Spam prevention
Rainmaker
813,254
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yes, we have had conference calls where the principals and I were all present. Those were sophisticated parties, usually commercial/development deals.  I am present, throughout - taking copious notes.


I've also had less-than-adult parties meet at a table and hopelessly screw things up. It really depends on the people and whether they can be trusted to behave with professionalism and class.

If I'm the go-between, I simply relay the info between them. I can't tell one what the other will pay, or what the other will take. The rest of the info is out there on the table, for the most part. They can decide if the deal works for them.

Jan 27, 2017 02:09 PM
Ambassador
4,762,366
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Agents far too often do not give their clients enough credit, many clients know as much as or more than their agents about negotiation, and sometimes even more about real estate.

Jan 27, 2017 05:37 PM
Ambassador
2,469,472
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Most Florida brokers operate as Transaction Brokers, which provides limited representation.  

    About the only time that "the two principals meet" is when there is No Representation, such as Flat Fee MLS.

   Dual Agency is illegal in Florida.

Jan 27, 2017 04:59 PM
Ambassador
3,169,131
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I think meeting in person in a situation like this would be the best way to proceed so everyone knows you aren't dealing behind their back.  As Bob Crane said, we don't give our clients enough credit.  These face to face meetings usually only go off the rails if an agent takes it there.

Jan 27, 2017 06:35 PM
Rainmaker
4,928,199
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kathryn,

We have been in similar situations as Candice A. Donofrio .

Jan 27, 2017 02:14 PM
Rainmaker
882,396
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Fred Griffin is correct with our situation in Fl - our clients seldom if ever meet face to face for anything

Jan 28, 2017 07:53 AM
Rainmaker
1,411,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kathryn Murdock Candice A. Donofrio has a great response. I've never heard of a limited agent. Are you referring to limited agency?

Jan 28, 2017 06:33 AM
Rainmaker
3,500,285
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I don't believe in limited agency and don't do it. I don't even know how you can be a limited agent when representing a buyer. You can when representing a seller.

Jan 28, 2017 05:07 AM
Rainmaker
3,330,353
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

no....tooo many details that neither party woud recognize as legal or necessary.

Jan 28, 2017 04:02 AM
Rainmaker
3,961,812
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Candice A. Donofrio offers you excellent advice.

Jan 27, 2017 06:43 PM
Ambassador
2,209,980
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Dual agency isn't allowed in Colorado although I can work as a transaction broker facilitating the transaction. I have done this, and I have gotten both parties together to work out some details. This has worked well in a few of the commercial transactions I've done. I don't necessarily do this for residential transactions. 

Jan 28, 2017 06:52 PM
Rainmaker
1,307,342
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Never done the limited agency thing, always full service here.  Dual agency is a walk in the park.

Jan 28, 2017 10:16 AM
Rainmaker
2,887,296
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have not.  I do not do dual agency either. You have some great comments here. 

Jan 28, 2017 09:07 AM
Rainmaker
1,092,653
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

sign an agreement with the buyer regarding commission.

Jan 28, 2017 07:26 AM
Ambassador
1,615,582
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

no experience here

Jan 28, 2017 07:13 AM
Rainmaker
4,798,831
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No.  Why even have an agent if the principals are making their own decisions?

Jan 28, 2017 06:24 AM
Rainmaker
4,432,941
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Jan 28, 2017 05:00 AM
Rainmaker
5,891,481
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Follow the regulations in your state.

Jan 28, 2017 03:58 AM
Rainmaker
3,066,356
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

I do not do dual agency

Jan 28, 2017 02:53 AM
Ambassador
4,306,997
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kathryn Murdock - I have always been lucky as dual agent! Not sure what is so risky about it.

Jan 27, 2017 11:42 PM
Rainmaker
466,694
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We rarely recommend the principals in a transaction word out details to a transaction themselves. This is why they work through an agent - even an agent who is working both sides. The agent is under a fiduciary duty to do their best by both sides and will work on behalf of both to get the deal together that benefits all parties.

Jan 27, 2017 09:48 PM
Ambassador
3,307,607
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I facilitate many transactions with the permission of each side.

Jan 27, 2017 09:06 PM
Ambassador
3,985,332
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I do not do dual agency and haven't in 20 years. It is so very tricky.

Jan 27, 2017 09:06 PM
Rainmaker
3,985,581
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I do about 60% dual agency and I have also done limited.  All work when done properly

Jan 27, 2017 08:19 PM
Rainmaker
1,917,466
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

yes

Jan 27, 2017 05:34 PM
Rainmaker
795,346
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Dual agency is not my favorite thing, but it can be done if all parties fully understand what it is and agree to it.  I generally wouldn't let them get together to work it out, as that can go badly, but it depends on the people involved.  I try to have someone else in the company handle the other side.  It's still dual agency (limited) but at least there is a little seperation. -Kasey

Jan 27, 2017 05:29 PM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

In this part of the world that is not something that is practiced.  The Buyer and Seller never speak with one another when negotiating an offer. The Buyer agent sits with the Listing agent and the Seller to negotiate... 

Jan 27, 2017 05:26 PM
Rainmaker
3,185,042
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Limited is not far from the same increase in liability as dual agent. It is rare if i am ever a dual agent. We have transaction brokerage here in NH, where i can show them the home, write the contract and facilitate the closing without representing them. 

Jan 27, 2017 04:46 PM
Ambassador
3,722,090
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I serve as the moderator - all parties participate in all meetings, calls and are copied on all emails and texts.  I do not like these and typically will refer them out if one of them is a lead who I do not know (buyers usually).  

Good luck, Kathryn Murdock

Jan 27, 2017 04:12 PM
Rainmaker
2,558,520
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

You need a skills bank that lines up with a dual agency situation. Less than that & it is risky maybe not now but during the statute of limitations period

Jan 27, 2017 01:59 PM
Rainmaker
1,230,687
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

 Check Utah law. PA does not recognize limited agent.

Jan 27, 2017 01:56 PM
Ambassador
3,007,651
Anna Banana Kruchten Arizona's Top Banana!
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Kathryn 'limited dual agency' is allowed in AZ.  Persoanally I'm not a fan of dual agency.  It's like having your hands tied behind your back. You can not advocate or negotiate in behalf of buyer or seller. I have done it on occassion but I knew both parties extremely well.  I would never let the two parties 'work it out' together. 

Jan 27, 2017 01:50 PM
Ambassador
4,255,276
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I have done dual agency just twice in my career. But I would certainly not, and did not, just let the principals work out their own details. Imagine the liability!

Jan 27, 2017 01:46 PM
Rainmaker
3,641,949
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not in my wheelhouse!

Jan 27, 2017 01:46 PM
Rainmaker
1,157,329
FN LN
Toronto, ON

For real estate, we don't have the concept of "limited agent" in my jurisdiction.

Jan 27, 2017 01:31 PM
Ambassador
1,706,708
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Never have and I am sure this will come up in class.

Jan 27, 2017 01:13 PM