To dual or not to dual is a question many of us are faced with at sometime in our Real Estate Career. Many brokers don't mind working in a dual agent capacity, others feel it is a conflict of interest. I feel that if a buyer wants my listing and says they are OK with using me as a dual agent they do not realize what they are getting into. It is almost impossible to be impartial to both parties. On more than one occasion I have informed buyer's in this situation that dual agency is usually not in their best interest. It is my policy not to work in a dual agent capacity, so whether you are a buyer or a seller, you have exclusive representation and know I always represent your best interest.
When a prospective buyer calls on the phone or finds me on-line and inquires about my listing, one of the first statements out of their mouth is "How low will the seller go?". In North Carolina we are required to discuss agency at first substantial contact, my answer to that question, "I represent the seller and my job is to get them the highest price possible. If you are interested in making an offer on this listing, I can refer you over to someone else in my office." In North Carolina, we call that designated dual agency. Both agents work for the same firm, but are designated to represent only one client. All communications about price, motivation etc. are kept confidential.
Whenever I meet with a prospective buyer or seller for the first time, I always discuss agency. I let them know that before they decide to hire an agent to keep their mouth shut as anything they say can and will be used against them in a negotiation by that agent if they choose to work with someone else. I also tell them that if they attend an open house, call off a sign or visit a builder and the agent tries to chat them up, to be polite but firm and inform them that they have an agent.
When is dual agency in the client's best interest? I struggle to think of a scenario when it actually works, however if both parties are willing to sit at the negotiation table with a set of ground rules and the agent only plays intermediary to facilitate the deal, that might work. That almost never happens.
If you are looking for a real estate agent to represent you and you are faced with the delimma to dual or not to dual, hopefully this explaination will help you with your decision. If you want exclusive representation and to work with an agent that has your back, give me a call.
If you would like to search homes for sale in the greater Charlotte, Matthews, Mint Hill and surrounding areas, you can see for yourself what is available. If you would like to meet with Jennifer Manchester to discuss buying or selling your home in the greater Charlotte, Matthews, Mint Hill area visit her at www.JenniferManchester.com to schedule an appointment today!
This article was written by: Jennifer Manchester. If you want to learn more about Staging your Charlotte, NC home to sell contact Jennifer Manchester at www.JenniferManchester.com and make an appointment to give your home a competitive edge and use the ultimate home seller's marketing tool to beat out your competition and get your home sold faster.
If you would like to search homes for sale in Charlotte, NC or search homes for sale in Matthews, NC or search homes for sale in Mint Hill, NC and surrounding areas, you can see for yourself what is available. If you would like to meet with Jennifer Manchester to discuss buying or selling your home in the greater Charlotte, Matthews, Mint Hill area visit her at www.JenniferManchester.com to schedule an appointment today!