Say you’re in the middle o
f a property search in the area of Southport, NC. You’re out riding around on a Sunday afternoon and you run across my sign here next to a parcel of land in the area you are looking. Should you call me at the number given? Is this a trick question? Yes it is, for my answer is, “No.” I’m serious. The reason is simple.
Why would you call the Listing Agent if you are a Buyer? The Listing agent represents the Seller. By you, the Buyer, calling the Listing Agent, you involve yourself and the Agent in what is called “Dual Agency.” The Listing Agent can no longer represent the interests of the Seller exclusively. He must offer you “skill, care, and diligence,” but his primary loyalty must be to the Seller, and he must try his or her best to work impartially for both of you. To put this in perspective, if you hired a lawyer to represent you in a legal matter, and agreed to pay for that representation, and then found out that this same lawyer was also representing the other party involved in this legal matter, you might not be so happy. So can a Listing Agent represent both the Seller and Buyer equally? No, because the Listing Agent’s primary allegiance must be to the Seller. He cannot disclose anything about the Seller that would be to your advantage, or advise you at what price to make an offer. He must offer you “skill, care, and diligence,” but his loyalty must be to the Seller. You get the picture.
So why even enter into that quagmire of “dual agency?” Why not work with a Buyer’s Agent who will have 100% loyalty to you? A Buyer’s Agent will find and disclose to you all pertinent information about the home or property you are looking at, what the current owner paid for the property, how long they’ve had it, how many days it’s been on the market, etc. A Buyer’s Agent will also disclose relevant known facts that may affect the investment potential of the property. And all of these benefits are of NO cost to you.
What’s the catch? There is no catch. It’s that simple. So the sign you see here is for a piece of commercial property I own. Should you call me? I will treat you fairly and with complete honestly, but it would still be in your best interest to work with another Buyer’s Agent. But please give me a call if you see something else!
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