4,485,686
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
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Lynnea Miller
Bend, OR
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Kathleen Daniels, Prob...
San Jose, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Gloria Valvasori, Accr...
Mississauga, ON
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Michael Jacobs
Pasadena, CA
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Inna Ivchenko
Encino, CA
2,684,769
Give the buyer/customer a non-representation notice, and honor the fiduciary you have with your Seller/client.
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Lynnea Miller
Bend, OR
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Buzz Mackintosh
Frederick, MD
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Eve Alexander
Tampa, FL
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Carol Williams
Wenatchee, WA
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Praful Thakkar
Burlington, MA
577,750
I have done it many times very successfully... You do not disclose any confidential informatio to either side and treat everyone fairly and honestly.
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Carol Williams
Wenatchee, WA
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Debe Maxwell, CRS
Charlotte, NC
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Silvia Dukes PA, Broke...
Spring Hill, FL
5,117,178
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.
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Peter Testa
Danbury, CT
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Michael Jacobs
Pasadena, CA
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Buzz Mackintosh
Frederick, MD
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Fred Griffin Florida R...
Tallahassee, FL
3,416,038
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
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Michael Jacobs
Pasadena, CA
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Buzz Mackintosh
Frederick, MD
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Susan Haughton
Alexandria, VA
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Debe Maxwell, CRS
Charlotte, NC
4,584,596
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.
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Peter Testa
Danbury, CT
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Buzz Mackintosh
Frederick, MD
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Kathleen Daniels, Prob...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
634,125
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.
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Buzz Mackintosh
Frederick, MD
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
431,162
Refer it to another agent so you get a referral fee, and keep the best interest of each client is best represented.
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Buzz Mackintosh
Frederick, MD
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
717,185
We have done this many times with great success - even with multiple offer scenarios.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Endre Barath, Jr.
Beverly Hills, CA
2,163,483
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.
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
140,560
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.
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Michael Jacobs
Pasadena, CA
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Silvia Dukes PA, Broke...
Spring Hill, FL
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Debe Maxwell, CRS
Charlotte, NC
1,030,670
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.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
519,324
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.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,625,641
Yes. Never had any issues.
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Buzz Mackintosh
Frederick, MD
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
5,258,996
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).
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Peter Testa
Danbury, CT
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Buzz Mackintosh
Frederick, MD
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Michael Jacobs
Pasadena, CA
2,222,281
760,035
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.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
2,195,834
No advice & counsel
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
5,246,568
Make sure both parties understand your position. Then suggest a referral. Only then proceed forward.
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
4,907,547
Dual agency is not allowed in Texas. If a broker represents both parties we must do so as an intermediary.
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
914,208
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.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,525,616
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.
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Michael Jacobs
Pasadena, CA
5,879,826
Colorado does not offer dual agency relationships.
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Michael Jacobs
Pasadena, CA
3,986,308
Yes, I do one side at a time and explain the good and bad for both clients.
20+ years and no complaints
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Michael Jacobs
Pasadena, CA
766,969
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.
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Michael Jacobs
Pasadena, CA
3,988,013
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.
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Michael Jacobs
Pasadena, CA
6,426,155
Everything is Win/Win, but the last time i was in a dual agency situation I was the buyer.
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Michael Jacobs
Pasadena, CA
4,434,177
2,785,606
For those that know how to navigate through this...its easy-peasy
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Michael Jacobs
Pasadena, CA
5,583,328
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.....
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Michael Jacobs
Pasadena, CA
3,350,764
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.
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Michael Jacobs
Pasadena, CA
4,800,132
It's your call. I have never negotiated with the buyer as far as commission goes. I have with the seller.
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Michael Jacobs
Pasadena, CA
3,071,589
5,773,367
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
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Michael Jacobs
Pasadena, CA
1,728,867
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.
716,809
Absolutely. And proceed with care. Dual agency is great IF and only IF you do it right.
648,525
many times with no problems and agree with most of what Richard L. McKinney P.A. said.