Selling agents in DC asking to sign a dual agency agreement

[Anonymous]

Anonymous wrote:OP here - I asked the agent to share the rule and said I contacted the association and they asked for the agent’s name. She quickly reverted 2 hrs after offering to show the property without any agreements

Good to hear.

I suggest getting a real estate attorney on retainer. The retainer (usually a few thousand) does not get spent unless you need billable time. Many firms will bill at different rates depending on the legal expertise needed; for instance, simple contract work gets the low paralegal/administrative fees, and lawyer work gets the lawyer fees. Your remaining funds are returned when you are finished.

Even if you don't need legal, it makes a difference when the listing agent knows you have legal on retainer. Good agents will see this as a benefit, that the process is more likely to proceed smoothly. Bad agents are put on notice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here - I asked the agent to share the rule and said I contacted the association and they asked for the agent’s name. She quickly reverted 2 hrs after offering to show the property without any agreements

Good to hear.

I suggest getting a real estate attorney on retainer. The retainer (usually a few thousand) does not get spent unless you need billable time. Many firms will bill at different rates depending on the legal expertise needed; for instance, simple contract work gets the low paralegal/administrative fees, and lawyer work gets the lawyer fees. Your remaining funds are returned when you are finished.

Even if you don't need legal, it makes a difference when the listing agent knows you have legal on retainer. Good agents will see this as a benefit, that the process is more likely to proceed smoothly. Bad agents are put on notice.

Good idea. I’m a small developer myself and work already with a real estate attorney. So no additional retainer would be needed

[Anonymous]

Anonymous wrote:I'd report them to DC real estate commission.

This! They are trying every trick to hold on to their cartel. Report them for unethical behavior. They are not acting in their clients' best interests. FWIW, almost 20 years ago I sold an "interesting" house. It was not your typical house. It was designed by a local celebrity architect and required a particular buyer to be willing to pay the premium. As part of the agreement with the listing agent, I asked her to be present at every showing herself (rather than just passing along the code to the lockbox). She did a fabulous job representing me. And I recommended her to every friend that was looking for a realtor. I recently moved back to that area she helped me find my next home. I would have paid her out of pocket, had the seller not offered a buyer agent's commission for two reasons:
(1) Sentimentality. I was going through a difficult time 20 years ago and the agent really helped me.
(2) I was an out-of-town buyer and could not just go to endless open houses and deal with listing agents directly. She previewed and weeded out many houses for me.

And although I needed a buyer's agent and would have been willing to pay out of pocket, many buyers will make a different decision. The point is that the buyers are now in charge and can make choices that align with their needs and preferences.

[Anonymous]

This is illegal, OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here - I asked the agent to share the rule and said I contacted the association and they asked for the agent’s name. She quickly reverted 2 hrs after offering to show the property without any agreements

Good to hear.

I suggest getting a real estate attorney on retainer. The retainer (usually a few thousand) does not get spent unless you need billable time. Many firms will bill at different rates depending on the legal expertise needed; for instance, simple contract work gets the low paralegal/administrative fees, and lawyer work gets the lawyer fees. Your remaining funds are returned when you are finished.

Even if you don't need legal, it makes a difference when the listing agent knows you have legal on retainer. Good agents will see this as a benefit, that the process is more likely to proceed smoothly. Bad agents are put on notice.

I have dealt with lawyers quite a lot from corporate, divorce, IP, criminal etc and no-one returns your retainer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here - I asked the agent to share the rule and said I contacted the association and they asked for the agent’s name. She quickly reverted 2 hrs after offering to show the property without any agreements

Good to hear.

I suggest getting a real estate attorney on retainer. The retainer (usually a few thousand) does not get spent unless you need billable time. Many firms will bill at different rates depending on the legal expertise needed; for instance, simple contract work gets the low paralegal/administrative fees, and lawyer work gets the lawyer fees. Your remaining funds are returned when you are finished.

Even if you don't need legal, it makes a difference when the listing agent knows you have legal on retainer. Good agents will see this as a benefit, that the process is more likely to proceed smoothly. Bad agents are put on notice.

I have dealt with lawyers quite a lot from corporate, divorce, IP, criminal etc and no-one returns your retainer.

I’ve always had my retainer returned.

Did you not ask?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here - I asked the agent to share the rule and said I contacted the association and they asked for the agent’s name. She quickly reverted 2 hrs after offering to show the property without any agreements

Good to hear.

I suggest getting a real estate attorney on retainer. The retainer (usually a few thousand) does not get spent unless you need billable time. Many firms will bill at different rates depending on the legal expertise needed; for instance, simple contract work gets the low paralegal/administrative fees, and lawyer work gets the lawyer fees. Your remaining funds are returned when you are finished.

Even if you don't need legal, it makes a difference when the listing agent knows you have legal on retainer. Good agents will see this as a benefit, that the process is more likely to proceed smoothly. Bad agents are put on notice.

Why would you pay money to get an attorney on retainer just in case? Just have the listing agent send you the standard contract.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here - I asked the agent to share the rule and said I contacted the association and they asked for the agent’s name. She quickly reverted 2 hrs after offering to show the property without any agreements

Good to hear.

I suggest getting a real estate attorney on retainer. The retainer (usually a few thousand) does not get spent unless you need billable time. Many firms will bill at different rates depending on the legal expertise needed; for instance, simple contract work gets the low paralegal/administrative fees, and lawyer work gets the lawyer fees. Your remaining funds are returned when you are finished.

Even if you don't need legal, it makes a difference when the listing agent knows you have legal on retainer. Good agents will see this as a benefit, that the process is more likely to proceed smoothly. Bad agents are put on notice.

Why would you pay money to get an attorney on retainer just in case? Just have the listing agent send you the standard contract.

That's fine.

It doesn't cost me anything to put legal on retainer. I suggest it for reasons stated. But no its not a requirement.