The Real Estate Attorney Says that Dual Agency is Illegal and Unethical ?
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What Does this mean to the Real Estate Consumer?
If Dual Agency is Illegal, so What. If the REALTORS stop using Dual Agency So What, this will NOT benefit you directly - it will simply make the naysays feel good that both sides have illusionary representation.
If this happens across the board then your service will be even worse.
No Dual Agency = Bad for YOU.
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2 Agents Same office giving you Individual "special" representation
Bull - Lies - Illusions NOT Protection for YOU.
The Solutions to the Real Estate Industry Mess - SHOULD Begin with making Realtors accountable for the lies they tell, really accountable – make them pay for what the Consumer Lost. Ther is no way to make the Realtors who fail to disclose and mislead consumers to really pay to make that consumer whole (financially anyway). The E and O Insurance System in place and some even mandatory is NOT intended to protect the real estate Consumer.
Sure there is lots of room for corruption and manipulation in Dual Agency and Yes Laws Need to Be Changed, However, you the Consumer is trying to navigate the Real World RIGHT NOW and not what it could be or may in the future. And in the Real World of Real Estate Today there is a Better Advantage for the Real Estate Consumer if you Work with the Listing Agent – this is the Plain Facts. This is What you NEED to know.
If Real Estate Attorneys and Consumer Protection Groups do away with Dual Agency all together the Real Estate Consumer is in even more trouble then they are now.
They always told me that If I am the Broker Owner then ALL Listings are Mine. So if All listings are mine and I cannot SELL ANY of them then what kind of business am I running, not one to find Properties for Buyers to Buy and Sellers to Sell.
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But a business of managing people – so you – the Real Estate Consumer never get the best – you only get access to the Rookies that work for the Best Option for You. Because NO Dual Agency Laws ties the hands of the Real Estate Broker Owner so that they cannot list and Sell which is what they need to be doing, that is their job.
So much of Real Estate – the Real – Real Estate that we work in day to day is Illegal in some way – YET it keeps happening. They say Dual Agency is Illegal - they Say Realtors practice without a license - there is anti-trust issues... the Real Estate Game is a Mess and still oh so Lucrative.. Certainly NOT a bad living for ONE week of School to Learn How to Pass a Test..
Don’t Do Away with Dual Agencies – DO away with Realtors – there is NO need to have a Realtor in a Transaction BUT if you do have one let them, MAKE THEM do the job the Consumer Expects them to do. And take it from a Broker Owner, there is NO Way that you will get a better deal with a buyers agent JUST NO WAY.
There are inside tips, showings, the price bottom line, less drama and so much that can go in the buyers favor if they work with the listing agent. Plus the listing agent will know of other properties and well let’s just say a whole lot of inside tips and secrets that benefit the real estate consumer can be utilized ONLY with Dual Agency.
People seem to think that if both Buyer and Seller have their own Agent working for them that they are better protected, Before – During and After the Real Estate Transaction and in the Real World this is in NO Way True… Sorry.
STOP worrying about the Double Commission and worry about what is best for the Consumer. Real Estate is based on Insider Information, Greed, E and O insurance Flaws, No quality control over data and well is just a mess. The Whole system NEEDS to tumble down.
The Real Estate Consumer has No Use for Realtors, Remove them from the Picture – Dual Agency Is Not the Issue to Go After.
If Dual Agency Requires an Agent to be Neutral then YES no one works for either side, so NO More Realtors. Problem Solved. Getting Rid of Dual Agency – the Realtors will find another loophole… Easy Breezy…
It Would Be Great for the Agent, Eliminate Dual Agency and then I List Property and Go to the Beach. I don’t have to work on Selling it. I am Not looking for a buyer – that would lead in Dual Agency - and that would be Illegal. I am looking for a Realtor, to represent a Buyer and to Sell my Listing for Me… talk about asking for Trouble – Drama – Manipulation – Mind Games and Turning over your Check Book. Why HIRE the Realtor to sit on their butts or for them to HIRE another Realtors.... ???
Is it NOT the Windfall that your Agent Gets out
of Dual Agency that you Need to Be Concerned With.
