Desmond Neoh, Your Area Specialist, Multilingual (Weichert, Realtors)

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Rainmaker
391,524
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

It's only a sweet deal if the buyer and seller are happy with the outcome.  

I've done dual agency transactions before.  It must be done honorably and it is imperative that the buyer and seller each get excellent representation from you.  Each party must understand you will not disclose the secrets of the other. 

Feb 22, 2016 12:49 PM
Rainmaker
846,275
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Back in the day when it was allowed I did it all the time. We are transaction brokers now which allows it. Just make sure everyone knows whats up and mind what you say to each party.

Feb 22, 2016 08:26 PM
Rainer
213,163
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

Why do you have to be a dual agent to have both sides? Why not represent the Seller and write the offer with the buyer as a customer? Dual agents can't do anything for either party anyway, so why not just represent your seller?

Feb 22, 2016 06:56 PM
Rainmaker
1,510,357
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I did and i would do it again if a buyer is willing to submit offer with best terms that will work for both principals, and you have to disclosure your DA to all. 

Feb 22, 2016 04:28 PM
Rainmaker
864,258
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

I usually avoid dual agency. How can anyone truthfully represent both parties to their benefit? It is possible, however, one must be very careful not to divulge any information to either party. It is like skating on thin ice. I don't like to put myself in that situation.  I usually just refer out when faced with dual agency. 

Feb 22, 2016 02:32 PM
Ambassador
1,771,405
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Yes Desmond I have done it a few times. You have to be careful. I make sure that I do not assume anything and get my directions directly from the client even more so in a dual agency situation. If you do it right it can work, Are you presented with a dual agency situation now or just thinking about the future?

Feb 22, 2016 01:20 PM
Rainer
43,931
Stephanie & John Webb
Latte Stone Realty LLC - Albuquerque, NM
Stephanie Webb Co-Owner, Latte Stone Realty, LLC

No but I have had a friend want to make an offer on my listing- I had my husband represent our friend and I represented my seller. We worked it out perfectly and everyone was happy.

 

Feb 22, 2016 12:19 PM
Rainmaker
605,070
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

If money is the only objective, than yes it is a sweet deal...

If you want to stay away from conflict of interest and do what is better for the consumer, than you will not do it.

Dual agency is the equvalent of being a double agent and talking out of both sides of your mouth.  Buyers and sellers have conflicting needs...if dual agency were really possible, there would only be one attorney in each courtroom.  They could run from one side of the table to another and pretend to represent both the plaintiff and defendant.

Attorneys loose their license over "conflict of interest".  Real estate agents involved in a conflict of interest simply get paid more.

Eve

Feb 22, 2016 11:11 PM
Rainmaker
1,624,172
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

In Florida, it is not dual agency, but transactional agency. do it all the time.

Feb 22, 2016 10:04 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

In my company we can defalut to transaction broker which isn't an agent for either (if both are in agreement). I have done that many times and if either party doesn't want that I will refer the buyer to another agent. No problem at all.

Feb 22, 2016 09:40 PM
Rainmaker
1,721,855
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have before, but it's better to have one agent on your team to represent the other party to avoid potential problems.

Feb 22, 2016 09:28 PM
Rainmaker
3,908,628
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Before what? I have done some dual agency transaction, but I don't make a habit of it... you do tread a fine line.

Feb 22, 2016 09:24 PM
Rainmaker
869,101
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Disclosed dual agency = ok in AZ. Although generally we avoid it, there are instances where I would prefer to have 'me on both sides then a bad agent on the other side'. You can always work for the seller, offer buyer customer-level service and avoid dual agency. Otherwise, just make sure that due diligence is comprehensive, seller fully discloses, and you maintain confidentiality where needed. However. If you sense that a party may be litigious, avoid it. Dual agency transactions also double your liability.

Feb 22, 2016 09:21 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Not single agent dual agency...and wouldn't even though it's legal here in Arizona...

Feb 22, 2016 08:40 PM
Rainmaker
80,203
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

I used to live in a small city.  Most of my transactions were dual agency.  Working for the largest agency in the area now, many of my transactions are dual agency.

Feb 22, 2016 08:39 PM
Rainmaker
4,021,662
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Dual agency, transaction broker or whatever. It can work!

Feb 22, 2016 08:25 PM
Rainmaker
1,791,657
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I've avoided dual agency so far. In this case, I'd just tell the past client that I am representing the seller and would be happy to represent them as a customer. If they're okay with that, then let's go!

Feb 22, 2016 07:57 PM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Pennsylvania allows dual agency with proper disclosure to both parties. The Consumer Notice which must be given at initial substantive meeting explains  agency options to enable the consumer to decide which type of representation they prefer. Other forms (listing contract, buyer representation contract and sales contracts) explain & identity & disclose options.

Dual agency is common in Erie market.

Feb 22, 2016 07:48 PM
Rainer
140,360
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

Dual agency is against the law in Florida. What you describe would be handled as a Tranaction Broker and YES, I have done many, many deals as a transaction broker. Just remember, that deal needs to be a win, win for both  you should deal honestly and fairly with all parties. 

