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Dual Agency and the Medical Profession

Brian R. Madigan LL.B. — Fri, 05 Dec 2008 00:41:00 GMT

Dual Agency and the Medical Profession

By Brian Madigan LL.B.

The laws of agency have their origins in the 12th century BC. The early origins of the Hippocratic Oath for doctors arose in the 4th century BC. It is no surprise that there are startling similarities between the legal obligations owed by agents and the legal obligations owed by doctors to their patients, since this is simply a specific category of an agent-principal relationship.

There are some duties and obligations owed to clients that arise out of the common law of agency:

• Loyalty
• Confidentiality
• Obedience
• Competence
• Accounting
• Disclosure
• Best interests

Doctors followed these same duties and obligations when dealing with their patients, at least until about 200 years ago. Then, modern medicine intervened. Doctors became responsible to other third parties. Someone else was paying the bill, so their interests needed to be taken into consideration. Historically, doctors were employed by the military and treated the sick and injured. Who received care was influenced substantially by the military and not by the patients in need.

Today, doctors have many masters, not just two, which of course would be complicated enough. A doctor will be entrusted with responsibility to:

• Treat the patient
• Utilize scarce resources
• Expend insurance moneys
• Administer social programs (workers compensation, occupational health)
• Report to employers
• Report to licensing bodies on fitness to practice (professions)
• Report to transportation authorities in terms of fitness to drive
• Report child abuse (fitness to parent)
• Entitlement to restricted medications (writing prescriptions)
• Access to health insurance
• Access to benefit plans
• Assessment of injuries for legal system

The above list is not exhaustive, it is just a sampling of the various roles that a doctor practising modern medicine faces every day. The patient is not the sole and only principal. So, others may be interested in the patient’s condition, particularly an insurance company paying the bill, or the province should the patient lose the ability to operate a vehicle. Who has the obligation to report? Doctors, of course! Isn’t that a conflict of interest? Shouldn’t they just serve one master and keep quiet? Perhaps!

But, that is not how modern medicine works. This is a profession. Doctors must weigh and balance each of their duties and responsibilities carefully. They may be serving a half-dozen separate masters in every decision they make.

When it comes to medicine, we are not really talking about dual agency, we are likely talking about triple agency or quadruple agency. This is expected, this is the norm. Doctors as professionals are expected to balance the various competing interests and arrive at an independent and unbiased decision. They are to render a “professional opinion”, they are to bring “professional judgement” to bear on their cases. They decide which of two patients gets treated in the ICU.

When we review the role of the legal profession, we see that conflicts are rare. When we look at the medical profession, we see that conflicts are commonplace.

So, what does all this mean to realtors? What about dual agency? Is it appropriate to compare it to the legal profession? Or, should it be compared to the medical profession? What is right, and what is fair?

By medical standards, dual agency should be fine. It doesn’t occur that frequently, and when it does, it can be resolved to the client’s interest.

By legal standards (comparing realtors to lawyers), dual agency is essentially wrong. It should not be undertaken at all. There is no appropriate resolution.

All in all, dual agency itself seems to be more of a fact of life. The proper questions should be directed to the manner in which it is handled once it arises rather than outlawing it completely or permitting it without recourse.

Brian Madigan LL.B., Realtor is an author and commentator on real estate matters, Coldwell Banker Innovators Realty
905-796-8888
www.OntarioRealEstateSource.com

Holiday Events in Saline, Michigan

Ann Arbor and Saline Michigan Real Estate — Fri, 05 Dec 2008 00:11:39 GMT

Friday, Dec. 5 Saline Moonlight Madness Craft Show will be held from 5 to 11 p.m. at Saline Middle School , 7190 N. Maple Road. More than 135 creative crafters will be showcasing their work. Admission is $2. Saturday, Dec. 6 Parade Day in Saline will Read More......(read more)

Bristol Tower

dienerph — Thu, 04 Dec 2008 23:42:34 GMT

BRISTOL TOWER CONDO

Bristol Tower Brickell Condominium address:
2127 Brickell Ave. Miami, Fl. 33129

About Bristol Tower Condo Brickell

Year Built: 1993
Architect: Revuelta Vega Leon
Developer: Ugo Colombo
Number of Floors: 40
Number of units: 146
Sq. Ft. range: 1,210 - 9,080
Beds: 1-5
Baths: 1-7
Bristol Tower Condo Amenities:
- Gated
- Concierge
- 24-hr Security
- Valet Parking
- Covered Parking
- Pool
- Jaccuzzi
- Sauna
- Tennis Court
- Convenience Store
- Social Room

Bristol Tower Condo Brickell

The Bristol Tower Condo Miami is a stunning 40-story building superbly located on Brickell Avenue. It is one of Miami's most luxurious condominium buildings. Entering the lobby at the Bristol Tower you will find yourself surrounded by luxurious details and beautiful marble floors. Most units feature beautiful Biscayne Bay and city views.

