Dual Agency is a conflictive relationship that strips buyers and sellers of service to a level that can best be described as abandonment. Dual agency arises when the real estate broker is representing both the buyer and the seller. It is illegal in every other fiduciary profession except under the most extreme circumstances. It is routinely practiced in residential real estate where there is the least amount of training. When a real estate broker engages in dual agency they may not work to the advantage or the detriment of the buyer or seller. In other words, all the reasons you hired your broker vanish – often with little warning.
Dual agents are legally prevented from negotiating price or terms (two of the most important reasons consumers hire Realtors). And perhaps the biggest problem with this betrayal is that it usually presents itself with little warning to the client – it is a bait and switch. The broker could be acting in the client’s best interests all the way up to finding the house that creates a dual agency. At that point the buyer or seller are on their own.
In a dual agency, brokers don’t have to share the commission with other brokers so they make twice as much money. They profit greatly from this practice. Realtors, who typically have no understanding of the legal ramifications of their own fiduciary relationship with their clients, often illegally counsel their clients of the so-called “benefits” of dual agency. We’re here to tell you that there are NO benefits and that you should NEVER agree to dual agency. Find a small brokerage firm with highly qualified real estate agents and demand that they not engage in dual agency. The likelihood of dual agency arising with a smaller firm is far less than with a large firm. FOR A MORE DETAILED EXPLANATION CLICK HERE.
There is several things to consider when buying property and/or moving to a new place, the information below is provided to you in order to help you make confident and competent decisions. Planning to move to a new place can seem like a daunting task, however, these tips can help you with your planning and decisions. We are confident that this information will make your relocation experience much easier and more productive. Enjoy, and please don’t hesitate to contact us with your questions and comments…read more
Relocation Specialists is an exceptional concept in real estate service. We take the time to provide you with the highest standard of care and professionalism available, with emphasis on integrity, honesty, and personal attention! Why take the risk, when you can have someone on your side, looking out for your interests and helping make your relocation efforts easier, at no extra cost! Moving to Prescott Arizona doesn’t have to be a chore, let us show you the difference buyer representation can make. Your interests may be Prescott homes, Prescott business or possibly Prescott investments, reasearch, search and acquire just what you need to fit your needs and wants. Check out our property search feature on our website, there is no registration and we are confident that our great resources and professional service will prove to be a good choice for you. Check us out first! We can save you time, money and hassle.
Get Pre-Qualified, remember, always consult a Mortgage Broker or a Lender of your choice before you start to look for property to purchase. Why is this a good idea? Including this activity as step #1, will allow you to find out what loan products are available to you, as well as how much you can borrow. Keep in mind that you don’t have to borrow the full amount as to what you qualify for, you should pick a loan amount, for your search criteria, based on your budget, ie; the monthly payment you desire to pay, (a good mortgage broker can help you with this, and it’s just a phone call away). This painless procedure will help you, not only, structure the best offer, when you find a property of interest, but it will help your search for real estate in Prescott Arizona to be more efficient, which can save you time and money. Besides, who wants to suffer the disappointment that follows missing out on a good deal.
There is a lot of good deals currently out there and following this simple, free, procedure will give you the best chance as to take advantage of the opportunities in today’s market.
Be Kind to Yourself…a little information and planning ahead of time can really make huge difference, allowing you to create a high performance effort to acquire your goals, needs and wants.
For Property Search Click Here