Understand the ethical and financial aspects of dual agency and pocket listings with insights from seasoned experts.
Jun 15, 2024Value of MLS: Real estate broker Robert Bailey emphasizes that utilizing the multiple listing service (MLS) systems broadens a property's exposure, leading to a larger pool of potential buyers and, ultimately, higher offers.
This network benefits the seller by fostering a competitive bidding environment.
Pitfalls of Pocket Listings: Realtor Pat Kapowich highlights the issues with pocket listings, where properties are marketed privately without being listed on the multiple listing service.
A tactic that limits property exposure, potentially leading to lower sale prices, and is not serving the seller's best interests.
Challenges of Dual Agency: Real estate attorney Sam Chuck, a well-versed real estate professional, delves into the dual agency scenario, where a single real estate agent or brokerage represents both the buyer and the seller.
While this arrangement is legal, it presents inherent conflicts of interest. The agent must navigate between securing the highest price for the seller and the lowest price for the buyer, a complex task in any transaction.
Value of MLS: Real estate broker Robert Bailey emphasizes that utilizing the multiple listing service (MLS) systems broadens a property's exposure, leading to a larger pool of potential buyers and, ultimately, higher offers.
This network benefits the seller by fostering a competitive bidding environment.
