The Double-Double

 
The mysterious "Double End" is rarely fully understood outside the real estate world. Let's start by defining an 'end' - In every transaction there are two ends - one for the seller that lists/sells their property, and one for the buyer that actually purchases. A Double End is when the listing agent brings in the buyer that eventually completes the purchase, rather than a different REALTOR® representing each side. I want to make something completely clear here - THERE IS NO SUCH THING AS DUAL REPRESENTATION. A REALTOR® can't work for both the seller and the buyer, this is a conflict of interest and isn't ethically possible.

Without getting into the heavy legal ins & outs of the Real Estate Trading Act/Code of Ethics I want to clear up some common misconceptions about the process.

As an industry we are heavily regulated and audited to make sure that every single transaction we are part of is transparent, compliant and conforms to provincial guidelines.

Let's use an example for clarification - if you went to Best Buy to purchase a cell phone - the salesperson there is not working for you as a consumer, he/she will certainly assist you in finding the best product for your needs, but they are not going to negotiate on your behalf to get the most favorable terms on that product. It's a little bit the same with a REALTOR® showing you a property they are selling - he/she will provide you with all the necessary paperwork and walk you through the process of buying, but isn't going to go to bat for you in the negotiations.

If you are comfortable buying a property through the listing agent, that's totally up to you, but you should be fully aware of what that means. Many people feel fine representing themselves and many times I have brought in a buyer that purchases a property I have listed. It's all about communication, disclosure and making sure all parties know exactly what's happening. This can be a very confusing part of the buying/selling process and believe me, as a REALTOR® we are constantly taking courses on how to better serve the public on this sort of thing!

If you have questions about representation, sales, or any other real estate queries, contact me anytime! We can go get a double-double and double down to discuss double ending!

902-680-2736