Sequim real estate and dual agency.   More and more consumers are becoming aware of the potential and obvious conflict of interest when a Realtor represents both the seller and the buyer in the same transaction.   Is it legal?   Yes.   Can it be done?   Yes.   Is it a good idea in most cases?   No.

A recent lawsuit over the inherent conflict in dual agency was filed in Massachusetts by Josef Blumenfeld against his agent and the broker.

“The lawsuit contends that Mrs. Fabrizio violated the letter and spirit of the Dual Agency Agreement,” explained Mr. Blumenfeld. “Both the buyer and the seller of the house we bought in Natick were represented by Hunneman brokers. Under Massachusetts law G.L. Ch. 93A, Hunneman is obligated to treat both parties equally, not advancing the cause of one client to the detriment of the other. It is my contention that Mrs. Fabrizio saw the seller of the house that my wife and I wanted to purchase as a more valuable long-term client, and did all she could to ingratiate herself to him, forcing us to bear additional economic harm and expense.”

Enough said today on this subject.   Buying a home in Sequim or Port Angeles?   I would love to represent you as your exclusive buyer’s agent.   Twenty years as a real estate lawyer and now a broker, I will bring what you need to the table to negotiate the best price and terms.   Email me or call me at 360-775-5424.   I’m Sequim Buyer’s Agent Chuck Marunde.

Possibly Related Posts:

• Water View Home Sold
• Nevada to Sequim
• From California to Sequim
• Sequim Buyer’s Agent Chuck Marunde
• Buyer’s Agent: Buyer’s Consultant

Find a Sequim buyer’s agent, and you’ll substantially increase your probability of finding the ideal home and negotiating the best possible price.  This is true.   Wouldn’t you like to know from an insider’s perspective how a buyer could make the most of working with a Realtor?   It’s not quite what most people assume it is.   So here’s a little tip for buyers from California, Nevada, Arizona, and Texas (and elsewhere) who are planning to buy a home or land in Sequim or Port Angeles.

Finding a great Realtor certainly involves some due diligence on your part, and you can do so much research on the Internet now. That can help narrow down the short list of Realtors you may want to work with.   But I want to share something with you that you may never have read before.

If there is one thing that Realtors really wish they could convey to buyers from out of state, what would that one thing be?   A good way to answer this is with a real life example.   The following is part of an email I received from a client I’ve been communicating with for months via email.   We were about to meet after she scheduled an appointment.

First, apologies for canceling our last meeting. . . . I did end up in Port Angeles after all but only briefly.   I was able to meet up with another Realtor (only time for one) at [broker name deleted] who showed me a few properties.   She was very nice but I don’t think I will choose her as a buyer’s agent and am looking forward to meeting you and I will call you and set up an appointment.   I don’t mean to seem fickle, but I’m looking for an agent who will help us negotiate prices.

Perhaps just reading this email already broadcasts to you what concerns me.   This person and I have been emailing for months.   I’ve been responding promptly to her questions, and we’ve had some great exchanges.   She’s had an opportunity to review my blogs and websites, and she is aware of my experience, which includes 30 years in real estate, 20 of which was as a real estate lawyer, and now a full time Realtor and Broker.   I’ve negotiated hundreds of transactions.   She knows all of this.   So when I got her email, I was not surprised, but I was disappointed.   She clearly knew she was being fickle as she mentioned it herself.

Imagine someone making an appointment with a dentist after talking with him for months, canceling the day before by phone, and emailing the following day saying, “Sorry I had to cancel our appointment, but I had something come up.   I did get a chance to come to town briefly, and I met with a dentist just down the street from you.   I don’t think I’ll hire him either.   I’m looking for a good dentist.   I’ll call to reschedule our appointment.”   Or try the same line with an auto mechanic or your Chiropractor or any professional.   It will not go over well.

Selecting a Realtor is an important task, your first most important task in finding and buying your next home.   Do your due diligence by reviewing their online resumes of course, and interview them on the phone or in person if you have the opportunity.   That’s all good.   But don’t play one against another in such a way that shows disrespect.   A Realtor deserves to be treated like a professional.   Due your due diligence, and then hire one.   Respect the others by calling them and telling them you chose another Realtor and thank them for their time.   Hire one and work with that Realtor, and be committed to working with that Realtor.

This is the key to a successful and happy relationship with your Realtor from the beginning all the way through closing.   Believe me, as a Realtor I certainly will pour out my heart and soul for every client who makes a commitment to work exclusively with me as a buyer’s agent.   I don’t ask for much in return, but I do ask for loyalty and commitment.   That’s a two way street.

