★ ★ ★ ★ ★
A big THANK YOU to all my clients who took the time to evaluate my services and submit their evaluations to Five Star Professional, a company that awards recognition to real estate brokers who provide exceptional service.
Here’s an excerpt from the letter I just received from Five Star Professional notifying me of the award.
“We are pleased to inform you that you have been named a 2013 Five Star Real Estate Agent. Congratulations on reaching a level of excellence achieved by fewer than 7 percent of the real estate agents in your area.
You are being recognized by the largest and most widely published real estate agent award program in North America. Your selection is the result of a rigorous research process that included a regulatory and consumer complaint review, and an evaluation of objective criteria associated with real estate agents who provide quality services to their clients. You are receiving an honor that reflects your hard work and dedication.”
I hope you will forgive my “horn blowing”, but I love my work and am proud that my clients rate my services so highly. I strive to go above and beyond what is expected of me for each and every one of my clients.
If you’d like me to work for you, please give me a call/text/e-mail, or just comment on this post.
Dual agency is the practice of allowing one real estate agent to represent both the seller and the buyer in a single transaction. My advice as a full-time broker? Don’t do it.
I feel very strongly that the only person who benefits from dual agency is the agent. S/he gets to keep both “sides” of the commission. Even if the agent reduces the commission, they still benefit financially — significantly — while the clients lose the sole representation to which they are entitled. How will you know if the amount you saved in commission is more than, or less than the amount you might have saved by having your own agent? You won’t.
Hiring a dual agent is akin to going to court with someone else’s lawyer.
Your agent’s job is to negotiate the best possible terms for you. How can your agent accomplish that objective if his/her loyalties are split? By definition, a single broker can’t get “the best” deal for two separate clients. The best s/he can do is get a “fair” deal for both clients—i.e. neither one comes out better than the other. If you and the other party are both satisfied with that kind of limited and lesser representation, then there is no problem.
Still not convinced that dual agency is a bad idea? Consider this, in many states it isn’t even legal. In this state, brokers are required to provide clients with a 7-page pamphlet explaining the nature of dual agency. Why would that be necessary if there weren’t the potential for significantly negative outcomes for the consumer?
You may be wondering, what do I, as a real estate broker, have to gain by warning you about the pitfalls of dual agency? Absolutely nothing.