Mint Hill, NC Real Estate Agent and Home Stager: To Dual or Not to Dual?

To Dual or Not to Dual?

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.

Dual Agent

 

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.

 

Exclusive Agency

 

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!

 

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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!

Comment balloon 6 commentsJennifer Manchester • May 02 2011 10:20AM

Comments

The first time I dealt with both sides of the sale was very interesting. Afterwords, I ask the Seller how she felt about the transaction. She told me that having LESS people involved with the transaction made it a lot easier and faster.

Posted by Kathy Denworth, Realtor in the Florida Keys, Islamorada, Key Largo (Century 21 Schwartz Realty) over 6 years ago

I don't particularly like dual agency but being a sole proprietor I deal with it...I have thought about referring out buyers calling on my listings but that certainly is giving away lots of business when dual agency is perfectly legal although not perfect.

Posted by Dennis Duvernay Broker/Owner (Hillview Realty) over 6 years ago

We don't have dual agency here in Jacksonville, FL - we do have transaction brokerage representation which is similar, and requires disclosure, even though it is now considered the "norm".

Posted by Carol Zingone, Global Realtor in Jax Beach, FL - ABR, CRS, CIPS (Berkshire Hathaway Home Services Florida Network Realty) over 6 years ago

If all parties are well informed and understand their roles and responsibilities, Dual Agency can work.  You are neither working exclusively in their best interest, nor against their best interests.  THEY are working exclusively in their best interest and telling you how to accomplish that.

Posted by Daniel H. Fisher, MCRP - Charlotte Real Estate, NC or SC (www.FisherHermanRealty.com (704) 617-3544) over 6 years ago

Thanks for the comments.  I know most agents have a preference to act as a dual or not.  It should be interesting to see where everyone falls.

Posted by Jennifer Manchester, GRI, ePRO, ASP - Broker/Home Stager (Suburban Properties of Charlotte, LLC ) over 6 years ago

As a lender, I don't have to deal with dual agency.  When I was a Realtor many years ago, it was more routine but I can see how it has become more of a problem to work for both sides at the same time.

Posted by Doug Bullwinkel, NMLS #281609 (Academy Mortgage Group) over 6 years ago

Participate