Travertine floors highlight a sweeping terrace with 270-degrees views from the stunning skyline of Miami and the sparkling Atlantic to the lush tropical landscaping of Coral Gables. All the the units at Bristol Tower Condo spell elegance.

Bristol Tower condo Brickell - From your Bristol Tower Condo you can feel the warm breeze caressing your face from your unit or simply enjoy the breath taking views. These luxury properties of the Bristol Tower have a magnificent view of Biscayne Bay.

Bristol Tower Condo Brickell | Condos Sale Rent

For Sale By Owner VS. Realtor....The Age Old Question

Renee Porsia — Thu, 04 Dec 2008 23:05:00 GMT

For Sale By Owner Vs. Realtor… The Age Old Question Posted by Renee Porsia under For Buyers , For Sellers , For Realty Professionals , General Information , RE/MAX , selling , buying , Renee Porsia , NAR , Philadelphia Market Statistics , Loans , Prices Numbers do not lie: Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions...(read more)

Grovenor House Coconut Grove

dienerph — Thu, 04 Dec 2008 22:40:23 GMT

Grovenor House Coconut Grove

Developer: Ugo Colombo
Architect: Revuelta, Vega, Leon P.A.
Description: Waterfront High Rise
Type: Condos
Units: 166
Floors: 32
Number of Bedrooms: 2,3 & 4
Unit Sq. Ft. Range: 1,595 - 7,061
Price Range: $700,000's - $5 mill
Amenities: Temperate Controlled Infinity Pool, Business Center and, Conference Room, 24 hour Concierge, Valet Parking
Completion Date: 1st Qtr. 2006

Grovenor House Condo, developed by Ugo Colombo is a 32-story tower with estate-sized residences, including extraordinary two-story penthouses with private swimming pools and commanding unprecedented views of Biscayne Bay. Residents will experience a level of luxury and technology-including touch-panel concierge services-surpassing anything in South Florida, typified by private elevator lobbies, wine cellars, expansive living areas, marble bathrooms and wood and granite kitchens.
The Grovenor House Coconut Grove condo is a special place, the jewel for which Coconut Grove is the perfect setting.
Rising above Coconut Grove & Biscayne Bay, Grovenor House condos presents Tower residences with private whisper-quiet elevators & floor-to-ceiling glass walls that open to terraces with magnificent waterfront views as wide as the sky. The Upper Penthouse offers 7,000 square feet of living space, with four bedrooms, a family room, media room, exercise room, seven-and-a-half baths & expansive terraces commanding an additional 2,000 square feet.
A Grovenor House condo residence maintains the highest standards while keeping up with the latest innovations. Every appliance, every finish, every feature is the finest in the world. It is imaginative and creative, yet sophisticated, elegant and classical.

Grovenor House Coconut Grove

Homes in Richmond VA-10704 Estelle Ct.-Glen Allen

Nate Rowe — Thu, 04 Dec 2008 22:33:00 GMT

Nate Rowe | Oakstone Properties | nate@naterowe.com | 804-439-0798

10704 Estelle Ct., Glen Allen, VA

Security System, Irrigation System, Warranty, Many Upgrades-Beautiful Colonial-Very Close to I-295 and I-95. Shopping, Restaurants, Movie Theater

4BR/2.5BA Single Family House

offered at $324,950

Year Built	2000
Sq Footage	2,816
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.45 acres
HOA/Maint	$39 per month

DESCRIPTION

With over 2800 s/f, this beautiful 4 Bed- 2.5 Bath Colonial has been freshly painted and is priced to sell. Just wait until you walk in and see the wonderful 2-story foyer leading into a cozy and open floor plan. There are plenty of reasons to make this your new home. Some of its features include a Security System, Crown Molding, Gutter Helmets, Irrigation System, Surround Sound, Ceiling Fans in all Bedrooms, His and Hers Walk-In Closets and much more. All Window Treatments convey as well as the Microwave, Dishwasher, Oven and Disposal. There is a 21 x9.5 Morning Room off the kitchen that would be perfect for those Holiday Meals. The sellers are also offering a 1 Year AHS Home Warranty. OPEN HOUSE- SUNDAY, NOVEMBER 23.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Walk-in closet	Hardwood floor	Family room
Living room	Dining room	Breakfast nook
Dishwasher	Stove/Oven	Microwave
Attic	Laundry area - inside	Yard

COMMUNITY FEATURES

Clubhouse	Swimming pool(s)	Tennis court(s)
Playground

OTHER SPECIAL FEATURES

2-Car Attached Garage

ADDITIONAL PHOTOS

Seller contact info:

Nate Rowe

Oakstone Properties

nate@naterowe.com

804-439-0798

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 20, 2008, 1:28pm PST

Lucy "The Apple of My Eye"

Nate Rowe — Thu, 04 Dec 2008 20:35:00 GMT

Hello Everyone,

This is your realtor friend representing Homes in Richmond Virginia.

