If Attorneys Represented The Plaintiff & The Defendant | Nice Fee!!!

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Services for Real Estate Pros with RE/MAX Executive Realty 104763
https://activerain.com/droplet/5lh4

Agency!! An important topic to discuss no matter where you live. Why? The answer is simple. Everyone deserves “proper representation.”

Many agents think they can represent both parties! I don’t understand that thinking. One agent can only represent one side and do it properly.

Other than garnering the entire commission, what’s the point of tiptoeing through a transaction?

Attempting to “keep the peace” is also referred to as “community policing.”  “Proper representation” and “keeping the peace” are not interchangeable. Proper representation may require stepping out of that “peaceful box” and addressing an issue. How does one agent accomplish that without picking a side?

We are real estate agents who would be wise to “pick a side and stay there.” Have you ever witnessed an attorney representing the “plaintiff” and the “defendant?”

It’s the same principle!!! One client at a time. One side for proper representation.

This topic cannot be discussed enough. For what reason other than the full commission would one take on both sides?

Is the risk of being caught in the middle and having a failed transaction worth the effort of securing that extra money?

I’d rather earn my half of the commission and sleep well at night.

Just sayin’…… 

 

 

Posted by

       

Barbara Todaro

Marketing Agent for The Todaro Team

308 W. Central St...suite E

Franklin, MA 02038

508-918-9148

Exclusive Marketing Agent for The Todaro Team

 

             Copyright © 2009 - 2019 Barbara Todaro

                               All Rights Reserved



 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Joseph Domino 480-390-6011 11/04/2019 12:06 PM
  2. Roy Kelley 11/08/2019 01:00 AM
Topic:
Real Estate Best Practices
Groups:
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Rainmaker
5,077,069
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Barbara Michaluk and the WORST situation is with new construction.... the buyer relying of the builder's agent or the skirt at the front door who is hired for an hourly wage to show the model home...

Nov 05, 2019 06:42 AM #39
Rainmaker
5,077,069
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Scott Godzyk sounds like it might be second in line with dual agency.... 

Matthew Klinowski, PA it's actually impossible to truly represent two opposing parties.... one party is proper representation.... 

the next time you hire an attorney and you're the plaintiff, good luck to you if that attorney represents the defendant too.... impossible.

Nov 05, 2019 06:46 AM #40
Rainmaker
5,077,069
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Wayne Martin when I got divorced, my ex and I worked out the entire divorce financial details.... we each had an attorney and all they did was legal documents.... the divorce took 2 weeks.... fastest in MA....

Nov 05, 2019 06:50 AM #41
Rainmaker
5,077,069
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Grant Schneider every state should have a law....a universal law prohibiting dual agency...

Kat Palmiotti nor should real estate agents...

Margaret Goss yes, disclosed dual agency is the form we have also.... it continues to be no representation for either party....

Nov 05, 2019 06:53 AM #42
Rainmaker
647,268
Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

Hi Barbara Todaro 

Once again...I am in the minority. 

Over 75% of my transactions are done with one Broker involved.  ME.

I cannot tell you how much smoother a transaction goes when there is not other agent involved.  Since many on this blog have never done that...they would not understand or know that fact.

Here are a few of the advantages I have when I am the only Broker/agent involved:

I deal directly with the seller and buyer and handle issues quickly. One phone or text and since I know everyones schedule...I know how long to expect a return call or text...if not handled on the spot.

No agent egos rear their ugly head.  No miscommunication or lack of response from the other agent. No runing paperwork around and around and around. No "let me check with my client and get back to you" from the other agent.

Please keep in mind that I was a Re/Max agent for over a decade...I was on the Area and State Board of Realtors...was a CRS, ABR, GRI and played all the games with single side rep and dual agency. So I understand fully the process from all sides of working with buyers...or sellers...or both.

I have one goal and one goal only:  To have a happy seller, a happy buyer, and a happy wife.  I am very successful at doing that. To accomplish that I work closely with the buyer and seller if I am the only Broker involved because I want a smooth transaction. 

While on paper it appears that it should not work...it is so far from the truth. My only question is why do people question whether it can work or not?

We had our yearly Real Estate Commission audit two weeks ago and over 75% of the files audited we had both sides of the transaction.

I understand that many folks will think I am wrong in how I do it....just as the local agents around here think I am wrong...but again I only care what the Seller and Buyer (and wife) think.    And they are happy...and that makes me happy.  

Nebraska does not have Buyer Agency agreements that lock a buyer into a specific agent...what a wonderful thing for the Buyers in Nebraska.  They can do what they want and get away from the lousy agent if they so desire.

I am not looking for an argument...or running battle over single side or both sides...but would be happy to step on a stage and debate the pros and cons of each.

 Have a great day and thanks for a lively blog!!

Nov 05, 2019 07:17 AM #43
Rainmaker
795,769
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

I share my office with an agent who is a previous attorney. He loves dual agency as he feels it is easier to keep a deal together when he knows what is going on. Does he do it exactly right? I don't know. I on the other hand will avoid dual agency as I prefer to represent just one person. That does not mean I won't help a customer who wants an agreement written up, just like a new construction site agent will do whilst representing the builder. It is interesting how much passion this topic creates.

