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I see no problem representing both parties in a transaction. I do believe it requires a higher level of skill, knowledge and expertise in dealing with both clients than what many agents might possess.
If you can't do it, I understand. I can do it and will do a very professional job taking care of both parties needs.
It's great to hear from someone who does and you confirmed my point. Some people are comfortable doing it and do it successfully. I have never done it and don't think I ever will. You can never say never but I don't think I would be comfortable in that situation.
Last edited by debbiekr; 07-27-2008 at 07:24 AM..
Reason: mistake in wording
debbiekr - I totally agree with you! I think double sided deals are fraught with problems. I wish that the laws would change. You can't represent both sides, and no matter how you attempt to explain the concept of agency to people most will always see you as working for them. So now you have company - let the flogginig begin.
I have use a sellers agent as a buyer in the past, no problems. As a buyer I have used it to my advantage, while talking you can find alot of info. that a buyers agent is'nt privey to. I dont want to say that the agent involved overspoke his bounds but you can pick up on things if you listen. On the other hand you also have to realize that what you say may get back to the sellers, so yes it is a double edged sword. The last time I purchased this way we all sat down at the table and worked out the deal and signed a contract within 20 mins. I moved into the house 2 weeks later. I actually prefer to do it this way, it's usually faster. Also you have to remember not to get "emotional" about the house and hey alittle sugar can go a long ways.
We had a similar experience years ago. We quickly figured out that our agent was only showing us his company's listings, and furthermore he was just a clueless guy as far as aesthetics goes.
I will be using an agent in Savannah to help uncover the properties that meet our requirements, but at the same time I will be checking the listings and making my own suggestions of what I want to see. The agent, a native, will be most useful to me to steer me towards towns that suit us and safe areas.
Thanks FLBob - didn't want to offend anyone who does do this. In our state it is illegal to disclose anything to the buyer in reference to personal information about the Seller. For instance, even if I'm representing the buyer and find out that the seller is getting divorced, husband is in jail for theft and lost his job and the kids have been kicked out of several schools, etc. I can not disclose this to my buyer. Not that the buyer would care but I guess they feel some would try to use it to their advantage. Anyway, I guess my point is, it's too easy to be blamed later for something that the other party might have found out, regardless of where the information came from. It seems to always come back to the Realtor I also feel, like you said, first time homebuyers, no matter how much you explain, might not still understand the whole agency thing. I would rather be safe than sorry and have everyone feel they are on equal ground, for lack of a better word.
I have use a sellers agent as a buyer in the past, no problems. As a buyer I have used it to my advantage, while talking you can find alot of info. that a buyers agent is'nt privey to. I dont want to say that the agent involved overspoke his bounds but you can pick up on things if you listen. On the other hand you also have to realize that what you say may get back to the sellers, so yes it is a double edged sword. The last time I purchased this way we all sat down at the table and worked out the deal and signed a contract within 20 mins. I moved into the house 2 weeks later. I actually prefer to do it this way, it's usually faster. Also you have to remember not to get "emotional" about the house and hey alittle sugar can go a long ways.
This is exactly why I don't like working both sides. The buyer believed that information from the listing agent gained him advantage in the negotiation. What happens if the seller feels that the listing agent provided information that was to his disadvantage in the negotiations!
Representing both parties many times is dependent on the agents relationship with both parties. If an agent knows the property well and has a very trusting and solid relationship with both parties, who better to put the deal together to the advantage of both parties when each knows what they want ?
It is all dependent on the experience level of the agent & both buyer and seller. When all 3 have been around the block a few times it's really very simple.
Many times these clients have better representation than bringing in an unknown agent to represent one of the parties (unknown to the client). I have to add my 1st 4 or so years in the business, I might not have been comfortable but the longer I've been in the business I believe I can give great representation.
Representing both parties many times is dependent on the agents relationship with both parties. If an agent knows the property well and has a very trusting and solid relationship with both parties, who better to put the deal together to the advantage of both parties when each knows what they want ?
It is all dependent on the experience level of the agent & both buyer and seller. When all 3 have been around the block a few times it's really very simple.
Many times these clients have better representation than bringing in an unknown agent to represent one of the parties (unknown to the client). I have to add my 1st 4 or so years in the business, I might not have been comfortable but the longer I've been in the business I believe I can give great representation.
I'm no rookie. Just the fact that you use the words "representing both parties" will give an attorney great joy.
I completely understand what you are saying, no argument here. In the example I gave, here is abit of the background. I was looking in the area, drove by as the realtor was putting the sign up. I pulled in and talked with agent for awhile, was told the folks had this property for less than a yr., what they had already improved, the neighbor was into **** fighting, the land next door wouldn't perk,ect. The owners then pulled in and they walked in with us, blah blah, agent asked about my interest and I said get a contract and lets talk. She made the comment about how fast this was happening, did I need to sell another place ect. She turned to her sellers and said You may get your dream house, lol, after the agent went to get the paperwork the sellers told me their dream house was going to be listed at the end of the week. I already had my funds, my house was all ready to list, I wanted a fast closing so did the sellers. We sat down and ended up closing 2 weeks later. Everyone got what they wanted. Now a buyers agent probably could of gave me most of this info. but as far as the neighbors, doubtful, would I have know how big of a hurry the sellers were in doubtful. Was this to my advantage? Also I wouldn't of been able to have a contract on the place within an hour of listing if I had to get a buyers agent. Hopefully the circumstances of this deal will clarify my opinion. It wasn't like I was out having coffee or driving around with the agent, being all chummy.
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I also feel, like you said, first time homebuyers, no matter how much you explain, might not still understand the whole agency thing. I would rather be safe than sorry and have everyone feel they are on equal ground, for lack of a better word.
You just made my point thanks
