Linda Casale's Real Estate Blog
Enjoy a conversation about the practice of real estate here on Whidbey Island , as well as the issues and events that affect real estate values. If you have any interest in Whidbey Island real estate, I think you will find this a valuable resource. You will find great information about local Whidbey Island real estate such as current market conditions, Island County regulations that affect property value, as well as tips on get your home sold for top dollar, or how to choose a realtor.
Entries in Buying Advice (2)
Dual Agency - The 007 of Real Estate?
No, dual agency is not James Bond deciding to spy for the Russians too. If you are thinking about buying or selling real estate you should know about dual agency. First, what the heck is it?
Dual Agency is when a real estate agent represents both the buyer and the seller in the same real estate transaction. Agents call it being on "both sides of the deal."
It is important to know that it is absolutely legal. The state of Washington, along with most states allow real estate agents to represent both parties at the same time. But just because it is legal, does not mean that it is necessarily a good practice.
Linda Casale
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60 Minutes
On Sunday May 13th, 60 Minutes aired a segment entitled "Chipping Away at Realtors' Six Percent". The premise of the story is that the traditional 6% commission structure is under pressure from the Internet brokers. Here is their lead in to the story:
"But as correspondent Lesley Stahl reports, things are beginning to change. What happened to travel agents, stock brokers and book sellers – the encroachment of the Internet – is beginning to affect real estate agents. And the sacred six percent is under assault from online discounters."
The only problem with the story is that it isn't supported by the facts.