I wanted to write a blog on the world’s best dog. I found Lucy almost 14 years ago when she was a puppy. I was driving in Richmond and saw a little puppy lying in a mud puddle on the side of the road. She was starving to death so I took it upon myself to pick her up and give her a better life (I don’t understand how anyone could throw a little puppy out like trash).

I have spoiled her rotten for almost fourteen years now. She eats from my fork, sleeps in my bed, lies on my couch and begs when she wants. She is the apple of my eye and I wouldn’t have it any other way. She has been the best dog you could ever ask for. She is still as active as ever and her personality is almost human. I always give her something to look forward to (treats, milk, rubs, etc.) I truly believe that if she always has something to look forward to she will want to stick around longer. Please take a look at her pics and share yours.

Thank You,

Nate Rowe “Homes in Richmond Virginia”

www.NateRowe.com

Lakeland’s Mid-Florida Federal Credit Union Enters the Real Estate Business

Florida Mortgage Blogger — Thu, 04 Dec 2008 20:19:52 GMT

Today, the Lakeland Ledger reported that a long-time Polk County, Florida real estate company - A.H. Realty - has been purchased by MidFlorida Federal Credit Union. The deal was completed on Wednesday. A.H. Realty will be renamed MidFlorida Real Estate Sales, LLC and will be a become a wholly owned subsidiary [...] No related posts....(read more)

Housing more affordable - Rates below 6%

Northwest Indiana Mortgages - FHA and Conventional — Thu, 04 Dec 2008 19:55:00 GMT

Exactly why are you still sitting in your apartment again? CARPE DIEM by Mark J. Perry According to the National Association of Realtors' ( NAR ) most recent report , the housing affordability index ( HAI ) reached a six-year high of 141.8 in October Read More......(read more)

Why Should A Buyer Sign A Buyer Broker Agreement?

Renee Porsia — Thu, 04 Dec 2008 18:53:00 GMT

Posted by Renee Porsia under For Buyers , For Realty Professionals , General Information , RE/MAX , selling , buying , Renee Porsia , NAR Today I wanted to talk about what a Buyer Broker Agreement is, why it is used, why a buyer should sign one and what happens when a buyer refuses to sign one. A Buyer Broker Agreement is a legal document that establishes the relationship between a buyer and a Realtor. It lays out how long the buyer agent will work for the buyer “client” (more on client...(read more)

Moving Into a New Home?

Jon Huther Albany NY Homes — Thu, 04 Dec 2008 18:04:00 GMT

How to easily settle into a new home.

Protect delicate plants from damage by making funnel-shaped cardboard protectors. If you're moving in cold weather, be sure to seal the plants in plastic as well.
Make sure all the rooms are clean before placing furniture into them. Dust the baseboards, and vacuum and wash the kitchen and bathroom floors. Clean storage spaces before filling them as well. Paint them if you have the time.
Before moving furniture into a room, decide how you want to it arranged. The best way is to make newspaper cutouts of the furniture. To do this, measure the dimensions of the item, and tape together newspaper pages to match the "footprint" of the furniture. This allows you to easily try out several floor plans before hauling in all the furniture.
To prevent items from being misplaced, draw up a floor plan of the house and label each of the rooms on the plan. Put the corresponding names of each room on its door. Place the map near the entrance so that the people helping with the move will be able to find the rooms are quickly and easily. Write the name of the room on each box.
To keep helpers from tracking in dirt during their many trips into the home, lay down packing blankets or drop cloths over carpeting or floors. It's unrealistic to ask them to remove their shoes each time they come in and out of the house, and this method will prevent unnecessary cleaning later.
When moving a large or heavy piece of furniture upstairs, lay it on its back on the stairs. Have two people underneath push it and one person above to steady it. If there is the potential to damage to the piece, wrap a packing blanket around before you start to move it.
Air rooms out by opening all the windows. If it's cold outside, keep them open just long enough to freshen the air, then close them and turn on the heat. This will be a good opportunity to make sure the furnace is in good working order.

