Peter Mohylsky.   Broker Associate, THE BEACH IS OPEN AND WAITING FOR YOU (PrimeSouth Properties)

Spam prevention
Rainmaker
3,902,721
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

That's one of the reasons why cars have more than one mirror.  Maybe the question is how are they used?  

Sep 26, 2019 07:55 AM
Rainmaker
1,687,348
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

It is a lot less than people think. Don't know the current stats but I remember doing them once. In my estimation, you've got better odds on the lotto.

I feel torn with dual agency, I do not think that the buyer gets the representation that they need. It is legal in IL so I can do it if I choose too plus others taking over also.

Sep 26, 2019 07:18 AM
Rainmaker
1,816,765
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Well first of all it only happens if you are a listing agent Peter Mohylsky . I represented several builders/developers when I was active and I had more than 50 of my transactions being both sides to me. Speaking of here in Minot ND I'd guess that between 10 and 20 percent of the time one agent has both sides.

Sep 26, 2019 06:36 AM
Ambassador
2,494,765
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Not sure Peter. I pay attention to the local market. Residential home buyers are wise to seek out representation, as listing agents and builders represent the seller's/their own best interests here.

Sep 26, 2019 06:34 AM
Rainmaker
3,833,536
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I can't speak nationally, I only know my own experiene. I do not encourage doing both sides of a sale... when I'm a dual agent I'm not able to represent either party's interests. But let's face it... I'm hired by my clients for my expertise in negotiations and to represent their best interests. To me it's a conflict of interest to suddenly stop representing my client. In 26 years, I haven't done more than six sales representing both sides... and those were simple deals where conflict of interest was not going to arise.

Sep 26, 2019 06:25 AM
Ambassador
5,145,243
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I generally prefer to refer the buyer side to another agent, however when I was a buyer I preferred that my agent had both sides and I suspect that many feel this way since it is much simpler for all when you have no people trying to be adversaries and one person concentrating on just getting the job done.

Sep 26, 2019 08:32 AM
Rainmaker
958,860
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

We'd all like to have both sides like it was in the "good ole days" when everyone worked for the seller. But those times have changed and & I don;t encourage dual agency

Sep 27, 2019 06:02 AM
Rainmaker
1,619,312
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We love it when it happens but it is always up to the parties to accept that representation.

Sep 26, 2019 01:06 PM
Rainmaker
601,819
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

I am the person that buyers call when their butt is in a vice with another agent...they want us to "fix it" or tell them what to do.

Too late...I listen to the story and then tell them to call an attorney.

Most times it is a broker that is sitting in the middle trying to cajole both sides into some agreement that will keep the ultimate double dip in their  pocket.  The buyers are heartbroken and feel that they are being screwed...they are.

In Florida "dual agency" morphed into "transaction broker" so that agents could dupe more consumers into thinking that they really had someone on their side. 

Dual agency (double agent) is a word that most will understand. A Transaction Broker is a word that fools the consumer...a florida transaction broker is just a better name for a dual agent.  In fact it is a dual agent without any fiduciary duty.

I don't care how smart someone is or how good looking they are...there is NO WAY that any dual agent can work magic by serving 2 masters that have opposing interests.

Conflict of interest is the reason that I have never double dipped a transaction.  I make one side of the deal and am not complaining about the money I make. 

I have maximum job satisfaction knowing I am making a difference in a home buyers purchase.

Eve

Sep 26, 2019 10:40 AM
Ambassador
2,985,696
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

1st Question:  I do not know. 

I am not a fan of dual agency.  I've done it twice in 16+ years. Once it worked out well the other was a transaction from Hell-o with a bully investor who ended up being sued by 35+ contractors for non-payment and embezzled 6 Million from an investor. He was ultimately arrested. 

Sep 26, 2019 09:51 AM
Ambassador
4,451,247
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I have no idea about the stats but suspect they are fairly low. There are some data from Ken Jones, Realtor .  I have only done 3 transactions with both sides but it's been years.

