We Live by Our Own Code. What’s yours?

By
Real Estate Agent with HomeSmart ICARE Realty BRE# 01899020

I finished a purchase loan transaction with a client living in Southern California. The transaction went smoothly enough, but my customer asked me a question that I was not sure how to answer. "Did I think it was in his best interest that his realtor was not only representing my client who was the buyer, but also representing the seller as well?" Out of the realtors I've worked with, many have been able to handle a transaction of this nature and do an excellent job. Other realtors I have worked with frown upon representing the buyer and the seller within the same transaction. I am the loan officer and although unbiased, I would like to know what the popular thought is among realtors concerning double transactions.

Posted by

Terry Collins - Lyon Real Estate

Comments (5)

Andy George
Century21 Drue Self Real Estate - Las Cruces, NM
Duel-Representation is illegal in some states, so one hasto be careful about giving advice on it. I know that in New Mexico it is legal, but is best down as a transaction broker without an agency agreement as no fiduciary duties as owed. Instead you represent the contract in a way of speaking.
Mar 12, 2007 05:17 PM
Terry Collins II
HomeSmart ICARE Realty - Sacramento, CA
If it involves real estate, I'm there.

I will keep this in mind. Thank you.

Mar 12, 2007 09:51 PM
Timothy Schwartz
Century 21 Mack Morris Iris Lurie - Marlboro Twp, NJ
Dual agency is legal in Jersey but I find by the end of the transaction someone is usually unhappy because they feel you represented the other side.
Mar 12, 2007 10:15 PM
Timothy Schwartz
Century 21 Mack Morris Iris Lurie - Marlboro Twp, NJ
Dual agency is legal in Jersey but I find by the end of the transaction someone is usually unhappy because they feel you represented the other side.
Mar 12, 2007 10:15 PM
Terry Collins II
HomeSmart ICARE Realty - Sacramento, CA
If it involves real estate, I'm there.

That would explain why my client seemed uneasy during the transaction. Thank you.

Mar 12, 2007 10:24 PM