Dual Agency and the Legal Profession

Brian R. Madigan LL.B. — Thu, 04 Dec 2008 17:06:00 GMT

Dual Agency and the Legal Profession

By Brian Madigan LL.B.

Lawyers act for their own clients. They don’t act for opposing parties in the same deal or adversaries in Court. The basic element of the agency appointment for lawyers is “advocacy’.

The lawyer is selected as an advocate to act for, and champion the cause of the client. Avoid conflicts of interest! If there is a potential conflict, even if it’s not real, avoid that too.

It would indeed be rather absurd to find that the plaintiff’s lawyer was also representing the defendant in the same case. How would that work? Of course, it doesn’t work at all.

If the defendant asks the plaintiff’s lawyer for assistance, then the lawyer will refer the defendant to other counsel. From time to time, the defendant will be commonly represented by a particular law firm. If it turns out that the law firm commenced legal proceedings against one of its own clients by mistake (sometimes unknowingly) then both parties will be referred to other counsel.

This reminds me of a small law firm which developed substantial expertise in the field of environmental law. There were three partners, but soon they found that they had to turn down just about every case due to conflicts of interest. The work soon went to other less experienced counsel. All their own (former) clients were annoyed. So, what did they do? They split up the partnership and went three separate ways. In the end, as between all three new law firms, they represented all their former clients. All the conflicts if interest were avoided.

On referral, there is no percentage payment or reimbursement. There is no referral fee. It is a quid pro quo situation. If Bob refers a case to Bill this week, hopefully Bill will refer a client to Bob next week. Any payment is considered inappropriate and unethical. Perhaps, if Bill does not have a client to refer, then the next time they are out to lunch, he will pick up the tab. But, that’s it. Otherwise, any referral compensation would go against the laws related to champerty, that is encouraging lawsuits. It was long considered unethical to encourage or have a vested interest in the outcome of a lawsuit. Good lawsuits were simply to proceed unencumbered and based on their merits.

While the lawsuit situation is clear, a solicitors’ practice is not. Here we are dealing with the advice and counsel provided to clients by lawyers in respect to their business dealings, contracts, and personal matters.
It is somewhat more difficult to establish boundaries when the two clients are not in Court, but both are sitting across from each other in the lawyer’s boardroom attempting to negotiate a deal.

Nevertheless, law societies have established and maintained strict guidelines: in essence, don’t act for both. That’s all there is to it.

From time to time, there are limited geographic exceptions in non-controversial matters. Perhaps a law firm may be permitted to act for two parties (provided they have somewhat similar interests) in a remote rural area, otherwise one party is going without counsel. So, limited dual agency is acceptable out of necessity. This however is a rare set of circumstances.

There are some duties and obligations owed to clients that arise out of the common law of agency:

• Loyalty
• Confidentiality
• Obedience

• Accounting
• Disclosure
• Best interests

In fact, these same rules apply to real estate agents. But, lawyers have clients. They don’t have customers. There are no second-tier or second-rate clients that have a different name. You are either a client or you are not. If you are a client, you are entitled to receive those duties and obligations.

There simply is no dual agency. Someone gets moved to another law firm. Both parties are entitled to representation and that means “client status”.

Generally, law firms will make far less money in a real estate deal than the realtors, so perhaps it is somewhat easier to refer one of the parties. But, temptation should not be a sufficient justification for dual agency in the real estate business.

By and large, law firms do their utmost to maintain high ethical standards and avoid conflicts of interest between their clients.

The real estate industry would do well to follow suit. Unfortunately, dual agency has been around too long, so the practice is likely to continue in the foreseeable future.

Brian Madigan LL.B., Realtor is an author and commentator on real estate matters, Coldwell Banker Innovators Realty
905-796-8888
www.OntarioRealEstateSource.com

Are Those 4.500 Percent Winter Haven Mortgages for Real?

Florida Mortgage Blogger — Thu, 04 Dec 2008 16:33:17 GMT

Well, not exactly. See the video below… The business TV world is on fire this morning with rumor of 4.500 percent mortgage rates on the horizon; the clip above ran on NBC this morning. The news comes from information released on the “down low” that the U.S. Treasury will somehow positively impact the [...]...(read more)

15 Reason Why it is a Great Time Buy in Colorado Springs

jaycarden — Thu, 04 Dec 2008 15:50:00 GMT

15 GOOD REASONS TO BUY A HOUSE NOW IN COLORADO SPRINGS!

1. Home prices adjusted to a lowest level in more than 3.5 years in Colorado Springs, Many deals to be made!!! (October 2008).

