1. Does the Agent (or the firm he/she works with) have any properties that are listed for sale?

If the answer to that question is "YES", Watch Out!

Disclosed Dual Agency

Ask Yourself this simple question to help you determine if the agent you are considering could be an "Disclosed Dual Agent or Intermediary”:

Confused?

Disclosed dual agent – There is no dual agency in Texas. Instead, Intermediary is allowed in Texas. Intermediary in Texas must be in writing and all parties give their informed consent. Disclosed Dual Agency as such, is when the buyer and seller are told that the agent is representing both of them. For instance, you called a listing agent’s firm and ask for information on one of their property listings. In this case the listing agent represents the seller. Consent is given by a seller within the listing agreement that disclosed dual agency or intermediary is allowed. The potential for conflicts of interest in a disclosed dual-agency relationship or intermediary is possible, it’s vital that all parties give their informed consent. Intermediary in Texas must be in writing. Disclosed Dual Agency, in which both the buyer and the seller are told that the agent is representing both of them, is legal in most states.

At Buyer Agents Realty, we only work with buyers.

More Confused?

In addition to Intermediary, Designated Agency (also called, among other things, appointed agency) is allowed in Texas. Designated Agency is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated Agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.

Managing brokers must manage their agents so your confidential information is strictly withheld with your designated agent and that your confidential information will not be overheard or accessed by agents not appointed to maintain the integrity of your privacy.

At Buyer Agents Realty, we only work with buyers as our clients. Your information stays confidential within our firm. Our entire team works for you to protect your best interest as our client.

You hire a buyer's agent and that agent becomes an intermediary agent for "in-house" listings. As a disclosed dual agent, they can not be an advocate for you! They can not negotiate for you 100% of the time! In most cases they can not suggest an offering price. In most cases they can not point out potential defects or problems. In most cases they can not provide you with information about the seller, such as motivation for selling, price they paid for the home, or how long or how many times the property has been on the market.

Get full client level services at all times for your money! Remember, you are paying the commissions of both agents because these are included in the price you are offering. Traditionally the seller writes the commission checks, but the buyer brings the money to closing to give to the seller that lets the seller write these checks in the first place! Make sure that at least one of the agents is truly working for your best interests!

 

 

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