Possibly Related Posts:

• Water View Home Sold
• Nevada to Sequim
• From California to Sequim
• Sequim Buyer’s Agent Chuck Marunde
• Buyer’s Agent: Buyer’s Consultant

Sequim and Port Angeles Real Estate, LLC has uploaded gigabytes of real estate information for you all at absolutely no cost and no registration requirements.   Another Sequim video courtesy of Realtor Chuck Marunde.

Possibly Related Posts:

• Sequim Homes Sold
• Water View Home Sold
• Sequim Homes Selling
• Sequim Homes Sell Fast
• Nevada to Sequim

The way real estate is bought and sold is dramatically changing, and new business models are evolving in the brokerage business.   A hybrid is developing.   There are many reasons this is true, but  some of the reasons are related to how buyers find and purchase real estate and how buyers are represented.

Joel Stern found out the hard way about dual agency and the conflict that cost him a lot of stress and a wheel barrel of money.   The following is from an article that was published in the International Real Estate Digest by Pat Rioux.   I emailed with Joel about this, and there’s no question that this is a nightmare scenario you do not want to go through.

He only found out two weeks after his offer was accepted that she [his agent] was actually working for the seller on the home he chose to purchase. That is when his brother, a commercial real estate broker with over 40 years’ experience, reviewed his purchase contract and alerted Joel to the fact that Thomas had signed the disclosure form as the seller’s agent.

Joel thought he had a buyer’s agent but he then came to understand how he was initially told to bid $50k over asking price, paid $16K over asking price on a home listed by his buyer’s agent boss, put a $34K deposit in escrow that he cannot get back and waived his contingency to sell his own home first which was listed by his buyer’s agent boss.

For Joel, the cavalier attitude of the regulators, the industry, the media and consumer groups only aggravates his feelings about the lawsuit. He feels betrayed by what he perceives as a “wall of apathy” and thinks the real estate agents ignore or flout “rules regarding timely and accurate disclosure of their status thus depriving clients of honest and competent representation.”

Joel should not be expected to know about agency relationships and the need for an explanation of the agents’ roles in his transaction. The disclosure form must be provided by the agents. That is the law. The burden is on the agents to discuss the issue with consumers. Perhaps a lawsuit could have been avoided if Joel had been provided the necessary disclosures about the agent’s role in his real estate transaction.

I believe this is about   much more than just a written disclosure, although that certainly would have put Joel on notice.   I think a buyer needs his own agent, representing his interests and not the interests of the seller.   I strongly recommend all buyers find an agent they can trust to represent their interests.     Dual agency is a conflict, in my humble opinion.   Remember, too, experience in an agent does count.

There are many more reasons we are seeing new business models evolving for real estate brokers.   We’ll discuss more of these reasons and how consumers, especially buyers, are the main beneficiaries.

Possibly Related Posts:

• Water View Home Sold
• Nevada to Sequim
• From California to Sequim
• Sequim Buyer’s Agent Chuck Marunde
• Buyer’s Agent: Buyer’s Consultant

You’re on your computer in California, or maybe you’re in Arizona or Nevada right now looking at homes on the MLS in Sequim or Port Angeles.   “Darn it,” you say to your spousal unit.   “There are no photos of the back of the house or the rec room or the garage or shop in this MLS listing either.”   As your beloved multi-tasks from the kitchen, you hear this soft response, “Well, honey, we’ll just have to wait ’till we get there to see the rest of the house.”

I have good news for you.   You don’t have to wait until you get here to see more of that house or the property.   Email me or call me, and I’ll go take some additional photos for you.   I find that clients really appreciate being able to narrow down their search as long as they are fully informed, and that includes good photos of the whole house and property.

I love photography, so I try to capture good photos for my own clients, but let’s face it, most Realtors are not trained in photography or the use of software and the Internet to edit and upload good photos.   A look through the MLS and the photographs that are posted will quickly demonstrate that point.

I’m here as your Sequim Buyer’s Agent or your Port Angeles Buyer’s Agent to help you filter through the available homes in the inventory, so when you get here you don’t have to waste your valuable time looking at homes that simply don’t match your criteria.   Want more photos?   Let me know.   I’ll be glad to help.

Possibly Related Posts:

• Water View Home Sold
• Nevada to Sequim
• From California to Sequim
• Sequim Buyer’s Agent Chuck Marunde
• Buyer’s Agent: Buyer’s Consultant