talk slow have a much lower IQ than others. (I'm from TX). So, I understand the better-than-you mentality. I appreciate how you are able to handle both sides and make it work. I know there are many other great agents out there doing the very same thing. You are proof that it can be done. Thanks for commenting and enjoy the day!
If I'm the listing agent, i can be a transaction broker as long as all parties agree and sign the proper forms, John. I have never had any problems with agency or representation. It has to be properly explained and acknowledged.
Toni YOU ROCK! I did the same thing for years and thought a Transaction Broker was the ONLY way to work. Then, I had the unfortunate experience of talking to Tom Early from Ohio. He is overwhelming when it comes to supporting Buyer Agency! The bottom line is DISCLOSURE DISCLOSURE DISCLOSURE I am thoroughly enjoying this discussion.
I've seen many discussions on AR about this topic and I sometimes feel that many of the realtors here have forgotten what the public perceptions were before they became realtors and spent time 'in the trenches' while possibly trying to please everybody and still gain the highest percentage for their efforts. How can 'dual-agency' not be the number one problem on the list when you're dealing with a public relations (perception) trust issue inherent in almost no other profession? All the other shortcomings that may have caused public misconceptions &/or prejudices, such as past bad experiences, not communicating, not experienced enough or properly educated, are the same in almost every profession. Not so much so with the issue of dual-agency. The public has numerous examples of professionals representing a 'side' and not trying to straddle some fence, possibly at the expense of that public.
As a buyer and not a realtor, I want a professional 'in my corner' (just like I would with any other profession) representing my best interests to the best of their ability. I would also rather not represent a fool (myself) in court, either, unless I just don't have the option.
Even with "full disclosure", you're still dealing with someone who claims and is being paid to represent "your best interests". "Best" is a superlative and there is only ONE - Even if you're the most ethical realtor that ever lived it's impossible to represent, and advocate for, the best interests of both sides of the table, along with your own as well, no matter how well you understand all of the people and the issues. Even Solomon couldn't do what dual-agency supposes. What if your transaction ends up in court for some reason. Court is all about sides - us vs. them. Who, then, does the dual-agency realtor represent?
IMHO, if you support dual-agency (in good concience?), maybe you'd be better suited as an arbitrator or mediator than a realtor. I, for one, will enlist the services of a 'buyer's agent' whenever possible when that's the side of the table I'm on...
~ \ | / ~
"Remember - Think twice, push ‘Send' once. Blogging, posting, commenting: It's all 'never having to say you're sorry', because that won't make any difference --
-- it's FOREVER!"
One day they will say we cannot represent anyone but the one that actually pays us which IMO is the way it should be. Does anyone think they represent anything or one but the deal
John You could have written this blog for me! I spent 13 years as a Mediator/Arbitrator before moving to Colorado and becoming a Realtor. Maybe it is that background that makes me question the status quo. Thanks for your comments...YOU ROCK!
Joyce I have to explain to every client how the commissions work. Explaining that a $1,000 makes me $30.00 just doesn't justify me expecting them to pay one penny more than they have to. After a client gets to know me I like to tease them that the more money they spend the more money I make. I agree they should pay us. That is an option on our contracts in Colorado. I did have one client give me a $10,000 bonus for Christmas! Made my day!
Read these posts over--anyone who touts dual agency says it has "worked well for them" or that "disclosure is the answer". I submit that in both cases, we are not putting the customer first. That should be our job. Plain and simple. It is that way in other professions. Do divorce lawyers represent both sides? Can you tell me how y ou can "fair" to both sides in a transaciton when issues like inspeciton problems or the right to terminate arise? It cannot be done. This is the system we have, though, and each of use must decide how they will represent their customers/clients. For me, thee is only one answer. I practice exclusive buyers agency.
Buying\selling real estate and divorce law is not apples to apples. To each is own, I say dual agency works. And by the way,a professional agent is more important, if the agent is not professional they can't represent either side.
Linda Yep! You said it all. I know I gave up some money when I became an EBA but I could sleep better at night! I think my reputation has benefited greatly and my earnings have returned to where I make a good living. I am finding my earnings continue to grow each year as my referrals increase and I improve with age!
