One, I understand the complicated position a buyers agent can be put into when different clients are targeting the same house. Agents get paid when the deal closes, and the pressure is there to close the deal. Also, I understand that I’m not the only buyer out there. This would be naive. Under your proposed scenario I would be OK with my agent representing both parties — but only if they disclosed the conflict to both parties. If property specific information was communicated to the agent, I would expect the agent to not relay this information to a competing buyer.
Two, as you mentioned, following an ethical code may be seen as naive, particularly to agents who come from a dog-eat-dog perspective. This is short-sighted. One reason industries have ethical guidelines is to protect the credibility of the industry. Yes, this may come at the expense of a short-term gain, but these ethical guidelines are designed to reign in bad behavior that may damage the long-term profitability of the profession. Ethics are important because maintaining trust with your customer will sustain the INDUSTRY longer. Once participants lose faith in the quality of the product, then time to say bye bye product, and hello redfin, discount brokers and real estate laywers.
If R.E. agents don’t clean up their act, then there is little reason for them to exist. Without the trust, the expertise, and the exlusive relationship that are supposed to be offered to clients, then you are just left with a paper pusher. And paper pushers are cheap to hire.
Its comfortng to hear that you three are above the bar. I hope people pay attention.
