Both Buyers Represented By The Same Brokerage Want My Listing...

By
Real Estate Agent with RE/MAX Compass, formerly RE/MAX WHP 0524642
https://activerain.com/droplet/4xzX

It's a precarious position to be in. One of my listings just received 2 offers - from the same brokerage. Betty and Bobby both work for the same company, XYZ Realty. Personally, it makes no difference for me and my seller, but it certainly matters (it better) to the brokerage for Betty & Bobby. 

XYZ Realty has one broker in charge and he or she technically and factually represents all the same buyers within that brokerage. The Realtors/Salespersons/agents all work the 'clients' on behalf of the brokerage. That said, the buyers are supposed to be equally represented and they both deserve to be treated fairly by THEIR brokerage. Ours too, but in this real life problem this isn't about my brokerage.

How can this take place if 2 buyers represented by the same brokerage are interested in the same house?

What if Bobby's buyer was not under a written Buyer's Representation Agreement? Wouldn't that technically make Bobby a Sub-Agent; meaning he technically works for my seller, thereby squashing this entire problem? That could be okay, but Bobby would have to have that disclosed to 'his' buyer, which he didn't, I'm sure. And what buyer want's to be represented by a Subagent anyways? To top it off, Subagents are almost never offered compensation in our MLS. 0%.

I'm pretty certain neither buyer is under a Buyer's Rep. But if they were... wowsers. It could get stickier than that gooey stuff you saw in the movie Aliens. 

I suppose it happens a lot. 2 buyers, maybe three - or even more who are represented by the same brokerage jockeying for a listing "that isn't in house." 

 

Sigh.

TGIF.

 

Posted by

 

 
Greg Nino
, Houston area Realtor®.
Helping residential buyers, sellers and tenants 7 days a week.
Available @ 832-298-8555 

RE/MAX Compass (Formerly RE/MAX WHP)

www.GiveMeMyHomesValue.com

www.EverydayHoustonHomes.Com

 

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

 

 

 

 

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Rainmaker
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Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

It's probably going to happen more and more as the market continues to heat up too!

Jan 30, 2015 02:39 AM #1
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I have had this before however it sorted itself out with one offer much lower than the other! Greg Nino 

Jan 30, 2015 06:16 AM #2
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 In Florida, such a Broker had better "Lawyer Up" in a hurry.   That is a dangerous position to be in.

Jan 30, 2015 11:16 AM #3
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

In Georgia it's only "dual" if you represent two clients in the SAME transaction, meaning a buyer and seller.  While I would consider it unappropriate for a single agent to represent two buyers on offers on the same house at the same time from two different agents at my firm to the same listing at another firm not a problem in my state.

Jan 30, 2015 12:11 PM #4
Rainmaker
442,709
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

Hi Greg.  In our market it's common practice for brokerages pay zero commission to Seller's Agents,  so it behooves us to make sure to have a signed Buyer Agency Agreement before we write an offer.  Having two offers from the same office wouldn't be a problem, as long as each is represented by a different agent.  However, if a buyer from Company XYZ buys a property listed by Company XYZ, that does put Company XYZ in a dual agency position, and there will be many and many disclosure forms to sign by all parties involved.

Jan 30, 2015 09:12 PM #5
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Greg Nino

Houston, Texas
Providing Real Estate Advice 7 days a week!
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