Jon I totally agree that a professional agent makes all the difference in the world. I have sat with other brokers to discuss an offer their new agent presented and how to help them make a better offer. Then, we have brokers that I will throw the biggest party this town has ever seen when they move. Everyone finds their own comfort level and you have found yours.
John~ "hero status" great job, this is the perfect conversation, I love it.
This topic is tricky due to rules that differ State to State. As I see it, we can represent both sides equally and it should not matter whether or not we represent either or both sides. "when I represent both sides I do it the same way I would have represented just one side"
I know, like I said, this topic is tricky :)
What I have done is to have all calls from signs go to the Buyer's Department. Our Buyer's Agents are just that . . . ONLY BUYER'S AGENTS and our SELLER'S AGENTS are just Seller Agents. We have Designated Agency Practices in our office, not Dual Agency.
Jon Tricky was my intention! I want us to consider all the what if's. What if you are a Seller's Agent and your sister/brother, mother/father, son/daughter want to buy that property? What if?
Joy That sounds like an excellent way to handle the situation. You ROCK. Reading your comment to Joan ~ are you sick? Flowers to ya! Thanks for commenting
John- you wanted and here it is, great job. And as for myself, family members or friends I think dual agency works perfect as long as the agent keeps professional :)
No incompetent agents create the problem. I have no problems with single or dual agency and neither do my clients. Years ago with the sub-agency game or what I called pretend agency I finally started rejecting sub-agency and drove the board lawyers nuts.
The DRE agreed with me and the only question I had for the board lawyers was how much do you think this is going to cost the board when you lose, and sub-agency faded away in our area. Still had suits by buyers for implied agency which was corrected by the state agency disclosure form.
One question that has always bothered me: If you knew the seller would take less or the buyer would pay more...? Isn't that an impossible position?
To answer this question- Throwing a 2nd agent into the mix still wouldn't inform the seller if the buyer is willing to pay more or inform the buyer if the seller will come down. Information the dual agent doesn't disclose is the same information a buyer's agent or seller's agent wouldn't disclose to the other side.
Sometimes having buyer representation can actually cost you more- whether it's in price or future problems. I recommend the same home inspector and same lender to buyers whether I'm a buyers agent or dual agent. Too often buyer's agents try to prove their worth by flexing instead of trying to get the home their buyer really wants for the best price and terms possible. An unprofessional or inccompetent buyer's agent can cost their client the home they really want- especially in our current market of little inventory.
"could this be the #1 problem real estate agents have concerning our public image?"
To answer this question there are a lot of worse practices than dual agency- some listed below in no particular order:
I could go on and on, but the agents I'm whining about in the bulleted list above are the same agents who give dual agency a bad name.
Also, in Michigan, having both sides of the transaction doesn't necessarily make a person a dual agent. Buyers have the right to be unrepresented and I really don't want the government stepping in, making more laws, and taking away the right of the buyer to choose the agent he wants to work with. What would come next? Not allowing FSBO's?
Brian Incompetence will destroy any profession. I picked EBA just because it was easier for me to sleep at night ~ personal problem! Thanks for you comments
Jackie I don't think I have ever lost a sale because I was an EBA. My position is I was very uncomfortable just presenting offers and counteroffers because I was the middle man. In a small town where everyone knows everyone the sellers are usually moving back somewhere to see the grandkids grow up and the buyers are moving here from out of state. I enjoyed bumping into my buyers knowing I did my best to help them get their new home at the best price and terms. Sometimes my position was protecting my clients from a nightmare instead of their dream home.
I agree with you and Brian that incompetence is a major problem and it bothers me that our code of ethics prevents more self-policing. Nor do I want the government stepping in but I think self regulation would be a good start.
I guess my point was good agents can be EBA's, seller agents or dual agents. We are in a market with a very low inventory and multiple offers are common. I have had offers on my listings that were not chosen solely because the buyers agent was weak. Adding contingencies to the offer but stating in an email that we could eliminate some of them (such as possession or asking for seller concessions they say they don't need). Perfectly good buyers who weren't advised to come in as strong as possible. And all these agents were aware they were competing against other offers.
Texas calls this Intermediary and all must be treated equally and my sellers say they are glad for me to bring them a buyer. This is a question in the listing contract and can be checked as no status. All must be treated fairly and honestly and remain neutral.