There are a couple reasons we seriously dig this carnival of absurdity. To begin, that flippin' around in the clouds stuff takes crazy skill! Granted, the years of practice must be grueling, yet all the methodical effort is for not, without the finesse of these performers. The second reason we are fascinated by this Moulin Rouge madness is the thrill we feel! The audience sits perfectly still, in absolute silence and wonder of what might happen next? Will they complete the journey between the ultra tall podiums? Will they come crashing down? All the while, racing through our minds...how the heck are they doing that, and better yet...why?!! #adrenalinejunkie" (don't lie, you hashtag in your head, too). Regardless, of the reasons we visit the circus, in real estate working with the buyer and seller, simultaneously shouldn't mirror The Big Top. Oh sure, we have no problem staring in awe at that high-flying mass talent, but it's only because we know they are capable. When any event is done with insane dexterity...it's aw-some! Right?!!!
The Juggling Act
Frankly, I can't think of time in my real estate career that a transaction involving both buyers and sellers, under my representation alone elicited the words..."that's cool how you made us nervous, and stuff. We wondered if you liked your other clients better than us? We loved when we thought the deal was going to fall apart because no one could come to an agreement!" Hmm, nope. Not clowning around here, no client wants to sit in on your juggling act when it involves them. We aren't talking about a $20 ticket to a show. This is a $200k+ purchase and nothing is funny about that.
Oh sure, we are all willing to take that risk and do a double-end back flip for the payoff, but do it wrong and now you have a job cleaning the donkey stalls. (you got that metaphor, right?). However, treat this kind of deal with precision and mastery, and you can sport the top hat all the way to your treasure trunk. More importantly, your clients get their fantastical new homes and a Ringmaster Realtor they can rely on in the future...and refer today!
BALLYHOO! Ideas for you
Master...The 3 Ring Circus
Ring #1. Be sure that you have properly disclosed the relationship you have with both parties. Make it clear you are representing them individually, yet within the same transaction. This is more than a quick overview. Depending on your state, there are disclosure forms that need to be reviewed and signed. If you are not sure of how your state's compliance needs to be spelled out check with your Broker, or your local DRE/BRE. Never guess or disregard these docs.
Ring #2. Don't be made to feel like the 3-Headed Monkey Boy in the freak show. In spite of how some Realtors feel about "double-ending"...before it became a four letter word, it was totally acceptable. What happened? Ethics? The moral decline of humanity? I like to look at it like this; let's say I have a toothache and go to the "general dentist", and while I'm there he finds I need a root canal. He schedules it for next week, doing the procedure himself. What? Is there something weird about that if he is skilled to do, both? I do understand that there is no 3rd party involved where favoritism can be shown. Except wait, you say maybe he is just trying to make and keep all that money for himself". Yet, if he took the time and effort to educate himself and put in the hard work, why do I care if he is making money on both actions? I don't. Just be sure you do it, right! And, show me your credentials. I understand it's not exactly the same scenario, but come on...you get the drift. Dual agency, when allowed and done right doesn't have to be shady. Fiduciary Responsibilities. Use 'em.
Ring #3. There are 2 sides to every coin. Considered how this could be a huge benefit to both, buyer and seller. Check this...I work predominately as a buyer's agent. One of the most frustrating aspects of the sales side of a transaction is keeping an eye on the loan. Man, there is nothing that will stop the Ringling Bro's vibe quicker than Bozo - The Buyer's Agent failing to keep a spotlight on the deal. I truly know the importance of that. However, when I'm representing the seller alone, it's kind of out of my control. Oh sure, I can check on it now and then via the buyer's agent (it's always nice to be respectful, and not try to do the other Realtor's job). For real though, when you look at The 2-Headed giant in that light it isn't so bad, after all. In this case, two heads really can be better than one. Two sets of eyes, better yet! Follow your dual agency strategy with disclosures, good communication, outstanding ethics, and superstar management...you've got a 100,000 ticket prize!
Let your balancing act be strong, your integrity fly high, and your professionalism dazzle the crowds. It's all about being the magical and moral mediator!
"Ladies and Gentlemen...Welcome to The Greatest Show on Earth"! Dual Agency Dynamo!
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