Dumb question - if I went in to one of these situations and offered the dual agent 3.5% to complete (or something very low) would they go for it, in general? Getting all 6% is absurd in this kind of situation.Only about 8 or 9 states either heavily restrict or outlaw dual agency. I think it should be all 50 states.Had a realtor we liked. Bought and sold two homes with him. On our third sale, he held an open house, and a guy showed up with no agent, and our agent ended up schmoozing him enough that the guy was ready to make an offer. With the guy having no agent, our agent offered to be his agent. Our agent called us and informed us he was going to be acting as a dual agent. We kindly told him to go **** off, but were still stuck with using him as our selling agent because of our contract.
It really soured me on him. He tried to convince us that he would be acting in out best interest, but when pressed, he admitted that he also would told the buyer that he would be acting in his best interest. When asked how that could possibly work, he gave some ******** answer about how he would find agreeable terms for both. I told him it sounded like he was acting in only his own best interest and not either buyer or seller. He got all huffy and hung up on me. Called back later and said that the potential buyer backed out anyway, so he was just out agent now.
Haven't talked to that sleezeball in years.
The only positive of it is to the RE agent so they can get both sides of the deal. A RE agent I talked to recently told me that there is only one reason to do open houses and one reason only- gain buyer clients.