RealTown's RealTalk

Here's another twist for you Neal.  You delayed one or two days in getting an definitive answer from buyer #1 (whether or not he wants the listing).  Meanwhile, the house sells before you can show the listing to your buyer #2.  Or, say at the end of the first or second day buyer #1 decides he does want the house.  However, while you were being "courteous" to buyer #1, buyer #2 was waiting patiently to see the house with you, so he loses the perfect house to buyer #1 (or some other agent's buyer).

Would buyer #2 have a valid COE Article 1 complaint against you?

LyndaK in INdy

" I'm never too busy for your business "
Lynda King, REALTOR-Broker, ABR, ASP, CRS
RE/MAX at the Crossing, Indianapolis, IN
Lynda@SellingIndy.com
www.SellingIndy.com or  www.IndyHomesOnline.com

At 03:34 AM 2/12/2007, you wrote:
>Laurie's EBA disclosure and the disclosure that I give during my
>initial buyer's consultation, that we may be showing the same
>properties to other buyers, put the buyers on notice upfront. No
>need for "permission".
>
>LyndaK in INdy

I agree. We have had a first to write first to serve policy for 15
years with all of our buyers. They are made aware of the fact that
we will show all of our buyer all appropriate homes as soon as they
let us know they want to see them.

tOMe

Thomas A. Early, Master CEBA
425 W. Schrock Rd.
Westerville Ohio 43081
Serving the Greater Columbus Ohio area
TomEarly@BuyersBrokerage.com
http://BuyersBrokerage.com
100% Buyer Representation 100% of the Time
Past President of the National Association of
Exclusive Buyer Agents (NAEBA) http://NAEBA.org
NAEBA: 1-800-786-1570
Buyers Brokerage 1-614-890-2722

At 03:46 AM 2/12/2007, you wrote:
>Most company policies (including our own) require managagment to be
>present when a multiple offer situation comes into play when the
>listing agent has their own buyer. This mitigates the chance for a
>lawsuit. Though I do feel two buyers from the same agent, office, or
>company requires full disclosure. I do not feel it requires consent
>as in a dual agent situation, requiring disclosure and consent.

I always find statements like this amusing. The manager (Broker) is
the agent of the buyer in both cases. You are the agent of your
brokerage, not the buyer. Any time you have an in house listing
being purchased by an in house buyer it is DUAL AGENCY for the
manager (Broker) and you can mitigate until the cows come home and it
will not change.

Where is it that licensee's feel they are the agents of the
consumer? Find me a listing agreement or a so called EBA agreement
which does not make the Brokerage the Agent of the consumer.

By the way. An EBA agreement is an Exclusive Buyer AGENCY
agreement. You had best make sure your BROKERAGE is agreeing to
represent the buyer Exclusivly. These agreement should be called
Exclusive Representation Agreement not EBA agreements. Only an EBA,
Exclustive Buyer AGENCY should be using EBA agreements because only
EBA Brokerages agree to provide Exclusive AGENCY to the buyer.

tOMe

Thomas A. Early, Master CEBA
425 W. Schrock Rd.
Westerville Ohio 43081
Serving the Greater Columbus Ohio area
TomEarly@BuyersBrokerage.com
http://BuyersBrokerage.com
100% Buyer Representation 100% of the Time
Past President of the National Association of
Exclusive Buyer Agents (NAEBA) http://NAEBA.org
NAEBA: 1-800-786-1570
Buyers Brokerage 1-614-890-2722

tell buyers in my intial interview that at any time I
may show other buyers the same properties they may be
looking at or other agents could be showing the same
properties to their buyers so if they see something
they want it may not be there long. Everything is out
on the table from the beginning.

________________________________________________
Our Buyer's Agreement specifies that we have the right
to show to other buyers any properties they have
originally look at and it does not void our
representation to that buyer. If buyer #1 comes back
and also makes an offer, I give them th choice of
using another agent to write their offer.

Glory Bee Costa ABR, CRS, GRI, E-PRO, SRES
410-745-3241-Home Office
410-310-9081-Cell
http://www.Maryland-WaterFront-Homes.com
E-Mail-Glory@GloryBeeCosta.com
Maryland Counties (Eastern Shore)
Talbot, Queen Anne, Caroline & Dorchester
Prudential Premier Properties - Easton, MD - Associate Broker

Quite frankly some of these scenarios are now splitting hairs. No matter what happens I'll have another agent represent one of my buyers if both are interested. Let me say one thing I don't wait around for anyone or anything. Some of these questions make it look like I"m sitting around waiting for the grass to grow under my feet. I can say with the utmost certainty I do not. Some people here seem to be missing the point. I inform all of my buyers who I show the same property to as a matter of courtesy and let them know there are other people that may be interested. As far as violating the code of ethics, having adjudicated over 300 ethics cases in my service to three professional standards committees I am well aware of what the COE does and does not require. The bottom line is anyone that if I show a particular property to more than one buyer that are interested and both want to present offers they will be represented one way or another and have their offer(s) presented period.

I find some of the responses to my post most amusing. One giving the impression I don't make things happen for my buyers "now" quite frankly I find this insulting and demeaing when my original post was that if I have more than one buyer for the same property and just "waiting for things to happen". I can assure everyone here I don't need anyone to tell me how to handle my buyers as I have put hundreds of buyers into homes and negotiated nearly $500,000 in closing cost credits and or repairs for my buyer clients and never have had a dissatisfied buyer. Some here are taking this way out of proportion. Again, my objective is to service all of my buyers and show them all properties based on their qualifications and requirements. My objective to avoid any conflict when two buyers are interested in the same property that's it period. If the situation were to arise if and when more than one of my buyers is interested in the same property they will be represented. I don't need anyone here or anywhere else questioning my ABR status or my integrity with regards to buyer representation.

At 05:55 PM 2/12/2007, you wrote:
>Our Buyer's Agreement specifies that we have the right
>to show to other buyers any properties they have
>originally look at and it does not void our
>representation to that buyer. If buyer #1 comes back
>and also makes an offer, I give them th choice of
>using another agent to write their offer.
>
>Glory Bee Costa

Would that be another agent in the same brokerage? Does this buyer
know that he is now dealing with Dual Agency?

tOMe

Thomas A. Early, Master CEBA
425 W. Schrock Rd.
Westerville Ohio 43081
Serving the Greater Columbus Ohio area
TomEarly@BuyersBrokerage.com
http://BuyersBrokerage.com
100% Buyer Representation 100% of the Time
Past President of the National Association of
Exclusive Buyer Agents (NAEBA) http://NAEBA.org
NAEBA: 1-800-786-1570
Buyers Brokerage 1-614-890-2722

"Any time you have an in house listing
being purchased by an in house buyer it is DUAL AGENCY
for the
manager (Broker) ..."

Not quite. In Illinois we are a designated agent
state...I am designated as the agent of the buyer and
it is NOT dual agency if Terri from my office is the
designated agent of the seller.

Yes...we both work "under" the same broker...but
Illinois law does NOT agree with your assertion.

I am a DUAL agent ONLY if I list and sell my listing
to my buyer clients. That's it.

I seem to remember an old saying: Real Estate is Local.

Cordially,

Eileen Landau, ABR, CRS, E-Pro
Over 800 Homes Sold!
Realty Executives, Realtors
Naperville Il 60540
www.MoveUptoNaperville.com
www.EileenLandau.com
630-961-2600 & 630-961-2700

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