As a Manager of several real estate offices over the past few years and a top producing agent in my first 5 years, I am appalled at the number of Dual Agencies.
A buyer is looking for a home, an agent shows and pressures them into buying their listing!
This called dual agency, I think it is bad business and many times hurts the consumer. I also believe that many agents do not represent the buyer properly, they are just greedy.
Greed should be eliminated!
More law suits every year stem from this practice!!
I suggest the buyer ask the greedy agent to place their listing into the hands of another agent, so that the agent really represents the buyer properly.
I have had that happen to me several times, I have had a listing, the buyer sees it, likes it and wants to place an offer on it.
I then explained what a dual agency was and I turned the listing side over to qualified agent in my office. Which by the way is still a dual agency.
One time when I had a client place an offer on one of my listings I asked did they know of someone in their family who was a licensed real estate agent (usually not a realtor), of course they did, every family has at least 20 members who has a real estate license, (usually not a realtor).
I entertained that we use that person, my client was surprised that I would do that AND give up the sellers side of the commission. I made sure they were with a broker so that person could get paid.
The point is dual agency is very dangerous for every one.
There is even a website (of course) called National Association of Exclusive Buyer Agents.
Its amazing how many of these people that I worked with and explained why it would be in their best interest to work with two agents, that they refer alot business my way.
I am not greedy!
Lets get rid of dual agency transactions.
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