Nov 05, 2019 07:40 AM #44
Rainmaker
2,809,069
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

This is music to my ears.  I had a long conversation with a potential seller client yesterday about this topic. I could hear the lights coming on in his head and truly understanding representation. I told him upfront I will not do it. I represent the seller and the seller only.  

Nov 05, 2019 07:50 AM #45
Rainmaker
739,071
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Like Mike McCann - Nebraska Farm Land Broker said . . . when I am on both sides of a deal AND PROVIDED that the clients are sophisticated enough to fully understand all aspects of a real estate transaction (and my clientele is typically 'woke enough' to get it, plus we go over it in detail at time of listing) then I solo may be better than introducing another agent who is an 'unknown quantity' or worse, a known problem. And many of my clients have stated as much. 

If a prospective buyer even smells like an issue, I have said many times I can't handle both sides, there are 1200 agents in our region and I'll coop with anyone in the great state of AZ, pick one and have them contact me. If a seller even smacks of 'trust issues', ditto. Even if they've signed the 'Consent to Limited Representation' (which I get signed at listing).

So case by case, I generally know what I'm doing and I also understand the business model of those who don't ever do it. 

Nov 05, 2019 08:00 AM #46
Rainmaker
2,046,510
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

This discussion is ongoing in Texas and highly recommended that agents avoid it for legal reasons. Agency is something every agent should know well. I will not participate in Buyer/Seller Representation regardless of money. 

Congratulations on the FEATURE! It is well-deserved! 

Nov 05, 2019 08:01 AM #47
Rainmaker
5,459,038
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Congratulations, Barbara, on your feature recognition.

Thanks for sharing your thoughts on this important topic.

Nov 05, 2019 08:44 AM #48
Rainer
272,623
Stephen Turner
Gemcraft Homes (TriCorner Realty) - York, PA
The BIG Guy of NEW HOME SALES

great insights on "proper" representation! Also, I think the comparison of who a lawyer represents, is a great way to help get the point across to potential clients.

Nov 05, 2019 10:17 AM #49
Ambassador
3,097,762
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

It is puzzling when you explain agency to bueyrs and sellers in our state that any of them would feel it would be beneficial to them to have a dual agent representing the other side as well.  As Anna Banana Kruchten CRB, GRI, WLS pointed out in her comment, it's like you don't represent either side.  As I explain it to my sellers, I won't do it because more than half of the reasons you are hiring me to represent you go away and I get paid twice.  That fair?  No. 

Nov 05, 2019 05:15 PM #50
Rainmaker
647,268
Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

Just to be clear...it is not about the money...the way I write my listing agreements does not make me any more money than if an agent brought the offer.  And agents are more than welcome to bring me an offer if they so desire. 

Nov 05, 2019 06:21 PM #51
Rainer
411,119
Dan Hopper
Keller Williams Realty Downtown LLC - Denver, CO
Denver Realtor / Author / Advocate/Short Sale

For the last 25 yrs, since RE Law enacted in our State.... I have always enjoyed the flexibility of representation under agency or non-agency relationships.  Whether a client or customer ... we get the task done, properly!  Understanding what is created by an Agency representation and behaving like there is Fiduciary responsibilities vs Non-agency representation and behaving like that ... works well.  I have known some Attorneys handling both parties, too... called mediation!  Oh, what a wonderful life we have!!!  OOPS... silly of me, Yes I have handled both sides on about 7% of my transactions over the years.

Nov 06, 2019 09:37 AM #52
Rainmaker
2,474,221
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

With stakes so high and no do-overs allowed much care is needed in Real Estate

Nov 06, 2019 10:43 AM #53
Rainmaker
539,637
Karen Rice
Davis R. Chant, REALTORS - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales

What Mike McCann - Nebraska Farm Land Broker said. Currently in a transaction now with an out of the area agent and getting answers is worse than pulling teeth.

Nov 07, 2019 12:23 AM #54
Rainmaker
303,974
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

Congratulations on a featured post with a topic that always draws a strong reaction!  I have only done a couple of dual agency transactions (which is legal in AZ).  I think the success of the transaction depends on understanding the buyer and seller. In a smooth transaction, it is easier to keep the deal going.  If one of the parties is difficult, best find a coop agent to represent the buyer.

Nov 07, 2019 05:25 AM #55
Rainmaker
810,269
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

It is definitely a conflict of interest to try and play both sides.  With how much back and forth there is on certain deals, you would almost certainly not give your all to one side or the other. 

Nov 07, 2019 09:23 AM #56
Rainer
448,835
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Very well said.  There is always a chance someone will not be happy. It is better to represent one side at a time.

Nov 07, 2019 09:49 AM #57
Ambassador
4,045,352
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Barbara:

You certainly make a strong case for single agency of either a buyer or a seller. It's a topic I cover with every seller and not one in recent years has wanted to enter into a dual agency situation, should a buyer I found want to do so.

Jeff

Nov 07, 2019 07:46 PM #58
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Barbara Todaro

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