All Topics > Real Estate Resources > Dealing With Dual Real Estate Agents >

Dealing With Dual Real Estate Agents Michigan

Historically, real estate agents have represented the seller of a property. The seller, after all, is usually the one who pays their commission, and agents therefore have a fiduciary relationship with the seller.

Local Companies

www.crowleyrealestatesolutions.com
734-444-8990
9911 shadyside
Livonia, MI

Century 21 McCoy Real Estate
231-218-7817
PO Box 456
Suttons Bay, MI

Safer Homes LLC
517-639-3935
919 Ely Rd
Quincy, MI

Apple Realty West
231-578-3687
4405 Apple Ave
Muskegon, MI

Coldwell Banker
616-355-6305
466 E. 16th st
Holland, MI

Tom Frame - Kalvan Realty
(269) 580-2259
226 Monroe Street
Bangor, MI

Coldwell Banker Woodland Schmidt
616-355-6305
466 E. 16th st.
Holland, MI

Tomie Raines Inc
517-242-1897
1400 Abbott Rd
East Lansing, MI

Turning Point Buyers Realty
616-990-0004
Please call for a personal appointment
Grand Rapids, MI

Re/Max New trend
248-988-8888 X 223
122 Concord Road
Bloomfield Hills, MI

More recent trends have introduced buyer's agents, who usually work on a fee basis exclusively for the buyer, and dual agents. Dual agents represent both seller and buyer, particularly in cases where the agent's company is the listing company. Dual agency is legal in most U.S. states; however, most consumer advocacy organizations recommend against using a dual agent. This is because there is an inherit conflict of interest for the agent - they receive a commission based on the selling price of the property. The higher the price, the higher their commission, so their reasoning is that dual agents never really have the buyer's best interests at heart.

If you've decided to work with a dual agent, this will need to be disclosed to both the buyer and seller, and they both have to agree, in writing. Dual agents are bound by law and ethics to treat both buyers and sellers honestly, equally, and fairly. Dual agents can be prevented from divulging confidential information about each party to the other. This could severely harm negotiating positions.

The bottom line in dealing with a dual agent is to remember that the buyer and seller have conflicting interests in the price and other terms of the sale. It's very difficult for an agent to truly and equally represent both parties, since the conflicting interests make that inherently impossible. If you do choose to use a dual agent, be sure the exact nature of your relationship with the dual agent is clear, know what services the agent will be performing for you during the transaction, how the agent will be paid, and how any conflicts that arise will be handled.

About the Author:

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

Article Source:

thePhantomWriters Article Submission Service

Featured Local Company

www.crowleyrealestatesolutions.com

734-444-8990
9911 shadyside
Livonia, MI

Read more about Dealing With Dual Real Estate Agents

- Step 4: Finding a Real Estate Agent Michigan

When buying a home, it's helpful to have a real estate agent who will keep the process running smoothly.

- Discounters Vs. Full Fee Vs. Flexible Fee Real Estate Agents Michigan
- Real Estate And Marketing; Part 1 Michigan
- Do You Need a Real Estate Agent to Sell Your House? Michigan
- Who's Who in a Real Estate Deal Michigan
- Things Real Estate Agent Need To Know Michigan
- Buying or Selling a Home in a Slow Market Michigan
- How Real Estate Agents Get Paid Michigan
- How dual agency works Michigan
- How To Find Real Estate Agent Michigan

Regional Articles

- How To Find Real Estate Agent Michigan

It's easy to find a real estate agent. Just put a for sale sign in the yard and wait for the phone to ring. The question is, how do you find a good real estate agent.

- Buying or Selling a Home in a Slow Market Michigan
- Discounters Vs. Full Fee Vs. Flexible Fee Real Estate Agents Michigan
- Do You Need a Real Estate Agent to Sell Your House? Michigan
- Step 4: Finding a Real Estate Agent Michigan
- Things Real Estate Agent Need To Know Michigan
- How dual agency works Michigan
- Real Estate And Marketing; Part 1 Michigan
- How Real Estate Agents Get Paid Michigan
- Who's Who in a Real Estate Deal Michigan

Advertising	Food & Beverage	Nightlife
Business Services	Franchise	Online Database
Career	Health	Pets
Cars	Holidays	Real Estate Resources
Computer Hardware	Home Appliances	Retail & Consumer Services
Construction	Home Electronics	Software
Education	Home Services	Technology
Entertainment	Industrial Goods & Services	Telecommunications
Environmental	Insurance	Trade Shows
Family	Internet	Travel
Fashion	Legal	Weddings
Financial Services	Miscellaneous	World History

Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History