Can A Real Estate Agent Represent Both Buyer And Seller?

Can a real estate agent represent both buyer and seller at the same time? There are a lot of differing opinions about this so watch this video to learn all about the technicalities of doing a dual agency!

Welcome back to the channel, everybody. It’s Nathan Payne. And today we’re gonna be talking about if a real estate agent can represent a buyer and a seller at the same time, and why that’s important to know if you’re a real estate investor and trying to get deals.

You should watch this video because knowing whether or not a buyer and a seller can be represented by one agent can really help you get more deals as a real estate investor, if you know how to work with real estate agents. So stay tuned. By the end of this video, you’re going to know exactly if real estate agent can represent a buyer and a seller, you’re gonna know exactly why real estate agents won’t represent a buyer and a seller, I’m going to tell you exactly why they should represent buyers and sellers and do dual agency and I’m going to tell you why you should work with real estate agents that are open to doing dual agency and double dipping, as they call it, or representing the buyer and seller. Stay tuned, I’m ready to cut the fluff out. I’m just going to tell you straight give it to you straight. Yes, yes, sellers, and buyers can be represented by one agent. But there’s a caveat to that. It really depends on the market, they’re in some. And by market. I mean state, some states don’t allow you to do dual agency. So what the heck do you do? If you want agent to represent you as a buyer and a seller? If you want them to do both? Well, you got to do this. So what do you do if you’re one of those states, that agent can’t represent a buyer and seller do dual agency double dip, whatever you want to call it? Well, what you can do to get around that is you can have the agent connect you with someone in their brokerage, someone in the same brokerage or another agent they know. And usually what they’re able to do is just network with each other, pay each other do something I don’t know what they’re doing. But that’s how you get around it right? Whether they’re paying each other, the commission or under the table. So if you reach out to an agent say, Hey, I see you’re selling this property, would you I don’t have an agent, can you represent me as the buyer, so that agent, he’s not only going to get the 3% from listing it with the seller, but he’s gonna get 3% from you for being the buyer. So he’s gonna make 6%. And he’s super motivated to do it. Because he wants to make double his commission, he can do it. But if he’s not able to, because of the dual agency or whatever state he’s a part of that doesn’t allow it, you can say, hey, that’s fine, just connecting with someone, your brokerage, and they can represent me and agents love that. That’s how they do it. And that’s how you get around it. So why the heck would some agents not want to get double the commission and do dual agency? Well, if they’re in a state that doesn’t allow it, then they don’t allow it. But if they’re in a state that allows it, they say they don’t do that, usually the point that they bring up is they think it’s unethical, they don’t want to put their own interests in front of the interests of the seller, where they’re trying to just accept someone’s offer, that might not be their best offer. And then you know, just to make both sides of the commission, because that’s what a lot of real estate agents that work with buyers do is they represent, maybe someone’s going to flip it right. But it’s not unethical if you’re telling the seller all the offers that are coming in, and you’re letting them know that whoever you’re bringing in as a buyer, this is their offer. So I mean, it’s really up to how you do business. So people that say they don’t do it because they think it’s unethical or wrong. I mean, there’s probably just not being transparent with the seller and just telling them what’s available. But the cool thing is, if you they do do it, they make double the commission, like I was saying, if real estate agents want to double their income, then they need to get tight with flippers, people that are purchasing properties. And all they have to do with sellers is just say, hey, seller, I can list your house for 3%. But if you want, I know a couple buyers in my area that instead of us having to list this house, I can just run it by them. And if they’re interested, I can bring them obviously I’d represent them as the buyer. But that way, you don’t even have to list this thing. You don’t have to worry about it, I can just get it done for you really quick. So he reaches out to his buyer, the buyer, he represents the buyer and the seller, he makes double the commission, and he gives the seller great option, a great opportunity to get the house sold really quick. So the fact that agents don’t want to do dual agency, even if you’re in a state that doesn’t do it, you can use someone for brokerage, the fact that you’re not doing it, you’re leaving tons of tons of money on the table. And that’s stupid, in my opinion, especially if you can be transparent with the seller and just say, hey, look, we can list this thing. But if I have some people that can buy your house, you want me to check it out, you only see what they offer. I mean, it’s a no brainer. Why doesn’t every real estate agent do that? And if they think it’s unethical to do that, well, they’re they’re just not telling the seller the whole story. So guys, if you’re a real estate agent, you don’t do this stop losing out on money. But before I move on to the next point, I want to give you something and I think it’s something that’s really going to help you especially with this topic. Now if you want to start working with real estate agents and making offers on the MLS and trying to get deals, you need a script, you need the