The Dual Agency Mythology

This morning brought the NAR-required quadrennial review of the Code of Ethics, a multi-page, multi-article creation that, at the end of the day, says we’re supposed to do right by our clients and play nicely with others. This particular COE class was intertwined with a course on agency – the concept of real estate licensees […]

Why Your Real Estate Agent Fails at His Job 9 Times Out of 10

This is what happens when you find yourself parsing sentences at well past 11 p.m. in the evening … Continuing the line of thought from Tuesday’s post, here is the basic premise on which the argument against dual agency – the act of one real estate agent representing both buyer and seller in the same […]

A (Limited) Defense of Dual Agency

Just when I thought I was out, they pull me back in … Here is a little known fact about the great big world of real estate blogs – there only are 14 topics to discuss, 15 if you live in an area with that odd atmospheric phenomenon known as humidity. As such, real estate […]

As Is Really Means As Was

There are moments in the process of helping buyers purchase Phoenix bank owned homes that I pity those trying to do this themselves. It’s difficult enough to do when you know the nuances of the contract and spend your time trying to explain them; I can’t even imagine what it’s like when you don’t know […]

If You’re Working With an Agent, the Agent Needs to Show You Homes

I pulled this comment out of a post on Redfin’s blog yesterday. The post was about an idea a friend of Glenn’s had for a web-based lockbox anyone could access with sufficient documentation … everything just short of DNA testing. The comment wasn’t. “What really needs to be done is to force a seller’s agent […]

Divorce May Be The Answer

In his vivisection of Redfin’s so-called Bill of Rights yesterday, Greg stated that many of the issues Redfin raised could be solved through the divorcing of the real estate commission from the transaction – in short, sellers pay their listing agent and buyers pay their buyers’ agent. Under the current system, sellers pay both agents […]

Fixing the Real Estate Model … Can it Be Done?

One of these days, I need to spend some time in an office meeting explaining how to comment on a blog. Even anonymously. Maybe then it wouldn’t seem like I’m in the midst of a one-man duel over the issue of commissions paid when an unrepresented buyer is involved. Here’s the basic issue at hand, […]

Unrepresented Buyer Follow-up

One quick follow-up item to yesterday’s question about whether a listing agent should claim the full commission if a fully capable unrepresented buyer wants to purchase one of his listings. 1) As was pointed out during my meeting yesterday, and rightly so, there is a myth in existence that buyers can find a better deal […]

Who’s Representing You on Your Purchase?

You see a home you like and call the listing agent for a showing. The agent asks if you’re currently working with another agent – if you are, they really are the ones who should show you the home. “No, no,” you say. “We read online we can get a better deal by calling the […]