I recently received a couple of requests for a Comparative Market Analysis (CMA). As I did the basic research, I discovered that both of the properties were already listed with other brokers.
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In both cases, the seller was feeling “awkward” because the listing agent had brought a buyer for the property they listed. In each case, the offer brought by the listing agent was substantially low. This left both sellers felling like their agent was not representing them in the best way possible.
In Texas we do not allow dual agency. We handle it in one of two ways. The first way is with two agents under the same broker. The Broker serves as an Intermediary and the two agents represent their respective clients. The other way is with a single agent acting as a transaction coordinator. Neither party is represented. The agent’s role is to facilitate the deal.
In the first case, the listing agent has done a really good job of marketing the property. The listing agent tried to force a low offer and it left the seller feeling like the agent had “done them wrong.”
In the second case, the marketing was fair. The photos were marginal at best. The seller had had the property professionally appraised and yet the listing agent brought an offer at 85 percent of market value from one of his own buyers. The seller related that, “it’s a bit of an awkward situation.”
All relationships are based upon trust and the trust had been damaged in both cases. When will listing agents learn that trying to double-end deals is not the way to go?
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