"If you hire me as your LISTING Broker, my job is to get you the very best price for your home; if a buyer hires me as his BUYERS Broker, my job is to get him the very best price for your home."
It SOUNDS the same... but there are VERY DIFFERENT objectives, aren't there?
You'll never see a lawsuit with the SAME attorney representing BOTH sides of the case; it simply isn't done. You want your attorney to represent YOU, and not the other guy, too! How can you believe that one attorney can possibly be fighting for you, when he represents the other side as well?
You wouldn't put up with that, would you?
But in Arizona
, in regard to real estate transactions, the law allows ONE agent (one Broker) to represent BOTH sides of the transaction. It's calledLimited Representation
, or better known asDUAL AGENCY
It's perfectly legal, but doesn't it make you wonder
if you are really being represented fairly, aggressively, and do you feel you have your broker working for YOUR best interests? How can that be, if he is representing both sides of the transaction? It's legal here, but...
If one reads the law, there's a catch:
a real estate licensee (agent or broker) CAN
be a DUAL AGENT- representing both sides, however,that agent can NOT advise one party to the detriment of the other
. It is a very fine line to walk. If you want your agent's advice as to what price to list, what terms to require, and you want to know whatever you can find out about the Buyer, his goals, and his situation- your Dual Agent will NOT be legally able to advise you, because pretty much anything he may say to help YOU, would NOT help the Buyer. That's why Dual Agency is more correctly referred to as Limited Representation
Your Dual Agent can fill out the paperwork
with whatever YOU tell him to fill out, but he really can't advise you without compromising the other party- who he has also pledged to help. Does that make sense? Remember the attorneys above?
If an agent from one company lists your home for sale, and another agent from the SAME company represents a Buyer- then the law says that they are DUAL AGENTS.
It doesn't matter if they tell you that they only represent you
- the law says they AUTOMATICALLY represent BOTH parties, and MUST relegate themselves to pretty much just a facilitator or a "messenger boy
", because they can no longer legally give you their 100% effort to "fight for you".
But wait! There's more:
the law also says that they can NOT be a Dual Agent without your PRIOR
WRITTEN CONSENT. Interesting, yes?
So, if you would like to hire a Listing/Sellers' Broker- one who will represent you EXCLUSIVELY, advise you, and aggressively fight for YOU- then give me a call at WILDCAT COUNTRY REAL ESTATE.
You may find it a refreshing way to sell your home!
Michael J. Mulvena