Sep 26, 2019 08:42 AM
Rainmaker
523,297
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

For me NEVER! I just don't think you can serve two masters! I know those that do, and have no problems! I just called do it myself 

Sep 26, 2019 07:53 AM
Rainmaker
2,600,762
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The opportunity comes up almost all the time but the welfare of the client takes precedence and a split is introduced. The temptation to not cooperate, string along the client & keep it all is strong and doable but looked down on as a rule. We forget money (and power) brings out who a person really is everytime and the love of money takes us into another world. Woe unto us

Sep 26, 2019 06:42 AM
Rainmaker
3,283,049
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Peter Mohylsky I prefer other agents sell my listings.

Sep 26, 2019 01:09 PM
Rainmaker
5,568,384
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

as buyer agency becomes more understood, I would think the full pop would be eliminated....everyone deserves proper representation.... buyer agents should sell every listing.... I think they sell the majority unless the listing agent plays games...

we don't play games....we move property!!

Sep 26, 2019 11:18 AM
Rainmaker
859,318
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

In the past year, 27 deals and 9 were dual for me. So 33.33%. Like a record!

I can't speak to outside my area. I can note that those 9 deals I did myself were the highest dollar deals and also went the most smoothly. 5 of those 9 deals, at least one of the clients was a repeat client or has since done another deal with my office.
I have a lot more problems with unsophisticated agents doing commercial transactions than any issues with 'unfair treatment' in dual agency transactions. And this is ALWAYS addressed AT TIME OF LISTING.
Only one client in recent memory has asked that I not represent the buyer, and I am happy to refer buyers out to my trusted colleagues in that event.

Sep 26, 2019 07:29 AM
Rainmaker
659,894
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I used to get both sides on 1 in every 3 listings before Zillow, and others, started selling off the rights to our listings. Since getting sold-out the #'s have went down but I still get both sides on deals. I have 1 right now. Many times it's my wife's listing & I have the buyer or vice versa. 

Sep 26, 2019 07:15 AM
Rainer
124,418
Ken Jones
Kenneth J. Jones, Inc. - Rahway, NJ
Commercial Real Estate Broker & Appraiser

Peter Mohylsky I've actually analyzed data from the Arizona Regional MLS (ARMLS) and several multiple listing services in New Jersey, including the Garden State MLS, Middlesex County MLS, Monmouth-Ocean MLS and Ocean County MLS.

I analyzed these data for each year from 2013 through 2018.

All of these data were quite consistent in showing that only about 15% of all residential properties (1-4 family and condos) were sold by the listing agent.

While I've never done a study of the entire industry in the United States, nor am I aware of any such industry, I think it's reasonable to assume that the national stats are either the same or very similar.

Sep 26, 2019 07:10 AM
Rainmaker
862,156
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Great question!

What is even better is every agent on AR can search their MLS for closed transactions for the last 30, or 60 or 90 days and get a good snapshot. My MLS actually allows a Listing agent equals selling agent' search.

Brokers in collaboration with associations are rabid about preventing 'pocket listing' which was a great driver of double-siding.

Now, do the same MLS search for 2015, when pocket listing were more common.

It is not what the client wants (double siding can and most often is beneficial to the client)  but is crucial for brokers and associations to ensure agents have few choices.

I won't share my finding until others have demonstrated some effort.

Sep 26, 2019 06:48 AM
Rainmaker
3,291,456
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Here in NH you do not have to by a dual agent to do both sides. I can be a listing agent, have a buyer reach out to me direct, i dont represent the buyer but can be a facilitator, show them the home, write the offer but dont offer any advice. I would say most often on my short sales and bank owned listings, buyers reach out to me direct to avoid buyer agents with no clue how bank owned or short sales works. 

Sep 27, 2019 05:12 AM
Rainmaker
391,175
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

There was an NAR chart with the statistic that a listing agent had a 25% chance of selling their own listing. I have sold my own listing many times. In Maryland you have a disclosure form Understanding who the agent represents that needs to be presented to a Buyer prior to showing. I find experienced Buyers have no issues working with the listing agent, but I also see less double dipping for listing agents in today's real estate world.

Sep 26, 2019 07:20 PM
Rainmaker
3,953,756
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not very often in my opinion. And that is often enough for me!

Sep 26, 2019 02:01 PM
Rainmaker
1,353,498
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have no idea about nationally or even locally.  I know it's not very common for me, though I'd love for it to be more common.  :)

Sep 26, 2019 10:00 AM
Rainmaker
468,099
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

In our area it's about 15%.

