Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
3,693,389
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

That is so easy, without disclosing either party's position I just ask the buyer to give their best and final that they feel comfortable with and  not feel like oh what a shame we missed out... then on the seller's side I show that that the buyer gave his best... hope this helps, Endre

May 14, 2018 10:42 PM
Ambassador
2,565,111
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Give the buyer/customer a non-representation notice, and honor the fiduciary you have with your Seller/client.

May 14, 2018 09:24 PM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

I have done it many times very successfully... You do not disclose any confidential informatio to either side and treat everyone fairly and honestly.

May 15, 2018 04:49 AM
Rainmaker
4,066,684
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Maybe half a dozen times in 25 years... no muss, no fuss. But it's very rare that I have a personal client who is interested in one of my listings. The point is in a dual agency you cannot ngotiate for any side. You are simply a messenger between two parties. That's why I don't like dual agency... it can be an inherent conflict of interest and buyers and sellers hire me at least in part for my negotiating skills. What are they "paying for" if I then cannot negotiate for them.

May 15, 2018 06:43 AM
Rainmaker
3,323,606
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I do my best to stay out of a dual agency. When buyers come to buy my listings, i have them sign the state agency disclosure and the buyer is a transactional agency while the seller continues to be my client

May 15, 2018 05:16 AM
Rainmaker
4,067,571
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Ever?  Yes.  Typically?   No.

This is discussed with the seller when signing the listing - some reel comfortable while others don't so there are "no surprises" when this is raised/presented.  "It depends" can also apply. It's about the client.

 

 

May 15, 2018 04:47 AM
Rainmaker
442,783
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

If the Buyer wants to make an offer on my personal listing with me, I have them sign the agency relationship disclosure they agree to be unrepresented. If it is a company listing w/ another agent in house they sign the consent for dual agency form. Yes I have had a number of these  transactions since the agency laws in Maryland changed years ago.

May 15, 2018 04:27 AM
Rainer
322,217
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

Refer it to another agent so you get a referral fee, and keep the best interest of each client is best represented. 

May 14, 2018 09:34 PM
Rainmaker
551,496
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We have done this many times with great success - even with multiple offer scenarios. 

May 15, 2018 03:52 PM
Ambassador
2,070,077
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

In Florida, we are considered transaction brokers unless a different notice is given.  It allows a licensee to assist both the buyer and seller in the same transaction but does not allow representation of one party to the detriment of the other. The duties of the transaction broker include: dealing honestly and fairly, accounting of all funds, using skill, care and diligence in the transaction, disclosing all facts that materially affect the value of the property and are not readily observable.  It also includes presenting of all offers/counters in a timely manner and "limited confidentiality" that prevents the licensee to disclose any of the parties' motivations, willingness to negotiate, or any other information that either party requested to remain confidential. In other words, a transaction broker cannot share the "secrets" of one party with the other if working with both. 

Having said that, it does not happen routinely and strangely enough, I've had many sellers who seemed almost disappointed I didn't also work with the buyer. 

 

May 15, 2018 05:09 AM
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!

Yes many, many, many times. In Florida, all agents are presumed to be Transaction Brokers unless the agent enters into another form of agency. 

I have worked as a Transaction Broker while representing both the buyer and the seller many times. I do this by dealing honestly and fairly, accounting for all funds, using skill, care and diligence, disclosing all known facts that affect the value of the property not readily observable AND not discussing price or motivation of the other party. Basically, my customers can trust me. 

If you are an honest person, knowledgeable, confident, present yourself as trustworthy to the customers AND know how to negotiate a win win deal, then you will not have a problem working in this capacity. 

If you are weak at negotiations, not very confident, don't know what you are doing, show doubt, stutter, have cross eyes, blink a lot and/ or pick your nose in public then this type of agency is not for you. 

May 15, 2018 05:09 AM
Rainmaker
852,568
Ritu Desai 703-625-4949
Samson Properties - Ashburn, VA
Northern Virginia,Washington DC & Maryland Realtor

We have unrepresentative disclosure form I use that over dual. With dual you are still obligated to look out for your clients best interest and be fair. Which is so tough to deal.

May 15, 2018 03:33 AM
Rainmaker
513,724
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I don't do dual agency, but I do sell my own listings when asked. I have one client, the seller and one customer the buyer. They receive a Law of Agency pamphlet from the state and an explanation of my duties of confidentiality to my seller.  If they wish to proceed, it's in my seller's interest for me to do it and I do.  The buyer gets professional services, a CMA, my suggested inspector but my allegiances remain with the seller. It doesn't happen often, but I've done it a few times. 

