This is from the AAR Consent to Limited Dual Representation form:
The Broker now represents both Buyer and Seller and both parties understand that neither Broker nor Broker’s Licensee(s) can represent the interests of one party to the exclusion or detriment of the other party.
The important word is “detriment”. I think the argument I posted yesterday eats that language entirely. The implication is that any dual agency that makes it before a judge will lose. There is absolutely no way to comply with that language. The only method even conceivable is to leave both parties flailing stupidly like FSBOs and BUBBAs.
But: We do end up with an excellent argument against FSBOs and BUBBAs: There is absolutely no way non-professionals can achieve professional-quality results in a real estate negotiation. They simply don’t know what to do, and they don’t even know that they don’t know it.
I’ll summarize later, but I think my own position is quite a bit stronger than it was on Friday. I do have ideas for alternatives, and I’ll go through those as well.
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