Sep 26, 2019 08:59 AM
Rainmaker
1,707,191
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I don’t think that is the most important question about an agents role. What is best for the client is.

Sep 26, 2019 08:40 AM
Rainmaker
1,370,158
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

More than should be allowed!

Seems here that if it is done the properties are sold at the same time it goes into the MLS.

Sep 26, 2019 07:57 AM
Rainmaker
6,285,813
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Follow the rules in your state.

Sep 26, 2019 07:25 AM
Rainmaker
744,324
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I can only speak for my own experience and the answer is "not often".  Yes, I've done it and quite honestly, the process runs much more efficiently than it would've with some of the "other" agents out there. That being said, it is tough to truly represent both sides; even when attorneys are involved...  My most recent practice is to refer to a competent colleague.  

Sep 27, 2019 04:49 AM
Rainmaker
1,383,863
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

We probably handle both sides in about 10% of our deals.

Sep 27, 2019 03:46 AM
Rainmaker
3,481,957
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Dual agency is alive and doing well in my area.  Not all that uncommon

Sep 27, 2019 01:24 AM
Rainmaker
5,286,739
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

I don't have an opinion on this, nor have I analyze this.  A

Sep 26, 2019 08:29 AM
Rainmaker
1,130,239
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Small time agents work on being on both sides on purpose. I avoid have presentations as a listing agent request another agent represent the other parties. There are several 1000 lawyers in next town. Most have a broker license they will certainly demand seening their offers and others rejected signed by the sellers. A few have lost their licenses.

Sep 26, 2019 06:58 AM
Ambassador
4,027,322
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I've never heard statistics but, I think it's quite low in my area. It is frowned upon and honestly, I wish NC & SC both would deem it illegal. 

It's a conflict of interest and as I tell buyers who call me, thinking I'm the listing agent - "I'm NOT the listing agent and you don't want me to be! The listing agent has an established relationship with the sellers and you are NOT going to win or save a red cent if you go with the listing agent. That said, if you don't hire me, AT LEAST hire yourself a buyers' agent."

Sep 27, 2019 11:14 PM
Rainmaker
1,595,715
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Very rare .

Sep 27, 2019 06:13 PM
Rainmaker
3,763,444
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Maybe onces a year I get both sides.

 

Sep 27, 2019 01:37 PM
Rainmaker
618,720
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

I would guess on average two times in each five year period.  The would be about 5.5% of the time.

Sep 27, 2019 03:25 PM
Rainmaker
529,064
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

The client rules in these instances.  Let them decide how it would be handled.  It happens a lot in our area.

Sep 27, 2019 09:14 AM
Ambassador
3,593,338
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

It can be a legal nightmare in our state and I must concur with Nina Hollander 

Sep 27, 2019 06:41 AM
Rainmaker
4,663,191
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have not had both sides in years.

Oct 09, 2019 02:30 PM
Rainmaker
1,642,969
Mike Cooper, Broker VA,WV, MD
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

I don't know about the nation or industry wide, but I do about 6 a year. On some of those opportunites, I put the sellers and buyers at a table, and we work out the details together. In the end, they all agree, and most of the time, they become good friends.

Sep 28, 2019 08:15 PM
Rainmaker
857,558
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Dual agency is not legal in all states. Dual agency is a very small part of our Team business. Dual agency can be fraught with peril for clients and agents. 

Sep 28, 2019 03:49 PM
Ambassador
1,344,260
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

In my part of the world, it was attempted to rule out Multiple Representation (Dual Agency) and it failed.  There are too many smaller communities that don't have a huge number of Realtors.  The example given, you have a 20 year loyal repeat client who wants you to list their home.  Then, another 30 year loyal client wants to buy it and obviously wants to use you represent them on the purchase.  Which do you kick to the curb when they have no desire to use someone else?  When you know there is no one else suitably qualified to represent them in the area?   Do you refer them to someone out of area who hasn't a notion?    Real Estate is local and country wide rules have no place.  I am quite happy to have repeat clients on the same property and will continue to do so and I am thrilled that this was overruled.

Sep 28, 2019 05:47 AM