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Part Two

you really need their help. You’ve got questions on price, terms, inspections, seller accountabilities, due diligence, finance options, risks, competing buyers, neighborhood information and more. Most of all, you want the transaction arranged to benefit you on all the negotiated issues. However, the seller is also represented by the same broker or brokerage, and that real estate brokerage has those same duties to be an advocate for the seller’s benefit. How can the agency serve two masters? Consider just the issue of price alone. How is your broker going to argue for your lower price objectives and the seller’s higher price objectives at the same time? What would your advice sound like from your broker when you are the buyer? Would it be, “At $400,000, this house is priced high. I wouldn’t offer more than $350,000 for it.” And then, when presenting the offer to the seller, for whom the broker is also to advocate on behalf of, they say, “This offer is ridiculously low. I’d counter around $395,000.” Seems rather ridiculous, doesn’t it? What would more likely happen is the broker would give no advice to either side and simply say, “You decide.” Suppose the broker thought of the seller as an old friend and thought of the buyer as a stranger. Where would that leave the buyer? Recognizing this, in New Mexico, the dual broker and brokerage will act as a facilitator between the buyer and seller and will not disclose confidential information of one party to the other and will provide information on an equal basis to assist the buyer and the seller in negotiating on their own behalf.

There Are Advantages to Dual Agency As much as we feel dual agency is harmful to consumers, it does have some advantages. If you are dealing with only one firm, and especially if there is only one individual broker involved, your lines of communication are shorter. For example, if you ask your broker a question 46

Profile for Linda DeVlieg Real Estate

How to Make Your REALTOR Get You the Best Deal - Albuquerque, New Mexico edition  

A guide through the real estate purchasing process - co-authored by Linda DeVlieg and Ken Deshaies

How to Make Your REALTOR Get You the Best Deal - Albuquerque, New Mexico edition  

A guide through the real estate purchasing process - co-authored by Linda DeVlieg and Ken Deshaies

Profile for lindadev