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What does the title of this post have to do with real estate? Well, quite a bit.
I’ll come right to the point. I do NOT double end ‘deals.’ I say this each time I go to a listing appointment. And most every real estate agent in town knows I say this.
Double ending refers to getting paid to represent BOTH the Buyer and the Seller. In my humble opinion, one or both of the clients usually feel burned or get seething mad. And then at best I would lose both clients because they’ve thought about it and are so pissed off and then they tell their families and friends OR at the worst I’d be facing a lawsuit.
This is called a dual agency. But there has recently been a court case in 2016 that deals with the ramifications of that. So I need to explain that:
1. one agent can represent both the buyer and the seller.
2. one company can represent both the buyer and the seller.
3. the same company, in different locations, can represent the buyer and the seller.
The big deal here was a rather significant descrepancy about the square footage of the home (promoted as 15000 sf on the marketing flier, vs 11050 sf on the permit history which was pulled a year and a half later by the buyer, after the property closed).
If the agents are from the same company, there can still be a dual agency..but one agent is repping one party, the other agent is repping the other party. There’s a lot more protection for the consumer in item 2 or 3 above.
Here’s a link to a Mercury News article that was published recently regarding this case.
I really like working to help folks solve their real estate problems. It is not worth it to me to carry the full commission or discount the commission because I’d be repping both parties. I want to continue to assist folks with their real estate sales/purchases.
Double or nothing? I know plenty of agents who have no issues with this, until they do. If I was a consumer would I want to do biz with that agent/broker? Ah, no. What other items would the person be ripping me off about?
In CA we need to assume the consumer doesn’t know too much about real estate. Thus we need to explain, explain, explain.
Making less means more biz to me in the long run. Like my CA registered trademark says “Results Exceeding the Challenges.”
Questions? give a text, call, email, or send me smoke signal.
Alameda Real Estate this Week
Broker Tour Tues 12 w/ 2 repeats (the expensive on at 1835 San Jose and the one on Lincoln).
Alameda Real Estate Awards this Week
NONE! I’m taking 5 weeks worth of writing webinars during the broker tour on Tues. These webinars make me happy, but I’m also sad that I don’t get out and see the properties. Who knew it would be this busy early in the year….lots of questions, and lots of prep.
Enjoy the no-rain weather! It’s beautiful outside and I’m glad to say that, yesterday and today, I didn’t even open my car door. Rode my bike everywhere I needed to be! Yippee! Finally!