2. Interest Rates are close to 40 year lows. 30 Year fixed rate mortgages are priced around 5.5% and could go lower.**

3. Forbes Magazine picked Colorado Springs as One of the Top 10 Cities in the U.S. "Where Prices are Likely to Rise in the Near Future".

4. Smart Money Magazine (THE WALL STREET JOURNAL MAGAZINE OF PERSONAL BUSINESS) Picked Colorado Springs as it's number 6
“TOP 25 MARKETS TO REBOUND”.

5. KIPLINGER Magazine “BEST CITIES TO LIVE, WORK AND PLAY” Chose Colorado Springs a it's number 5 Choice. Kiplinger Link

6. The 2008 edition of "Cities Ranked and Rated" Ranked Colorado Springs as the Number 4 Best Choice Best Places Link

7, Colorado Springs is Ranked 38 out of 100 U.S. Cities to Attract 25-34 year olds. Denver's ranking was 59. Welcome Gen Y and X. Affordable housing ad great jobs.

8. First Time Home Buyers can get up to $7500 Tax Credit when Purchasing a Home before July 2009.*

9. Home buyers at certain income levels can now deduct mortgage insurance associated with their loan.*

10. Homeowners have the ability to deduct mortgage interest from their taxes, this is the largest tax break a person can have.*

11. Homeowner have the ability to deduct real estate taxes from their taxes every year as well.*

12. The market is getting stronger so less potential for financing issues should arise. Colorado Springs is in a stabilizing market not declining.

13. In the year a home is purchased, the cost of obtaining a loan, origination, discount points, and pre-paid interest are tax deductible.*

14. A home owner will pay NO capital gains taxes if they sell their primary residence. This is as long as the capital gain is less than $250,000 for singles and $500,000 for married couples. This is only on the gain not on your sale price. If you bought your home for $300,000 in 2005 and sold that home for 500,000 today your gain would be $200,000 tax free.*

15. Currently the troop level at Ft. Carson is approximately 18,000. That level is anticipated to go to 23,000 by 2009 and 28,000 by 2011. Troops. spouses, and family will account for an approximately 70,000 additional people in the Pikes Peak Area by 2010. This is a great time to be an investor in a rental home or buy now so you can take advantage of appreciation.

* Please contact your Tax Advisor for Specifics
**Subject to Terms and Conditions with Lending History and Daily Loan Pricing

Jay Carden
Broker Associate
719-322-4939
Search Colorado Springs MLS for FREE

How to Avoid Foreclosure

Brentwood TN Homes and Real Estate — Thu, 04 Dec 2008 15:48:00 GMT

Brentwood TN Real Estate and Homes for Sale Foreclosure is a very stressful ordeal. Many homeowners that are facing foreclosure avoid dealing with the facts that put them into this situation in the first place. While there are some home owners that knowingly...( read more ) Read More......(read more)

Technology is Scary

Rich Levin — Thu, 04 Dec 2008 15:41:00 GMT

I was recently on a Mastermind call that completely overwhelmed and excited me. Mastermind is an exclusive group of Real Estate speakers on various topics. We meet once a month to share ideas and exchange information. This month we spoke with Fran from Trulia about the importance of having an online presence and how to go about it. I took about 10 pages of notes in the 45 minute call, I then handed them off to my assistant to sort through the information. She recently added me to Digg, Trulia, Facebook...(read more)

Search Homes for Sale in Some of the Best Neighborhoods in the Jacksonville FL Area

Mike Schwiebert — Thu, 04 Dec 2008 15:29:00 GMT

If you are looking for a home for sale in anywhere in Northeast Florida such as Julington Creek, Orange Park Country Club, Oakleaf Plantation, Durbin Cossing or anywhere else, you can find your perfect home at MrOakleaf.com. Simply click on the neighborhoods listed below and you can sell the homes available in that area. If there are any areas that are not listed that you would like a list of homes emailed to you, contact me and I will send the list right over. Enjoy!

Orange Park Country Club

Event: Tampa Bay Heralds of Harmony Christmas Show at Tampa Bay Performing Arts Center, Sat, Dec 13 7:30p

Florida Mortgage Blogger — Thu, 04 Dec 2008 12:58:21 GMT

Enjoy songs of the season and the Christmas Story told in narrative and four-part harmony at the 11th Annual Heralds of Harmony Christmas Show, Dec. 13 at the Tampa Bay Performing Arts Center. Special guests are The Humdingers and Liberty Voices....(read more)

Connect in Manhattan

Marjorie Taylor — Thu, 04 Dec 2008 12:14:00 GMT

Leaders in Real Estate finance and technology will be on hand next month at the 7^th annual Real Estate Connect in New York City. (Here)

Attendees are promised to be given the tools and techniques that we need to compete in the current revolutionary real estate market.