denim that you need them to sign if they accept your offer. If you’re going to wholesale you need all these tools. And what I’ve done for you is I’ve compiled all these tools and I put them in the payneless wholesaling. mindmap I literally lay out the whole process of how to do deals with real estate agents on the market. And I put it in a mind map for you to go get. So grab it, go click on the link, and I know you’re gonna love it. Because you know what, guys, I spent a ton of money to put get all those materials for you. And I’m just giving it to you for free. So check it out. So this topic might sound pretty familiar to you. Can a real estate agent represent a buyer and seller? And as we’ve talked about, yes, it can. But one of my mentors, one of the great mentors I have is Jerry Norton, he talks about this all the time, he talks about the double dip strategy. And what that is, is you’re looking for properties on the market on the MLS that look distressed, or they don’t even have to be distressed, but you’re just making offers to agents. And what you do is when you call a real estate agent, you just say, hey, I’m interested in making an offer on this property. Before I you know, we dive into me asking more questions about the property, I want to know I’m unrepresented. Would you be willing to represent me in this transaction? So you can get both sides of the commission? And usually what the agent says, Yeah, of course. And if they don’t, they say, Oh, I don’t do that. You say, Okay, that’s fine. Would you be able to connect me to someone in your brokerage that could represent me just because I’m unrepresented? And you know, love to work with you. So that’s the double dip strategy. And what happens is, if that agent says, Yes, I can represent you, they write up all the paperwork, you’re almost on the same team, because they want the deal to get done. But of course, they’re not going to be able to force the seller to accept your offer. But the cool thing about working with the agent together is you can just, you know, try and get the deal done. And it benefits the seller, because you get it done quickly, benefits agent because they can make both sides, the commission and you develop an awesome relationship with an agent that maybe they’ll send you more deals like I talked about previously in this video, where you can work with them, and they can send you deals to people that maybe don’t they want to list it, but they don’t want to hassle with waiting. So maybe they want you to run it by your buyers. And you can be that new buyer for that real estate agent. So been working with real estate agents and presenting the double dip strategy wherever you want dual agency, whatever you call it, it is one of the best strategies to getting deals with little to no well actually there’s no marketing spend. So no marketing spend. And that’s why it’s such a cool strategy. So why should you be making offers on the MLS and working with real estate agents? Well, number one, it’s free as a wholesaler as a real estate investor. There’s a lot of strategies that cost money you have you know, if you send out mailers that cost money if you send out text messages, cold calling bandit signs, if you do pay per click, I mean the list goes on of the way you can market sellers RVM but if you just are making offers to real estate agents that’s free, you can go online, just look for distressed properties on Redfin, Zillow, MLS, whatever you can make offers and it doesn’t cost you a cent. That is one of the reasons why you should start making offers on the MLS. Another reason why you should be making offers on the MLS is because we’re transitioning from a seller’s market to a buyers market, there’s gonna be a lot more distressed sellers hitting the market because they can’t just sell their houses like that. And guys, look, I’m a cash buyer. There’s a lot of wholesalers, a lot of cash buyers out there, I think 90% of people list their property when they need to sell the real estate agent. A lot of them don’t even know about cash buyers, or maybe even trust cash buyers or go on the our websites or go try to find us or call or postcards, they are going to hit the MLS and that is going to be the best network to find deals. The best way to go work with people and find distressed properties that you can flip or you can wholesale. So if you’re not using the MLS, that’s dumb, go do it. Another reason why working with real estate agents that are willing to do the double dip or if they can’t, they have someone there brokerage is it can be a pipeline, it can be a flowing pipeline of deals that can come in. If you deliver and you have good relationships with these real estate agents, they’re not just going to work with you on one deal, they’re going to bring you more and that’s why working with real estate agents they’re willing to do the double dip strategy. They’re willing to represent buyers and sellers is a great, great thing because you can get more than one deal from it. And that’s really important. It’s all about your network. It’s about developing relationships and getting more deals so your business can stay afloat or not even afloat but crushing it Okay, so if you guys are thinking Oh dude, I can’t get deals off the MLS that’s crazy. I just did one all right, I just closed on a deal. I JV with someone in one of the programs that I work with. And they got a deal that was $22,000 It was $22,100 off of properties listed on the MLS Okay, so you can do deals off the MLS we wholesaled it to a buyer that I have and we split that fee because I JV with people I help them find buyers like as we talked about in previous videos, and they brought the seller we connected and we split it so it is very possible make offers on the MLS and deliver go to my next video on How to close a sales deal in real estate if you want to implement what I’ve been teaching and talking to you about so you can make money