What are the chances that I will sell your home?


What are the chances that I will sell your home?
By Scott Rogers • February 10, 2009
What are the chances that your Realtor (a.k.a. "listing agent") will also represent the buyer of your home? Or, put another way, what are the chances that the agent you hire to sell your home will be the one who actually sells it (represents the buyer)? In 2008, there was a 1 in 4 chance that your listing agent would be the one to sell your home. Of the 1,371 residential properties that sold in Harrisonburg and Rockingham County in 2008, there were 342 transactions (25%) where the seller was represented by the same agent as the buyer. Statistics aside, however, this brings up the controversial issue of "dual agency" -- a practice in which the same agent represents both the buyer and seller. Dual agency is commonly practiced (as we saw above, in 1 out of 4 transactions), but it is something that I typically try to avoid. (Less than 5% of my transactions involve dual agency.) A dual agent is significantly limited in how they can represent the buyer and seller in a transaction because they are representing both parties. It would be akin, in some ways, to one attorney representing both the plaintiff and the defendant. There are plenty of times when this works out just fine, and an agent is able to fairly represent both the buyer and seller in a transaction, but there are plenty of opportunities for problems as well. Generally, the only exception that I make for practicing dual agency is when I have a pre-existing buyer client who decides they want to purchase a property where I am already representing the seller. (I'm in the midst of one of these transactions now.) Any thoughts here? Is the 25% stat (of properties being sold by the listing agent) surprising high or surprisingly low? Does dual agency seem perfectly acceptable, or remarkably absurd? Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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