Some Believe that “In principle and practice, Dual Agency, also known as Designated Agency, when practiced by agents in the same firm should be legal and ethical.”. What a Crock this is. If I am the Broker Owner and I Legally Own ALL listings, and my Firm not only owns these Listings but makes money from these listings ON BOTH sides of the transaction then ho wcan 2 different agents in the same firm give a Buyer and Seller Honest Representation. Anyone who has convinced the real estate consumer that this is true is seriously mis-informed.
There is still SERIOUS room for the Broker Owner to be biased or do all the things those who had dual agency complain about and EVEN in a Bigger way.
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If the folks who say this believe the for one minute that A Broker Owner, Does Not Control – over see or influence their agents then they are mistaken. First of all it is the Law that We Supervise Our Agents So we MAKE the Policy – We make the Agents follow the Policy and We as Broker Owners are Dual Agents Even if
The Broker Owner Has the Listings, they OWN the Firm.. the broker Owner Has the Clients and having 2 agents in the Same Firm that Work for the Same Broker.. is Not a Way to Protect the Real Estate Consumer but Yet another way to even deeper mis-lead the Real Estate Consumer. Ha Ha, you are led to believe that You are Actually Protected if I Delegate 2 Different Agent is My Real Estate Firm that do what I tell them to do,
Single Agent Dual Agency is No way WORSE then 2 Agents from the "same firm" representing YOU.. whoever is telling you this does not know what really can and does go on behind the closed doors of your real estate transaction. I am a Broker Owner and I don't see how 2 of My Agents Can Represent you any better then Me - Myself in a Single Agent Dual Agency Relationship. I Own the Listings, I am responsible for the Agents, I make the Decisions so there Truly is no Real "Designated Agency" or in house representation that is truly beneficial to each side separate.
Some say That it is Best if the Seller has their Own Agent and the Buyer has their Own Agent and that it is Ok if Both of these Agents are in the Same Firm, Owned by the Same Broker Owner and these same folks want YOU to believe that this is In Your Best Interest.
But these same folks tell me, as a Broker Owner that I own and Am Responsible for My Agents - all their Actions - the Listings and the Liabilities - so the Broker Really Calls the Shots Right? No Real UnBiased Dual Agency in that PERIOD...
“Designated agent” or “designated representative” means a licensee who has been assigned by a principal or supervising broker to represent a client when a different client is also represented by such principal or broker in the same transaction."
Folks can
yap and yammer in Theory all they want, But in the real world the Broker Owner can influence the deal and inner office friendships - affiliations - gossip - eavesdropping - fax spying - secretary favorits and payoffs do affect the Illusion and the Dream that you can actually have an unbiased agent desiginated to represent you in a way that truly is beneficial to you, the Real Estate Consumer.
Some Folks think that a Good Replacement for Dual Agency is “Unrepresented buyer”. For Those Folks I Say this to the Real Estate Consumer, if you are an “Unrepresented buyer” then why is the Realtor Getting PAID for doing a JOB that they Do NOT really Do. If you are Unrepresented then DO not Use a Realtor. You are NOT protected with Buyer’s Agency, Dual Agency, Statutory Agency, “Unrepresented buyer” Agency or any of those misleading Consumer Protection and Consumer Services that REALTOR wants you to believe that you need.
Buyers WANT to BUYER – Sellers Want to Sell.
Stop USING a Realtor in Your Real Estate Transaction and Cut Out ALL of the Drama and most of the Fraud – misleading activities – failure to disclose –
flat out lies – forms that protect Realtors and really on and on.
Will Taking Away Dual Agency DO ANYTHING for Bring Ethics Back into the Real Estate Transaction... tee hee - ha ha - that was a Good One.. NO WAY..
Until YOU know the Truth About the Real Estate
Industry and What it is Like Being a Real Estate Broker Owner
within the limits of REALTOR - NAR then how can you go about
"trying" to create change. CHANGE will Only Come to the Real Estate
Industry with Accountability..
real estate fraud
This Blog and My Members only Blog at
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This information is WHAT I have seen in the Real Estate Industry that really does hurt the Real Estate Consumer - it is Not up for Debate on whether it is TRUE.. for Me and My Experience as a Broker Owner and What I Experienced when I was a "Realtor" a Member of the National Association of Realtors IT IS TRUE.. It is What I Saw from My Point of View - from My Perspective.
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Some Will Choose to Stay in the Dark and Let
Realtors Decide What is Best for them and Make Lots of
Money while they Do it -that's Fine -
We ALL Love to Make Easy Money..
