LISTING AGENT "DOUBLE ENDING" HOME SALE

Unlikely -  Your (Listing) Agent “Double Ending” Your Home Sale

During the first six months of 2017, the MLS reported two hundred ten (210) Arcadia (detached) home sales. Of those 210 sales, the listing agent also represented the buyer in thirty-six (36) of the sales. An agent representing both the seller and buyer in a transaction is commonly called “double ending”. In other words, from January thru June, 17 percent of Arcadia SFR sales were double ended.

After relating this figure to a number of agents in my office, many were surprised and thought the percentage would be higher. Most did agree that double ending usually occurs when a prospective buyer with no existing agent relationship becomes interested in a home via an Open House or other advertising medium. Subsequently the prospective buyer asks the listing agent to represent them  and draw up an offer which is accepted.

What does this 17 percent figure mean to a home seller interviewing prospective listing agents – discount agent statements “I have many buyers for your home” (list with me). More importantly, select an agent who is experienced, is ethical, knows the market, is a good communicator/listener and will execute a sound marketing plan.

By double ending a home sale, an agent will in most cases double his/her compensation by earning  a commission from “both sides”. It must be stressed that a listing agent who is representing both buyer and seller has the fiduciary responsibility to represent the best interests of the seller  and also has a fiduciary responsibility to the buyer.  Sellers that are concerned about a potential conflict of interest double ending scenario should discuss this concern with their agent before executing the listing agreement.