Should you walk into an open house and ask the agent standing there to write an offer for you? That’s the heart of this week’s episode. But first… Matt and Britton have started a new real estate brokerage, Jackson Fuller Real Estate! Congrats to Matt and Britton for their new San Francisco real estate offices in the Westfield at 845 Market St., Suite 450. Unfortunately, in his excitement to move into the new offices, Matt messed up and armed the wrong mic when recording this podcast episode. Our amazing audio engineer did his best, but we apologize Matt sounds so distant.
Matt and Britton started their real estate blog in 2006 and have always had an active online presence, so we start an episode about agency with a comment from one of our listeners. Our listeners wrote in about an experience with a listing agent who was acting as a dual agent at their request, based on one of the many articles we’ve published about real estate agency.
This story illustrates a few of the pitfalls of modern San Francisco real estate, especially when it comes to agency and dual agency. Our listener’s comment really captures so many great topics of discussion, from agency relationships to points around offers and offer strategies as well as all the frustration clients often experience with the market – so many potential future podcasts!
But, back to agency and dual agency and strategy. Does saving the seller commission balance out in the cost vs benefit analysis? What about when there are multiple offers? What is one of the most common assumptions potential buyers have? Matt and Britton explain why going directly to the listing agents doesn’t always mean a better deal for the buyer. The seller hired the listing agent to get the best price for the property which in turn might not be in the buyer’s best interest. Having the right mindset is essential for a dual agency – which represents multiple parties – to work.
Finally, Britton and Matt share their own experiences as dual agents. Sometimes it worked out well. Sometimes not so much!
Don’t miss our next episode where we will talk more about agency relationships – what they are and what the big misconceptions, and confusions are.