Real Estate Forums

SEOWolf · 04-20-2005, 01:13 PM

My favorite buying myth is that you can save money by buying through the listing Agent.

At one point in time that may have been true, but is now no longer the case.

Many Agencies will no longer allow the same Agent to represent both buyer and seller to avoid conflict of interest litigation.

The truth is that the Listing Agent owes his/her Seller the fiduciary obligation to get the maximum amount for the sale of the property.

So the idea that a Buyer can save money by going through the listing Agent is a thing of the past.

The question Buyers should be asking themselves is “Do I want the same Agent that is representing the Seller to represent my interest in negotiations, or do I want an Agent that will only represent my interest?”

~VegasMack

Las Vegas Real Estate · 04-21-2005, 12:57 AM

EXCELLENT point, Mack... you are right on.

judyo · 04-21-2005, 12:59 PM

My new brokerage doesn't allow dual agency and although this is something new for me I can state that I've never been comfortable in a dual agency situation. I'm in the process of creating a flyer regarding this to hand out to prospective buyer clients.

San Diego Real Estate · 04-21-2005, 07:45 PM

Judyo ...Ditto...

I had a Dual transaction go south on me last year and I thought it was going to be the death of me

With that being said the buyer being able to save by going direct is probably the biggest myth in the industry!

judyo · 04-21-2005, 09:03 PM

I feel if something goes wrong in a dual agency you have two unhappy clients that will never work with you again or refer anyone. Not worth it to me.

Las Vegas Homes · 04-24-2005, 05:05 PM

The only way I could see the buyer benefiting from a dual agency is if the buyer knows the industry standards and what they can negotiate down.

HHI Golf Guy · 04-26-2005, 01:30 AM

Quote:

Originally Posted by VegasMack

Many Agencies will no longer allow the same Agent to represent both buyer and seller to avoid conflict of interest litigation.

In South Carolina we have both Dual Agency Agreements and Designated Agency Agreements. If you have a large real estate company, it's not such a big deal.

We just purchased a new home that happened to be dual agency, but it wasn't that big a deal. The agents were in offices on opposite sides of the Island. Even with possible conflicts, it was too good a deal to pass up. My wife also works for the company and most of our commissions were waived.

Of course, with a small agency it can open a can of worms (OK - is that a fax coming in from my client or yours?).

REMAX LV · 04-26-2005, 02:14 PM

very good reasoning Mack I totally agree

kylehike · 05-03-2005, 11:52 AM

Removed for spamming the directory.

Message boards are a great place for self promotion. All we ask is that you are a regular contributor to the forum before you go fishing for business.

REMAX LV · 05-08-2005, 06:28 PM

It is true that the listing agent is not really able to look out for the buyers best interest.