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Whats your take on this

I have been reading about dual agents and the true definitions of them...
heres the scenario,
I dont have a realtor, I drive by a home see the sign call the number speak to the agent, agent asks if i have realtor, i say no I give basic info express my intereset to view interior...
agent makes arrangemet for me to view, agent is not present current renter allows me to look
I love the place am interested , call agent tell agent this and also that I am having an agent come to my place to do a cma, agent is taken back expresses desire to be a dual, and mumbled something about although I didnt show you the property blah blah...agent said theyd be happy to come value my home etc, i explained i have already done business with the one i am having come over... etc
heres my questions
1) I have at this point hired NO ONE, verbally engaging is not hiring right????
2) Am I obligating myself to the cma realtor in any way ??? should I at all mention the house that I love ??
3) whats the liklihood this agent who wants sole custody will diregard any offer because they want to be the one and only??
How do I proceed to handle these agents, I swear this makes things so much more difficult than it should be, reminds me of union job classifications.
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September 28 2012 - US
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Answers (9)

just out of curiosity, do you have to sell your current home in order to purchase a new one?

If you do...then that's what you should be concentrating on....and......have you spoken to a mortgage rep?


If you al;ready knew an agent for the cma, why not have that agent show you homes?
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September 28 2012
Profile picture for user5683100
Hmmm good info more to think about, as far as the house having issues I can say with a lot of confidence I doubt there are any I know this property, its in my town, the asking price to me is high I'm no realtor but am always looking at houses listed online in our area this coming on the market is quite hard for me to believe, we were thinking about finally moving forward with an addition on our small house, and I drove by the for sale house I've been watching for YEARS, seems like kismet... hopefully it will be mine and as far as mls its not listed, I have my theories as to why
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September 28 2012
1: no
2a:no  2b:I would not
3: depends
Dual agency can be ok if the house has no issues, the parties trust each other and EVERYTHING that is possible has been disclosed.
In nearly all other cases dual agency can by a nightmare, at least for one party out of the three.
If I were you I would probably find a decent agent (ask a local title company, they deal with agents all day long and know who the ones are that close deals fast, efficiently and enganged), get a CMA and then make an offer, your own representation is a good thing.
Money on both sides is nice but more important is a clean reputation.
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September 28 2012
Profile picture for sunnyview
No problem with calling. I would call the listing agent and ask, but take the answer with a grain of salt. If they say yes that "are offers coming in", there is an "offer pending" or press you to make an offer quickly, then thank them, hang up and call another agent to check the MLS status.

I don't know where you live but in my area, I can search the MLS directly and houses that are pending or pending with back up show up with that notation. If you like this house and want to proceed further, I would see if you can interview to find your own agent for the buy side.
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September 28 2012
Profile picture for user5683100
So I have alot of info to chew through and stilla t this point realize my house is not on the market nor do I have a contract agreement on the other house, or any agent representing me (not sure what im doing there yet)and in the midst of all of this im wondering what if the house already has a contract...... is it unethical for me to contact listing agent to ask ???
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September 28 2012
You are in no way committed to any broker without a signed, legal contract in hand.  YOU are in the drivers seat, and you can use whomever you like until a contract comes into play.  

I would not only have the CMA agent come in to talk with you about your home value, but I would interview 2-3 others so that you get an idea of the professionalism and value each broker could give you.

In addition, dual agency is an area that can become very gray because the dual agent no longer is able to advocate on your behalf.  They become in a more truer sense a mediator, and that doesn't provide value for either party.  You want to have someone on your team who is looking out for your best interest at all times.  

Good luck with the process and make sure you do your homework to find a great agent!
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September 28 2012
Thanks for posting your question on Zillow.com!

First, having a Realtor over to do a CMA in no way, shape or form obligates you to use them.

Second, you did not sign any buyer contract with the listing agent of the property you wanted to see.  BUT, there is this thing called "procuring cause" which means the listing agent could make a case that it is because of him that you found the house and moved forward with an offer.  It is still early in the process so there should be no issue bringing your own buyer's agent on board.

Are you uncomfortable being in a dual agency situation?  I have been in some that would not have worked had I not been the dual agent.

You can tell the agent you would feel more comfortable with your own buyer's agent from a different brokerage and they have to respect that.

Best of luck.  If you need help finding a good buyers and/or seller's agent, let me know.  I can help.   
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September 28 2012
Profile picture for sunnyview
Be careful and choose your path intentionally. I am not a fan of dual agency unless you as the buyer are capable of playing your cards close the vest, knowledgeable about what is normal vs not in a transaction and/or are receiving a commission rebate making it worth taking the chance with a dual agent.

If you do not have a buyer's agent to look at houses upfront, the listing agent will end up being your agent if you write an offer unless you opt to hire another agent right after the first showing. If you are getting no rebate form the listing agent, that does not usually benefit you in any way. The agent that you hire to sell your house does not have to be the same agent that you use as a buyer's agent. Of course they would like both jobs, but not all listing agents make great buyer's agents.

You need to look at this as from a cost benefit perspective. You want the best representation on sale of your house and best purchase of your new one. Interview more than one agent for each job and choose the one that will get you there professionally. Outright ask the agent with the listing of the house you love if they will discount their commission and provide a rebate if you use them as a dual agent. If they won't, I would look to hiring an agent that is not related to the seller of the house you want to buy.

You are the client. It's your call to make. Make the call that will get you the best results.
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September 28 2012
Alright, speaking to a realtor and even touring a house with or without the realtor there gives you absolutely no obligation in any way to any realtor. For anything to be held against you in any way there has to be an agency agreement understood and signed. Your completely fine. If you have no interest in going with the realtor that wants to be "dual" you dont have to and it is his feduciary duty to give the seller any offers on the house. It is not in the code of ethics to discard an offer because the realtor doesnt like you. As far as the CMA goes, this also isnt obligating you to any one person either. To have a legal stance on who represents who,  you must have an agency agrrement signed. Since you have signed nothing it sounds like your free and in the clear to do what you want. Choose wisely :)

Hope that helps!
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September 28 2012
 
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