Palo Alto Sellers, Should Your Real Estate Agent Represent A Buyer?

There is an easy answer to the question should the real estate agent for the Palo Alto Seller also represent the buyer?

NO NO NO NO NO NO NO NO NO NO NO!!!!!!!

Should I say it again? NO!!!!!

There are many reasons why Palo Alto real estate agents should not represent the Palo Alto buyer and Palo Alto seller from the Palo Alto real estate agent's perspective, but this blog is about why is is not good for the seller.

Selling a home in Palo Alto is a big deal. There are very few on the market, right now only 25 single family Palo Alto homes are for sale. There are hundreds of people trying to buy a home in Palo Alto so each home that is for sale in Palo Alto will most likely get many offers, especially if it is listed for less than 2.5 million. While it is not illegal for a Palo Alto real estate agent to represent both the buyer and seller in a single transaction it is pretty impossible to be objective when there are 20 offers and your Palo Alto Real Estate agent is representing one of them. 

When you sell a home in Palo Alto your Palo Alto real estate agent should be able to guide and advise you as to which is the best offer, what is the best way to counter, or not counter, what are the pros and cons of each offer. If your Palo Alto real estate agent is also one of the buyer's agent, just how objective is that advice going to be? 

So, when you you are selling a home in Palo Alto make sure that your wishes about the Palo Alto real estate agent's representing or not representing a buyer are known up front. If you don't want it (which I hope you dont't,) get it in writing 

with the listing agreement.

If you have any questions about selling a home in Palo Alto, please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

No It's Not Okay For One Agent to Represent More Than One Buyer in a Menlo Park Short Sale

This is so inherently unethical I can not believe I am actually writing a blog about this, but a buyer asked me this question today and apparently it is happening. 

I have a short sale listing in Menlo Park and offers are due by the end of the day on Tues.  At thus point I have 2. It is in Belle Haven,  a popular area for investors and is close to the the new Facebook Headquarters so the appreciation prospects are good.

Today I got a call from an investor who asked if I would represent him. I told him I do not double end deals as a general rule, and never do it in a multiple offer situation. I gave him the name of an associate who could help him.  He then asked if this person would be representing multiple buyers. I was shocked. If being a dual agent does not seem right to me, representing multiple buyers is beyond all sense of ethical behavior. The investor told me he has bought and sold many homes and this practice has been coming up recently.

All I can say is not on one of my listings, no way, no how.

If you have any questions about buying or selling short sales in San Mateo or Santa Clara Counties please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194