This Is Why Buyers And Sellers Need Their Own Representation!!!
I love this post! And it's written by a very STRONG listing agent.
When buyers think that they know it all . . . this is something that can happen with a Dual Agent. I'm wondering if the BUYER knows that the Dual Agent is trying to interfer with the appraisal and get it adjusted up! LOL.
Both Buyer and Dual Agent are very foolish.
I read a comment this morning from a buyer in another state who is in a transaction and used the “listing agent” as a “dual agent!!” This anonymous person left a comment on my blog post titled "Buyers Need Guidance...Listing Agents Are Not Their Guide..." The comment was #57. Read it, please.
My team members and I are listing agents, and we do not participate in dual agency. We pick a side and stay with it. If the buy does not want to secure the services of a buyer’s agent, we will continue to represent the seller. We disclose that in writing and verbally. There are some buyers who refuse, for whatever reason, to use another agent!!
This particular buyer was well into the transaction with the person she referred to as “the listing dual agent.” The appraisal had been completed, and the listing agent was not happy with the number. It sounded like the property did not appraise!
The “dual agent” went forth and called the appraiser to assist him with more information to raise the number of the appraisal. So, who is this dual agent representing? Sounds like a listing agent who represents the seller, and the buyer is flying solo!!!
This is a flight that should end with a crash. Those who participate in dual agency should understand that there are no sides to represent. The seller should be flying solo, too, but in this case, there seems to be a co-pilot.
This is what happens when a buyer refuses to use a buyer’s agent, and the listing agent convinces that buyer to just use the listing agent. They call it dual agency, and the buyer loses. Listing agents, call it as it is. You’re a listing agent. You represent the seller. Don’t call it dual agency.
There is no one representing the buyer, if the buyer is not securing the services of a buyer’s agent. It doesn’t cost any additional money. The seller pays the commission, and the listing agent pays the buyer’s agent. It’s simple to understand, and it’s a simple task to accomplish, buyers.
Why do you insist upon creating a death trap for yourselves, buyers? Another name for dual agency is greed, in my humble opinion. A dual agent is an agent who is thinking about his/her own wallet and stuffing it with the entire commission.
How sad is that? What’s even sadder is the buyer’s situation and being deceived by the so called “listing dual agent.” That name says it all, doesn’t it????
Barbara Todaro, sales manager of RE/MAX Executive Realty
Team Leader of The Kuney-Todaro Team
308 W. Central St
Franklin, MA 02038
508-520-9881
www.todarosellsfranklinma.com
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