These leaders will chart out the future of our industry and help us better understand the new ways we will have to do business in the next few years. We can find out what is going to happen to our market in 2009 to understand what the future of the real estate industry will look like. We will learn how top companies are cutting costs and staying profitable, in a down market. We will discover new technologies and learn how to build a killer web site, as well as our personal brand online.

The conference will focus on three segments.

1) Market - where are we going, how is the industry changing and what is our roadmap to the future.

2) Technology - how it will generate new ways of thinking of the market and create a more efficient and cost effective transaction. It is technology that will bring us out of this economic and housing market slump.

3) Global Innovation - Entrepreneurs from all over the globe will share new ideas and new ways to look at and do business in our world.

I am planning on attending this year's Real Estate Connect. Not only am I anxious to learn more about my industry, and improve my business, the After Holiday shopping in Manhattan will be incredible!

Marjorie Taylor

Homes in St Augustine

904-591-9121

MarjTaylor@comcast.net

www.SeaGroveStAugustineBeach.com

Specializing in Homes in St Augustine

Ann Arbor and Saline, “Let’s Say Thanks”

Ann Arbor Real Estate Talk — Thu, 04 Dec 2008 04:24:31 GMT

...(read more)

Dual Agency: Negotiator or Mediator?

Brian R. Madigan LL.B. — Thu, 04 Dec 2008 01:08:00 GMT

Dual Agency: Negotiator or Mediator

By Brian Madigan LL.B.

There is a basic presumption underlining the discussions of dual agency and that is, an agent should be a negotiator and not a mediator.

Maybe that’s true, and maybe it’s not!

However, many agents are very, very poor negotiators. In fact, it’s not taught as part of the program. Nor is it taught in Law school. So, why all the fuss? What good is an agent-negotiator if they are not any good at it? In all fairness here, some agents have little or no experience and are poor negotiators. Ordinarily, I might point to the legal profession for some assistance but oftentimes they are just as inexperienced.

That does leave us with some excellent negotiators, and while some may be agents, and others may be lawyers, most are clients themselves. For some reason, great negotiators are people who are constantly negotiating in their lives. Their expertise is derived from experience, not books. And, when it comes to a real estate deal, they will excel. This is a good client to have, and an inexperienced agent can learn a lot.

Let’s look at the dual agency limitations and restrictions and see if they have an impact?

Here are the rules, the agent must not:

• Reveal confidential information
• Reveal other offers
• Disclose price information
• Disclose motivation

Does this makes any real difference to the negotiating process? Remember, the agent knows the confidential information, they just can’t tell. They can’t say anything about other offers even though they know about them too. Further, they cannot mention the lowest price the vendor would accept, or the highest price the purchaser might offer, although they also know this, as well. If the seller needs to sell, or the buyer needs to buy, they can’t pass any information along to the other party. However, if one party specifically wishes to disclose and volunteer such information then, that could be reported.

What this means is that some very important information is missing. The agent knows it, but the client does not. The clever client will obtain this information from another source. It may very well be in the public domain, or known to the neighbours.

The dual agency rules are designed to neutralize the agent’s negotiating position/power. However, as I mentioned before, what if the agent is not a very good negotiator, what’s the loss? Maybe, nothing!

Mediator/Messenger

There are two roles for our agent now limited by the dual agency rules. The agent can either be the mediator or the messenger. The first takes skill, experience and a degree of dexterity, the latter is simplistic, anyone can do it.

A skilled mediator can be more valuable in the proceedings than a skilled negotiator. Listen and hear both sides, then seek an acceptable compromise. You find this all the time in labour negotiations. The battling goes on for months back and forth between skilled and experienced labour negotiators without a successful conclusion. Then, a mediator is appointed who drives the deal home!

The right role here is mediation.

On the low end of the spectrum, we have agents who simply carry messages back and forth between the parties. I’m embarrassed to say that is what happens most of the time.

One side may be better at negotiating than the other, so they usually achieve a result closer to their initial position. At the same time, those less skilled, end up with a poor result. These clients are the ones who should complain. These clients did not get what they bargaining for. These clients have nothing to show for the fact that they signed a representation agreement. They hired a negotiator and got a messenger. What was that all about?

In fact, the fees were the same. You might have thought that there would be a reduction. But, not at all….same fees……less service. Also, the agent’s liability was decreased from a legal perspective in this arrangement. You might wonder why?

