Comments on: Time to Look Again at Agency in Virginia

By: urban trekker

urban trekker — Mon, 24 Nov 2008 19:54:29 +0000

Good post! Think a lot of people (buyer & seller) don’t know about the implications of doing both sides..

By: Sheila Koski

Sheila Koski — Thu, 13 Nov 2008 20:52:15 +0000

I think the problem begins when we advertise our listings. Naturally people will call us to find out about the listing. That is where it gets sticky. I frankly stumble over my words everytime this occurs. Of course I ask if they are working with an agent, in which they inevitably answer NO. What do you do next?
I think the process is backwards and needs to be rectified. However, I don’t know how!

By: Bill Burruss III

Bill Burruss III — Fri, 24 Oct 2008 01:46:40 +0000

When I read through these posts as a niche REALTOR specializing in land, I find no disagreement. When I read the names of those being quoted and those that wrote the posts, I see strong leaders doing their work by expressing their wisdom. These people are some of our most intelligent and caring members. Agency and education go hand-in-hand. My experience as a Virginia REALTOR is that our agents get little training with land. When was the last time you went on a house caravan where the listing agent showed the lot boundary or an easement? - I bet they showed the kitchen. I think many of our problems come from our education and experience, we have learned how to make presentations that sell property and avoid our knowledge of the land and we have learned where lawyers will strike next, which may be on issues of agency rather than land ineptness.

Until I see our members better educated on issues of land I will support dual agency. - Yes, I feel that both parties need to be well informed of what dual agency means to both parties. I do not like walking this tightrope, but I feel I am forced into this position because someone has not educated their agent. If you want strong agency, you will need to have a well educated agent.

By: Angela Dougherty

Angela Dougherty — Thu, 23 Oct 2008 22:03:02 +0000

Jim and Scott–I agree. Single agent dual agency may have a place, albeit a very rare one, in representation. We do over 1000 transactions a year in our office and only about 6 are in the dual agent arena. I tell our agents that if a file crosses my desk with a dual agency designation I better be able to call each party and have them explain to me that they understand that neither party has representation and that the agent is now “neutral” and basically is a paper facilitator. That has curtailed the use of single agent dual agency. We need to fix our own problems (divorcing the greed for more commission dollars) in favor of being the “trusted advisor”–which term will never match single agent dual agency no matter what spin you put on it.

By: michael guthrie

michael guthrie — Wed, 22 Oct 2008 23:54:17 +0000

In my opinion, Dual Agency should only be used in one very rare situation. that being if you have a exclusive right to represent with a buyer and you end up representing a seller whose house fits your buyers needs perfectly. Given that you are engaged with both of them as clients and that they both agree in writing, disclosed dual agency is the cleanest way to handle the transaction. If you have a listing and a buyer wants to buy it, like Scott, I recommend treating the buyer as a customer.

By: Ki

Ki — Wed, 22 Oct 2008 17:28:58 +0000

Personally I dont like the idea of dual agency. I think it hurts us as a profession. It creates too many opportunites for conflict of interest situations.

By: Scott Rogers

Scott Rogers — Wed, 22 Oct 2008 12:47:34 +0000

I agree with you on single agent dual agency. I actually used that lawyer parallel in an article in our local newspaper when I was asked to write a real estate column. It was in my first few months as a Realtor, and publicly denouncing dual agency did not win me a lot of friends in the local Realtor community. :)

I asked my question above because I believe there are plenty of appropriate times for that to take place. It would always be best for a buyer to have a Realtor representing them, but if I am representing a seller, it is not in my client’s best interest to tell an interested buyer to go find representation — it is best (in my opinion) to work with them as a customer.

By: Jim Duncan

Jim Duncan — Wed, 22 Oct 2008 11:40:45 +0000

Scott - On that, I’m indifferent. My opinion is that one Realtor cannot effectively represent both parties in a transaction.

It’s been said before - could you, as an attorney, represent both the plaintiff and defendant? If we’re honest about truly “representing clients” the answer is no.

A customer should be free to not have representation - and this leads to a further discussion about divorced commission, but that’s a windmill for tilting at another day.

Honestly, I fear that the only change that is going to come is from outside the Realtor world, as today’s Realtors are too invested in the status quo.

By: Scott Rogers

Scott Rogers — Wed, 22 Oct 2008 11:34:20 +0000

Jim — refresh my memory on your opinion of an agent representing the seller as a client and working with the buyer as a customer in the same transaction…

By: Becky Yacone

Becky Yacone — Tue, 21 Oct 2008 22:21:55 +0000

Dual Agency
How to earn HIGH “Courier fee”.