May 14, 2018 11:41 PM
Rainmaker
1,515,055
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes. Never had any issues.

May 14, 2018 10:57 PM
Ambassador
4,206,438
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I've had that happen too, Praful and it's not something I enjoy. Just refer one of them out and you handle the other (if you have agency agreements with both parties).

May 14, 2018 09:52 PM
Rainmaker
1,881,410
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

No

May 15, 2018 02:23 PM
Rainmaker
681,162
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Dual Agency is allowed here. I have done many transactions representing both seller & buyer & have never had any issues. We either use the Standard  Offer to Purchase form or the Standard Connecticut Real Estate Contract.

May 15, 2018 05:46 AM
Rainmaker
2,020,550
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

No advice & counsel 

May 15, 2018 05:11 AM
Rainmaker
4,168,555
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Make sure both parties understand your position. Then suggest a referral. Only then proceed forward.

May 15, 2018 05:10 AM
Rainmaker
4,006,836
Richard Weeks
Dallas, TX
REALTOR®, Broker

Dual agency is not allowed in Texas. If a broker represents both parties we must do so as an intermediary.

May 15, 2018 04:46 AM
Rainmaker
846,710
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes, very carefully remembering what can and can't be said. Ours hands are basically tied, so it's mainly review and delivery. The sellers and buyer do the negotiating with offers and counter offers.

May 15, 2018 03:41 AM
Rainmaker
1,525,205
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I sometimes worked with both buyers and sellers when I was an agent in Florida but I worked as a transaction broker not as a dual agent.

May 20, 2018 12:02 PM
Rainmaker
4,895,671
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Colorado does not offer dual agency relationships.

May 17, 2018 09:03 AM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes, I do one side at a time and explain the good and bad for both clients.

 

20+ years and no complaints

May 16, 2018 08:30 PM
Rainmaker
641,083
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

I've double ended quite a few contracts in the past 22 years.  I feel that I do it best and can wear both hats and bring both parties together with both parties being treated fairly and without disclosing what the other party has shared with me.

May 15, 2018 11:45 PM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I am sure early in the buyer/seller agency days I acted as a dual agent but not in the last 15 to 20 years.

May 15, 2018 07:45 PM
Ambassador
5,368,191
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Everything is Win/Win, but the last time i was in a dual agency situation I was the buyer.

May 15, 2018 06:57 PM
Rainmaker
4,433,683
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

May 15, 2018 08:06 AM
Rainmaker
2,635,527
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

For those that know how to navigate through this...its easy-peasy

May 15, 2018 08:05 AM
Rainmaker
5,571,411
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we always act as a listing agent.... if a buyer calls on it, we refer that buyer to someone in the office.... we pick a side and stay there.... if the buyer insists on using the listing agent, we continue to be the listing agent....and we explain to the buyer that he/she would not have representation....  we won't send a potential buyer away, after fully explaining and not changing that buyer's mind..... 

May 15, 2018 08:04 AM
Ambassador
3,038,976
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am with Michael Jacobs on this .... in 16 years I have done it twice. Once very successfully and once with a real butt wipe that has since lost his license and has over 50 lawsuits from contractors he has not paid ... as well as the $5M he embezzled from an investor.  

May 15, 2018 07:43 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's your call.  I have never negotiated with the buyer as far as commission goes.  I have with the seller.

May 15, 2018 05:39 AM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

No.

May 15, 2018 05:26 AM
Rainmaker
5,538,196
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Yes,  In commercial real estate both parties have a bunch of attorneys on their side, and they are not interested in dealing with two agents...they are not worried about being snookered by anyone.  Our clients were savvy investors.  It was disclosed in all our forms.  Other times there would be agents representing large tenants for our listings, and we all sat down and worked it out.  There was no animosity between sides, it was all win/win.  Ron and I were very fortunate to work with real pros...A

May 14, 2018 10:02 PM
Rainmaker
1,636,442
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Open book to both sides and get the parties to agree through a mediated negotiation either in person or separated with me as the mediator, not arbitrator.

May 15, 2018 11:38 AM
Rainmaker
710,004
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Absolutely. And proceed with care. Dual agency is great IF and only IF you do it right.

May 15, 2018 06:31 AM
Rainmaker
539,094
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

many times with no problems and agree with most of what Richard L. McKinney P.A. said.

May 15, 2018 05:48 AM