COMMENT

1) messenger

Now, my point is this: hiring an agent and getting a messenger doesn’t make any sense at all. If this is the case, then the consumer groups have it right. Dual agency is wrong. It should be abolished. It’s simply unconscionable double-dipping by the real estate industry.

2) poor negotiators

My second point is that many agents are poor negotiators, so if this role is removed, what difference does it make. Perhaps, none!

3) mediator

My final point is mediation can and does work. A skilled mediator can bring an excellent result to both parties and achieve an agreement in circumstances in which negotiations would be fruitless. The result is that in some cases, dual agency with its inherent conflicts can produce a mediated result. That can be beneficial, and in that regard, there is a benefit in dual agency situations. It doesn’t occur all the time, but it occurs frequently enough to warrant serious consideration.

The unintended result of dual agency can be a successful mediation.

So, while I’m philosophically opposed to dual agency, I have to admit with the right mediator, there can be a good and effective result for both parties.

Brian Madigan LL.B., Realtor is an author and commentator on real estate matters, Coldwell Banker Innovators Realty
905-796-8888
www.OntarioRealEstateSource.com

Wordless Wednesday's in Saline Michigan

Ann Arbor and Saline Michigan Real Estate — Thu, 04 Dec 2008 01:07:13 GMT

Photo taken by Missy Caulk , taken the day after Thanksgiving with Melina and Allyssa. I have no idea who started this, but I have enjoyed looking at all the photo's so this is my first Wordless Wednesday. If you're not to have words then post Read More......(read more)

Village of Pinecrest Real Estate

dienerph — Wed, 03 Dec 2008 23:01:09 GMT

Village of Pinecrest Real Estate

The proud community of Pinecrest has some of the best schools in the nation and encompasses approximately 8 square miles of ranch style, estate homes, condominiums and townhouses; offers all the amenities of the Greater Miami area while having a secluded rural atmosphere east of US 1.
The community of about 20,000 residents is surrounded by many large parks lined by giant Banyan trees, ponds and lush tropical landscapes with facilities for tennis, football, basketball, bicycling and walking among other amenities are regularly enjoyed by its residents. The area was for more than 40 years the site of Miami’s Parrot Jungle, today a community park Pinecrest Gardens, features winding nature pathways dressed with exotic colorful flowers, murmuring streams and water lilies covered ponds. Great family events, lectures and concerts are regularly held for the benefit of the neighborhood in this idyllic venue where people is urged to drop life’s pressures behind its doors. In addition, the community has lay out big plans for its future and recently held the ground-breaking ceremony of its community center and library scheduled to be completed in 2008.

Upscale shopping centers bordering the western side of the village adds to the convenience of the peaceful upscale environment of Pinecrest and the close proximity to well known shopping malls like Dadeland Mall and the Falls makes Pinecrest a highly sough after neighborhood.

Is Your Realtor Presenting All Offers To You?

Renee Porsia — Wed, 03 Dec 2008 22:40:00 GMT

Posted by Renee Porsia under For Buyers, For Sellers, For Realty Professionals, General Information, RE/MAX, selling, buying, Renee Porsia, NAR, Philadelphia Market Statistics

I just wanted to blog about the Realtor’s role as a seller’s agent. I can’t tell you how many times I had a buyer and called a listing agent to let him/her know that my client wanted to submit an offer and I heard “how much is it?” And as soon as I told them I heard “oh, well don’t bother wasting your time writing it, my client won’t accept it.” What many Realtors do not know or perhaps maybe they do but do not understand is that it’s not their decision as to whether their client will or will not accept the offer. It’s their job to present each and every offer that comes in whether its a dollar or a million dollars. If a seller does not want to accept an offer they are supposed to write the word decline on the offer along with the date and signature. If the seller wants to counter the offer with a higher offer it can be done right on the Agreement of Sale. If the seller never receives the offer then there can be no negotiations.

Sometimes, Realtors make things personal. It’s not their job to make things personal. That’s why seller’s hire Realtors, to take the emotion out of the transaction. When a Realtor makes things personal, it’s the seller who winds up getting hurt.A seller could wind up losing out on a very good offer just because the Realtor decided to make a decision for them not to know about the offer. Most offers come in low but many buyers are willing to negotiate and tend to want to test the waters and if the seller agent decides that he/she doesn’t like the offer or even if he/she doesn’t like the buyer agent then their seller will never get the option to accept, decline or even counter the offer which is not fair, not in the seller’s best interest and I believe it’s not ethical.

