“I’ll get the best deal if I work with the listing agent.” This is a mindset that some buyers have as they consider purchasing a home with dual agency. If real estate were like boxing, it’s similar to the corner person for one boxer trying to strategize for both boxers – during the match. This imperfect analogy illustrates that there are some real pitfalls to a dual agency strategy. In fairness, the “I’ll just use the listing agent” strategy can also work in a buyer’s favor. Join me as I give a quick crash course on dual agency, agency roles, and the pros and cons to having the listing agent represent you on a real estate purchase when you’re the buyer.
Whether you’re a buyer or seller of real estate, you may find yourself wondering, “What is an earnest money deposit?”, and why does it matter to me? Even if you haven’t run across the term yet, you likely will once you are making or receiving an offer. Norms and laws around earnest money deposits can vary significantly in different real estate markets. My information is based on my experience as a real estate agent in San Diego, California, however many of the details shared here will still be useful to buyers and sellers outside California. Join me as we dive into the ins and outs of the earnest money deposit and its vital importance to buyers and sellers.