This Pullman Washington Realtor's® View of Real Estate Agency

 

 

As a Realtor® in Pullman WA, I personally have chosen not to represent both a buyer and a seller on the same transaction which is known as dual agency.  

It is a conversation I have with my clients when we first discuss the Law of Real Estate Agency at our first meeting, whether it for a buyer when we begin the house hunting process, or a seller at a listing presentation.

 It is a decision I made when I first started in the Real Estate business, and one I continue to hold to.  Some agents I know feel differently, but it is one I strongly adhere to, and one my clients  appreciate.  


And if I should happen to procur the buyer for one of my listings, I have a provisional plan set into place with my
 sellers and my buyers.  Because of the intense on line marketing that I use, it is not uncommon for me to have someone call and desire to see my listings.  And because I do the very best I can to make my seller's houses stand out, it is often a home they might consider making their home.


Again, this is a matter of choice for the agent and the client, but again and again in today's market place, I again and again see the necessity on practicing single agency rather than dual agency.  

 

Agents today are  like lightning rods during difficulties that do typically arise during a real estate transaction.  And a lot of what real estate agents, do is behind the scenes to keep eveyone calm, cool and collected during a rather heated time in our clients lives.  Sellers often feel frustration over losing value in their homes in the last few years. Add to that  the fact that the buyers today are quite aggessive.  Buyers also face frustrations too, typically with the financing process.  And both are dealing with two important basic needs of man, their need for shelter and their financial means.   And between all those frustrations is the agent who acts like a lightning rod, attempting to ground all this electricity flying through the air and a firewall between parties.  


I guess everyone has their measure of success when the transaction is over, but for me it is sitting at the closing table with my client and watching them sign the documents.  Or the joy of watching one of my clients children show me their new room as one client's children did earlier this week.  Or like last night,one of my sellers came into to sign contracts bringing their precious little girl that I have watched grow since they purchased a home with me previously....to me that is the measure of my success....

 



If you are not already working with an agent, and have any questions about agency or the role of a real estate agent in your transaction, I would be happy to answer your questions.  Feel free to call me.  

Comment balloon 6 commentsLori Churchill Cofer • June 17 2011 11:52AM

Comments

Lori, duel agency is a dangerous proposition and is a standard of practice that I also avoid at all costs. It's just not worth it to me. I feel a loyalty and a need to sell my Seller's home and even I can find myself becomming more excited about it than the other homes. I also have a plan and my Buyer's are fully aware of it before we go in. Great post!

Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) over 6 years ago

In all my years of practicing real estate, I've only done dual agency once, and that was for a small piece of vacant land back in Kansas, and I knew both clients well. Everything went just fine. But like you, I won't play both sides of the fence. It's just not worth it...I'll usually maintain my statutory relationship with however I was obligated to first, and refer out the other client...

Posted by Rich Jacobson, Your Kitsap County WA Real Estate Broker (The Sound Realty Team - KW West Sound) over 6 years ago

Lori  Your ananlogy is excellent - lighyning can kill and it is not healthy in a real estate transaction

Posted by Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS" (RE/MAX Executives) over 6 years ago

Hi Lori,

It was nice to meet you in person yesterday.

You have a very complete online presence!

I especially like the link to other informative posts you have done.

Phil

Posted by Phil Leng, Phil Leng - Retired (Retired) over 6 years ago

Lori, dual agency is a risky business. Love your anaolgy to lightening. Best to say clear.

Posted by Robin Scott, Broker, CRS, ABR, SRS, REALTOR® - Austin Texas (Robin Scott, REALTOR®) about 6 years ago

Deb - Thanks for commenting.  Having a well thought out plan is truly very important.

Rich - Lovely meeting you and discussing this first hand.  You so right with respect to the statuatory relationship.

Karen - Thank you! 

Phil - It was lovely to meet you as well.  I will head over and check out your blog as well.

Robin - Very true!

Posted by Lori Churchill Cofer, Realtor - 509-330-0086 - Pullman, WA (Beasley Realty) about 6 years ago

This blog does not allow anonymous comments