Many sellers would be surprised to know that many offers go unseen just because their Realtor didn’t like the offer or even the buyer agent presenting the offer. So, how can you be certain that you are seeing every offer? You can simply communicate to your Realtor that you want to see each and every offer whether it’s one dollar or a million dollars. You can state that you want to have the option to decline an offer in writing. If you still do not feel comfortable that you will see every offer, put what you want in writing right on the listing contract and have your Realtor sign and date it. You will have a copy as well as your Broker. After all, this is your home, not the Realtor’s home. Shouldn’t you be the one in control?

Don’t miss out on any offers. If you have any comments or questions about my blog on presenting all offers, feel free to leave a comment or contact me.

Can Your Realtor Ruin A Good Offer On Your Home?

Renee Porsia — Wed, 03 Dec 2008 22:32:00 GMT

Posted by Renee Porsia under For Buyers, For Sellers, For Realty Professionals, General Information, RE/MAX, selling, buying, Renee Porsia, NAR, Philadelphia Market Statistics

I can’t tell you how many times I called a listing agent to tell them I was going to be writing an offer for my buyer on one of their listings and heard “how much is it” or “I’m expecting 2 offers” or my personal favorite “It better be good because I have 2 other offers.”

First of all, expecting offers isn’t “having” offers. Also, lets remember that it’s not the listing agent’s home and therefore the listing agent shouldn’t be making comments like “it better be good because I have two other offers.” It makes the agent look bad. What they should be saying is “Great, the more the merrier.”

The agent was hired to obtain offers not to discourage offers and by making those comments, they could wind up costing their seller a very good, strong offer and in this market, offers are hard to come by.

How could those statments ruin a good offer? Well, by making those statements to the buyer agent, the buyer agent will go back and tell their client exactly what the listing agent said and therefore the buyer could wind up backing off on their offer because they do not want to wind up getting into a possible bidding war or feel that his/her offer might not be high enough to compete with those “other” offers.

Don’t get me wrong, there are ways of calling an agent’s bluff when they say they have other offers and I have no problem calling them on it when they make those comments to me.

So, how can a buyer agent call a the bluff of a listing agent you ask? Well, there is my all time favorite weapon called an “Escalation Clause.” Essentially the Escalation Clause can be thought of in the context of plaing poker and showing your hand. Basically, the clause says that the buyer will increase his/her offer in little increments of whatever the buyer chooses but not to go over a certain price if the listing agent has another offer that is the same as the buyer’s or higher. So, for example if the listing agent has another offer of $200,000 and the buyer’s offer is $200,000. With the Escalation Clause the buyer’s offer would increase in increments of $500.00 which will increase the buyer’s offer to $200,500 but not to go over the offering price of $210,000. Many Realtors are unaware of the Escalation Clause and many do not understand it. I however like to use it when absolutely necessary.

So, you may be saying “what if the listing agent just says they have another offer. How can the buyer be certain there really is one?” Well, the Escalation Clause states that the buyer has the right to see that other “offer” or “offers.” How great is that??

Another way the listing agent could ruin a good offer for their seller is to take offense to the Escalation Clause written into the Agreement of Sale on behalf of the buyer which by the way, was written into the Agreement of Sale by the buyer agent in order to “PROTECT” his/her buyer from the listing agent’s statments about having other offers. The listing agent in essence gets angry that the buyer agent called their bluff for simply doing their job.

I am not saying every Realtor behaves this way but there are many who do. What they fail to realize is that their comments can hurt their seller and that is not why they were hired.

To ensure the Realtor doesn’t ruin ANY offers for their client, the Realtor should practice self-control,discipline, professionalism and tact. They should also keep in mind that every offer no matter how large the sale price or how little the sale price its not for them to decide which offer is the best offer for their client. Every offer should be presented no matter what.

To make certain your Realtor doesn’t say the wrong thing and wind up discouraging buyers from writing offers on your home, be sure to set the rules right up front when you hire him/her. You can tell them not to say anything to the buyer agent that could be taken the wrong way. You can tell them you want them to encourage buyer agents to bring offers not to discourage them and put it right into your listing agreement what you expect from your Realtor.

This is your home and you deserve the right to decline, counter or accept all offers.

Zolve

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Is Your Realtor Presenting All Offers To You?

Posted by Renee Porsia under For Buyers, For Sellers, For Realty Professionals, General Information, RE/MAX, selling, buying, Renee Porsia, NAR, Philadelphia Market Statistics

Can Your Realtor Ruin A Good Offer On Your Home?

Posted by Renee Porsia under For Buyers, For Sellers, For Realty Professionals, General Information, RE/MAX, selling, buying, Renee Porsia, NAR, Philadelphia Market Statistics

Bristol Tower Brickell Condominium address:
2127 Brickell Ave. Miami, Fl. 33129