Marketing Practice: Unethical or Savvy?

By
Real Estate Agent with Long & Foster Real Estate, Inc. Assc Broker MD DC VA

In Maryland, a real estate broker can designate different agents to represent diffent parties in a real estate transaction, but no single agent can represent both parties.  

I wanted to bring this important consumer protection issue to your attention.  This type of solicitation seems to mislead both consumers (buyer and seller) in who the real estate agent is representing by promising to save the seller money.

 

“If you are thinking about putting your home on the market, but not sure about market conditions……we can save YOU money” 

 “I can help you save money if my client purchases your home.”

 

  • If they are representing their client, how are they saving the seller money.  
  • If they are saving the seller money, how are they representing the buyer?

 

I am sure that this agent doesn’t mean to do the wrong thing.   However, it would be very simple for him/her to say he/she is looking for a home for her client in the neighborhood and to call him/her or if they are already represented by a real estate broker to have the broker call her.   I find the tone of this letter very disturbing for consumers.

 

My purpose it to bring awareness to highlight practices that negatively impact the consumers.

Brokers are responsible to what their agents do.   If you are a broker and your real estate agents can not represent more than one party in a transaction - maybe it is time for a review.

What do you think?

 
Posted by

Yvette Chisholm, Associate Broker, MD, DC, VAAlan Bruzee & Yvette Chisholm Alan Bruzee, Associate Broker, MD, DC, VA
Long & Foster Real Estate, Inc.
 Rockville/King Farm Office 301-548-9700
402 King Farm Blvd #150 Rockville, MD  20850

Telephone: 301-758-9500
 
EQUAL HOUSING OPPORTUNITY

www.BruzeeChisholm.com

 

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Rainmaker
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Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

I thought you were saying that it is illegal to practice dual agency in Maryland - but it's up to the broker? In Illinois it is legal, many do it (some very well, others not so much.)  But ultimately, it's tricky to get a "good deal" for the buyer and seller when you are representing both.

Jun 01, 2012 08:19 AM #1
Rainmaker
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Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

Hi Margaret, no the BROKER can practice dual agency - but an individual agent can not.   Can anyone really represent both parties?    I am not talking about transactional brokerage when you represent nobody and just push the transaction along.   Our contracts are 60-80 pages in maryland and understanding, negotiating, and representing someone's interest is expected.

Jun 01, 2012 08:29 AM #2
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Rainmaker
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Yvette Chisholm

Associate Broker - Rockville, MD 301-758-9500
WANT TO TALK?? Call me on my mobile 301-758-9500
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