Feb 22, 2016 07:04 PM
Rainmaker
831,772
Peter Mohylsky. Broker Associate
Miramar Beach - Santa Rosa Beach, FL
THE BEACH IS OPEN AND WAITING FOR YOU

I have done it and do not like the experience. It is a sweet deal but does require some extra concerns.

Feb 22, 2016 06:25 PM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Desmond Neoh you are so right.  I have done a few dual agency deals - and barring one, it's always a pleasant experience.

Feb 22, 2016 03:09 PM
Ambassador
3,021,047
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I have, not frequently and not without full consent and understanding and both parties understanding the process and being experienced.

Feb 22, 2016 12:41 PM
Rainmaker
1,596,476
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Not very often the agent is on 2 sides.

Jul 04, 2019 11:05 AM
Ambassador
5,214,218
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

It happens.

May 24, 2019 09:54 PM
Rainmaker
4,736,762
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dual agency was removed from our agency options years ago.   If we have an unrepresented buyer interested in writing on our listing, we have to change status to Transaction Broker.   Some sellers do not agree to the status change.

Feb 23, 2016 10:55 PM
Rainmaker
222,905
LuxurySoCalRealty San Diego
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Essentially in dual agenncy you become a mediator and eliminating a middleman.   

Feb 23, 2016 11:29 AM
Rainmaker
625,205
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

I've done several.  Some oft he sellers dislike me making so much money.  I simply explain to them that I would be representing the buyer on a home they purchased whether it was this one or another home.

Feb 23, 2016 06:40 AM
Rainmaker
1,444,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Desmond Neoh I've done several dual agency transactions over the years. Dual agency is legal in my state, if it is properly disclosed and all parties sign up to it. Education is the key to a successful transaction for all involved.

Feb 23, 2016 05:16 AM
Ambassador
3,001,727
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Only 2 times in 13+ years.  If both buyer and seller are good with it ... then roll with it. I can work. I'd rather not get involved with it.

Feb 23, 2016 04:28 AM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I do 50-60% dual agency.  17+ years without a complaint or a request to bring in another agent...Many have said that is was the best transaction they have ever done

Feb 23, 2016 03:32 AM
Rainmaker
140,518
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

I try to avoid dual agency.  I'd try to be too helpful and get myself in trouble.  I would consider it if the parties have had experience with the process.

Feb 23, 2016 03:18 AM
Rainmaker
1,361,958
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I've done two in the last six months.  Best thing since sliced bread!  Always fully disclosed to both parties.  My sellers actually prefer me to find the buyers and would rather pay me the buyers side.  It's a rarity, but something I try for on each listing.  So far, I've gotten lucky twice.  Almost got lucky a third time at an open house!

 

Congrats Desmond Neoh, they are rare and beautiful transactions when they happen.  Cherish that and know your past client retention marketing is really working!

Feb 23, 2016 02:58 AM
Rainer
45,807
Andy Madrid
Hawaii Coast Realty, LLC - Kailua-Kona, HI
Expertise, Professionalism, and Service

I always refer them out.  If its a past client, I just explain the situation and have them put themselves in the sellers position.  I bring in someone to represent them and take a big cut of the pie since I have the ready, willing, and able buyer to hand over.  They will still be my clients though.

Feb 23, 2016 02:55 AM
Rainmaker
5,570,665
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we are listing agents, and we DO NOT PARTICIPATE IN DUAL AGENCY....we full expect and PREFER that all buyers have representation.... it's the clean deal.... we full explain buyer agency to buyers who approach us for new construction.... most will secure a buyer's agent....but there are those who do not want one, and we must go forth as representing the builder to sell them the house.... they have it in writing that we represent the seller.... they've heard it verbally in depth....  the rest is out of hands....

Feb 23, 2016 01:59 AM
Rainmaker
3,873,651
Richard Weeks
Dallas, TX
REALTOR®, Broker

In Texas we are not allowed to act as a dual agent.  Our state law allows us to represent both parties as an intermediary.  The law is very specific as how the transaction must take place.  I have done them before, and if done correctly it is no big deal. 

Feb 22, 2016 10:43 PM
Rainmaker
1,136,268
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Not if the buyer is an attorney with 2 pages of conditons. Offer gets rejected.

Feb 22, 2016 10:39 PM
Rainmaker
2,013,870
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Your example does create a dilemma.  

Feb 22, 2016 09:45 PM
Rainmaker
831,848
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Buyer and seller have to agree to the dual agency first. They aren't always sweet deals. Buyer can be unrepresented and still make an offer.

Feb 22, 2016 09:42 PM
Rainer
3,827
Kevin Finch
Finch Commercial Realty - Plano, TX
Dallas and Fort Worth Tenant Representation

I prefer to represent the buyer in my transactions. I have done one dula agency assignment in the past and I did not like the experience of being an intermediary. This is why I work for only one party in a transaction.

Feb 22, 2016 09:34 PM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Feb 22, 2016 08:32 PM
Rainmaker
3,529,765
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Dual agency around here is common.  It is very nice.  I've had a few and am looking forward to my next one.  

Feb 22, 2016 07:35 PM
Rainmaker
634,272
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Yes I've done many dual agency transactions. I requires the highest integrity and more communication skill as well as documentation. Experienced, skillful agents can do dual agency effectively but it's not for everyone.

Feb 22, 2016 05:16 PM