Dual agency is an oxymoron anyway. I have never been very comfortable with letting the other agent in my office know anything about my clients side of a dual agency deal. That agent has a relationship with his/her client and even if he/she doesnt spill the beans...body language sais it all anyway. So I have always used some form of designated agency in terms of protecting my clients information on an inner office deal, but still not able to advocate for them without legal designated agency. There is no downside that I can see as long as the agents protect the information and the clients then are able to get the representation that they deserve and expect...and are paying for!
Montana Country Real Estate - Libby, MT
Ray,
How does designated agency work ? Do you ever represent both buyer and seller your self and how well do you do with it.
Liz
Nov 17, 2009 04:18 PM
RE/MAX Beach & Country - North Myrtle Beach, SC
RE/MAX Real Estate Agent - Myrtle Beach
Designated agency is an alternative to and runs along with dual agency...both buyer and seller have to agree to it just as they would for dual agency. In a dual agency situation, the agent that has been working with the buyer gets to REPRESENT the buyer and the listing agent gets to represent the seller even though its dual agency and both agents work out of the same office. The main difference is that in dual agency niether the buyer nor the seller can be advocated for...you cant advocate for them to the detriment of the other party, but where designated agency is legal you can.
Some good rules are usually in place, for example...if one agent is the broker in charge and the other is an entry level agent, you cant do it because one party will have an unfair advantage and extra pull since the entry level agent looks up to the b i c.
But I think the concept is solid.
Nov 19, 2009 12:36 AM
Rainer
10,755
10,755
Ray Lopez
RE/MAX Real Estate Agent - Myrtle Beach
Comments(2)