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Mistrust of Real Estate Agents: Navigating the Concerns

Published by

Dylan Kohler

Published on

6/14/2024

In the world of real estate, trust is paramount. Yet, many potential buyers and sellers approach transactions with a healthy dose of skepticism. This mistrust can stem from various practices within the industry. Let’s delve into three significant concerns: dual-agency, private exclusives or off-market deals, and the quick sale versus highest price dilemma.

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1. Dual-Agency: Conflict of Interest?

Dual-agency occurs when a single real estate agent represents both the buyer and the seller in a transaction. On the surface, it may seem convenient, but it can also lead to conflicts of interest. Critics argue that an agent cannot impartially serve two parties with opposing interests. For instance, the seller wants the highest possible price, while the buyer aims for the lowest. In such scenarios, whose interests take precedence?

To mitigate these concerns, some regions have stringent regulations governing dual-agency. However, transparency remains key. Buyers and sellers should ask agents upfront if they practice dual-agency and understand the potential implications before proceeding.


2. Private Exclusives and Off-Market Deals: Transparency Issues

Private exclusives or off-market deals are another contentious issue. These transactions occur when properties are sold without being publicly listed. While off-market deals can offer privacy and exclusivity, they can also reduce transparency and competition, potentially affecting the sale price.

Sellers might miss out on achieving the highest possible price due to limited exposure, while buyers may feel excluded from attractive properties. It’s essential for sellers to weigh the benefits of privacy against the potential for a higher sale price through broader market exposure. Buyers, on the other hand, should work with agents who have access to these private listings but also ensure they're being shown all available options.

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3. Quick Sale vs. Highest Price: What's the Agent's Priority?

Agents often face a choice between pushing for a quick sale or holding out for the highest price. Some agents might prioritize a fast sale to secure their commission sooner, possibly at the seller’s expense.

Sellers should communicate their priorities clearly. Do you need a quick sale due to timing constraints, or is maximizing your profit more important? A reliable agent will align their strategy with your goals, providing data and advice to help you make an informed decision.

Building Trust: The Way Forward

Snapdoor addresses each of these seller concerns head-on.

1) Snapdoor simply doesn’t engage in dual-agency. In every transaction, we represent only one side.

2) We never do deals privately – we believe in maximizing exposure for every listing.

3) Our bidding platform ensures that you get the highest and best offer. It also allows you to review and accept the offer that’s right for you. We follow your lead.

Snapdoor is committed to clear communication, transparency, and serving our clients’ best interests.

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