Assumptions About Dual-Agency

September 19, 2006 |

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It was brought to my attention that, in my previous post about dual-agency, I was assuming the agent in question was listing the properties at a 6% commission.  We all know what happens when we assume ==> ass / u / me. 

Obviously, I don’t know what the listing side commission is for each of the properties advertised.  According to the MLS, the buying side commission on the properties is 3%.  I am assuming that the listing side is the same only because that is the most common commission rate in our market. 

Assumptions aside, the question still remains, how much is inadequate representation worth to you?  If you are the seller, is 1% commission acceptable for your agent to essential abandon you and reduce himself or herself to a transaction manager (paper-pusher)?  Add to that the potential for conflicts of interest and ethical violations, and now what is it worth? 

In all my future discussions about dual-agency, I will be basing my arguments on the typical 6% commission. 

It doesn’t really matter, however, since the only price that even comes close to justifying dual-representation is FREE.  At least that way, you get what you pay for. 

Posted by Daniel | Filed Under Dual Agency 

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