Listing Agents Employ A Buyer's Agent On Their Team?

By
Real Estate Agent with Cutler Real Estate

I am seeing more and more "Team" ads where a "listing agent" is pictured as the Team Leader and takes all the listings under their own name. Also in the same ad is a picture of another team member that is a "buyer's agent" that will be representing buyers on the listing agents properties? 

It seems a little strange to me, but I would suppose it is legal, or NAR would not allow it?

Shouldn't it be disclosed that the "buyer's agent" is actually a dual agent since they are a team member when it comes to working with buyers for the listing agents listings?

How can a "buyer's agent" in a team give full representation to a buyer in this scenario? I am confused.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Groups:
ABR/REBAC
Tags:
listing agent
representation
buyer agent

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
214,471
Nick Bastian
Realty Executives - Tempe, AZ
Real Estate Agent - Tempe

Not sure about OH, but in AZ, you are only a dual agent if it is a company listing that is sold. A listing agent employing a buyer's agent to field buyer calls, show properties etc makes a lot of sense, to me. If the ad mentions a buyers agent, they might just be letting the potential callers know who they will be dealing with. If the person calling does end up buying the home in the ad, an obvious disclosure should be made. (should be made at first contact)

The agency relationship / disclosure should't be any different if someone calls a listing agent directly.

Apr 11, 2008 03:39 AM #1
Rainmaker
290,082
LaNita Cates
REMAX of Joliet - Joliet, IL

Nick is correct for IL too. I started out as a buyer's agent for someone that worked with both sellers and buyers but I was exclusively a buyer's agent. The downside is everything went under that agents name for "credit" and they got 1/2 my commission. I finally said no thanks!

Apr 11, 2008 03:45 AM #2
Rainer
52,042
Jim Dvorovy
Cutler Real Estate - Canton, OH
REALTOR - Canton Ohio Real Estate

Nick - Thanks for the reply. So if the listing agent ad is for "123 Elm St.", and a customer calls and wants to see it, the buyer's agent will show it, and disclose to the customer that they represent the seller since they are on the team, but could also act as a dual agent?

LaNita - Thanks for your reply also. I am confused how a team member can be an exclusive buyer's agent. I am sure it must be so, but it boggles my mind.

Apr 11, 2008 03:53 AM #3
Rainmaker
534,794
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor
I'm not sure if it works this way everyone - but when I worked as a Buyer's Agent - what I got was all the inquiries from buyers on our listings...............I showed that property and many others.  If they chose the listing that was with our 'team' we explained the 'dual agency' situation and had them sign off.
Apr 11, 2008 03:53 AM #4
Rainmaker
214,471
Nick Bastian
Realty Executives - Tempe, AZ
Real Estate Agent - Tempe
Jim.. Bingo! That is how we do it. :-) Gives flexibility to sell our listings as well as help people with any other property. As long as a timely and proper disclosure is made, all should be well. Of course, not everyone does it "by the book," and I believe your blog raises a very good concern!
Apr 11, 2008 04:02 AM #5
Rainer
52,042
Jim Dvorovy
Cutler Real Estate - Canton, OH
REALTOR - Canton Ohio Real Estate
Liz - Thanks for the reply. So if they didn't choose the team listing, then they would not know you represented the seller during showings? Their perception was that you were representing them as buyers? What happened when they would ask questions, especially ones whose answers would be confidential to the seller?
Apr 11, 2008 04:43 AM #6
Ambassador
1,726,566
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Jim.

In GA we have a "designated agent" category that lets the broker assign one agent to the seller and one to the buyer. It is not considered a dual agency situation.

Apr 12, 2008 12:46 PM #7
Rainer
52,042
Jim Dvorovy
Cutler Real Estate - Canton, OH
REALTOR - Canton Ohio Real Estate

Richard - Thanks for the extra information, it is much appreciated.

I can see the broker "assigning" an agent to a customer in certain circumstances. Mostly, I think, buyers and sellers choose which agent they will work with. According to statistics, it is often the first one they meet. It has been awhile since I've read about designated agency.

Does the designated agent assigned to the buyer work under a team concept partnered up with the designated seller's agent? Shouldn't the broker assign an agent other than a team member to ensure proper representation?

Apr 12, 2008 01:01 PM #8
Rainmaker
214,471
Nick Bastian
Realty Executives - Tempe, AZ
Real Estate Agent - Tempe
Richard.. Very interesting. We do not have that here in AZ. I guess I could think of arguments for and against it. Great topic!
Apr 12, 2008 01:21 PM #9
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
52,042

Jim Dvorovy

REALTOR - Canton Ohio Real Estate
Ask me a question
*
*
*
*
Spam prevention

Additional Information