Article Updated: 11/2016–Original post was written 11/2007 (some things never change, and my desire to provide the best representation for my clients is on the never-changing list).
Am I increasing my chances for encountering troubled waters when I “double pop” my listings? In my nearly 25 years as a Realtor in Palos Verdes, I have done it only a few times. Honestly, some of those dual agency transactions have been the easiest of my entire career, but I always enter them cautiously.
On the positive side first: There’s no blaming the other agent, or waiting for the other agent to send paperwork, complete inspections and meet other deadlines. Forget those emails and voicemails to beg and plead for missing document signatures. Time management benefits abound.
On the downside: There is no other agent to share the responsibility. The glory is all mine, as is the blame for all things great and small.
Important Steps to Avoid Roadblocks and Keep the Parties from Parting:
- Build Trust: I copy the buyer and seller on emails sent to either party (unless it contains financial or other proprietary information). They each receive the same weekly update. No favoritism.
- Share: Due Diligence should be more comprehensive and include city, tax, school, permits and building records. Red flags should be addressed immediately unless you want a court date later.
- Disclose It: If the neighbor’s dog barks at you when you hold an open house, disclose it. If the neighborhood is often foggy, disclose it. Ask the seller to over-disclose and expose all the dirty little secrets of his property’s past. Simply stated, confessions keep you out of court.
- Inspect It: A neutral third party opinion in writing regarding a suspected problem speaks volumes regarding your thoroughness.
- Document It: Every phone conversation, every meeting, every email, every time!
- Enjoy It!
Is it just me, or is selling your listing becoming more and more popular in today’s real estate market with its limited inventory and pocket listings? And, perhaps more important, is dual agency in the best of interest of both parties?
Norma Toering & Team
South Bay Los Angeles cities I sell real estate: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, Redondo Beach, Hermosa Beach and Manhattan Beach.