Do you show your short sale listings to unrepresented buyers?

This point came up in my listing presentation this week.  I don't show unrepresented buyers my short sale listing because of:

  1. Dual Agency
  2. Risk of reduced commission

What's your take on this topic?  Do you address it with your clients upfront?  

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Replies to This Discussion

Permalink Reply by Marlene Reyes-Burgess on October 16, 2011 at 3:47pm

I refer it out, so the lead is work out and worst case scenario I get a refer fee.

Permalink Reply by Jeff Payne on October 17, 2011 at 6:05am

Marlene, why do you do it that way?  Legal reasons?

Permalink Reply by Samantha James-Tharp, PA on October 17, 2011 at 5:57am

I don't think his main concern was about commission I think he was aking how do you handle it.  How I have seen it handle was to have your broker take one of the positions.

Permalink Reply by Jeff Payne on October 17, 2011 at 6:03am

Regardless, I think his question was answered.  Some states do not allow dual agency, some do.  If you are in a state that does not allow it, the answer is simple.  If you are in  state that allows it or in the case of Florida, we are transcation brokers that can list and sell in the same transaction.  If it was not about commission, then why did he ask about risk of reduced commission?  Just because you have both sides does not mean commission will be reduced and just because you use another agent to try to get full commission does not mean commission won't be reduced.

For me I want to do what is best for my customer/client. 

Permalink Reply by Jennifer Grace on October 17, 2011 at 8:30am

Rare in our case to do dual representation because of dropped commissions, but Chase allowed 6% on dual! Never know what they'll say from week to week, so try it.  

Permalink Reply by Robert S Stoeck on October 20, 2011 at 10:20am

I have 2 buyers agent that handle all showings. I receive referral fees to help cover my assistants salary expenses.

I tell Seller when listing I will not be showing your home as I only represent them in this transaction.

But I have agents that will show any interested buyer straight away. This has not caused reduced commission of any kind even being in the same office.

Sellers seem to like being up front and you working only for them.

Good luck.

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