consumer: Dual Agency is a Scam, part 2 of 2
- 07/14/11 08:36 AM
In part 1 of Dual Agency is a Scam I discussed what dual agency is and how it can arise in a real estate transaction. In this final posting on the subject I want to talk specifically about why it is not a good thing and what you might do about it should you find yourself in that position. Before I get started, let me first address why I deliberately use the word “scam.” Dual agency is a scam perpetrated on the real estate consumer not because it is illegal, but because the consumer rarely understands its implications and little … (4 comments)
consumer: Dual Agency is a Scam
- 07/07/11 08:44 PM
Dual agency is a scam. If you are a buyer, it has a severe negative impact on your negotiating position. Dual agency arises when a single agent or broker ends up, for whatever reason, representing both the seller and buyer sides of a transaction. In my opinion, for reasons detailed in this post, I believe there is absolutely no upside for the consumer, especially the buyer, in this situation, but there is most often a tremendous upside for the agent. If an agent or broker is requesting that you sign a consent form for dual agency, run, don’t walk, in … (8 comments)
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