Premium Essay

Letter About Dual Agency

In:

Submitted By mrm185
Words 901
Pages 4
February 10, 2010

Ms. Amanda Walton
Longwood University Dept. of EML
201 High St.
Farmville, VA 23909

Dear Ms. Walton

Virginia allows houses to be sold through a dual agent or dual agency, where as it is illegal in certain states. Dual agency is a situation where a real estate agent or agency represents both the buyer and the seller of a home. Dual agents or agencies create a great conflict of interest and should be made illegal in the state of Virginia to ensure that people who depend on real estate agencies to buy or sell homes get a fair price and that their agency does its due diligence to do get that fair price.

When you go to sell your home would you want to have some worries in the back of your mind about if you got low balled by your real estate agent? Or when you buy a home is the agent trying to make you pay a higher price then you really have to? This is a worry most Americans have when selling or buying a home, but this problem is only intensified by the dual agency situation. The definition of a dual agent, according to homebuying.about.com, is

“A real estate agent who has signed a buyer agency agreement with a buyer who wishes to purchase a listing held by the agent or the agent’s firm. A dual agent must be loyal to both the buyer and the seller.”

The part where the agent must be loyal to both customers is where the problem arises. There is a huge conflict of interest as the agent has a responsibility to the seller to get the highest price and the lowest price for the buyer. From an article from www.realtown.com titled “Dual Agency”, Article 7 of the REALTORS® Code of Ethics states

“In a transaction, REALTORS® shall not accept compensation from more than one party, even if permitted by law, without full disclosure to all parties and the informed consent of the REALTORS® client or clients.”

It is the law in the states that

Similar Documents

Premium Essay

Imc Strategy Overview

...Agency: Real Estate under Virginia’s Agency Law Code of Virginia Agency Law § 54.1-2130. Definitions. As used in this article: "Agency" means every relationship in which a real estate licensee acts for or represents a person by such person's express authority in a real estate transaction, unless a different legal relationship is intended and is agreed to as part of the brokerage relationship. Nothing in this article shall prohibit a licensee and a client from agreeing in writing to a brokerage relationship under which the licensee acts as an independent contractor or which imposes on a licensee obligations in addition to those provided in this article. If a licensee agrees to additional obligations, however, the licensee shall be responsible for the additional obligations agreed to with the client in the brokerage relationship. A real estate licensee who enters into a brokerage relationship based upon a written contract which specifically states that the real estate licensee is acting as an independent contractor and not as an agent shall have the obligations agreed to by the parties in the contract, and such real estate licensee and its employees shall have no obligations under §§ 54.1-2131 through 54.1-2135 of this article. "Brokerage relationship" means the contractual relationship between a client and a real estate licensee who has been engaged by such client for the purpose of procuring a seller, buyer, option, tenant, or landlord ready, able, and willing...

Words: 4748 - Pages: 19

Premium Essay

Mnc's Analysis"Google Inc"

...almost all of the company's profits. The company was founded by Larry Page and Sergey Brin while both attended Stanford University. Together, Brin and Page own about 16 percent of the company's stake. Google was first incorporated as a privately held company on September 4, 1998, and its initial public offering followed on August 19, 2004. The company's mission statement from the outset was "to organize the world's information and make it universally accessible and useful" and the company's unofficial slogan is "Don't be evil.In 2006, the company moved to its current headquarters in Mountain View, California. Rapid growth since incorporation has triggered a chain of products, acquisitions, and partnerships beyond the company's core web search engine. The company offers online productivity software including email, an office suite, and social networking. Google's products extend to the desktop as well, with applications for web browsing, organizing & editing photos, and instant messaging. Google leads the development of the Android mobile operating system, as well as the Google Chrome OS browser-only operating system, found on specialized netbooks called Chrome books. Google has been estimated to run over one million servers in data centers around the world, and process over one billion search requests and about twenty-four petabytes of user-generated data every day. As of September 2009 Alexa listed the main U.S.-focused google.com site as the Internet's most visited website...

Words: 2138 - Pages: 9

Premium Essay

Job Seeking

...out from other job seekers. The next area discussed was Resume development. I thought this was another important topic for the class, as it helped me to learn how to develop and construct a professional style resume. The topic helped me to decide what experiences and education to include in my resume, and in what order to list these. I feel a professional style resume is a key component in job seeking, as it shows a level of professionalism and clearly states what I can offer to an employer. To go hand in hand with the resume development, we also developed cover letters. The cover letter I feel gives a more personal feeling to your job seeking as it is a chance for you to express yourself and what you feel you can provide to an employer, it can also give an employer a sample of your writing style and allows you to show a professional demeanor and style. The next topic I will discuss is references and thank you letters. References are an important area to focus on in your job hunt, as it is important to...

Words: 917 - Pages: 4

Premium Essay

Classroom Observation Paper

...were provided the Head Start Center. She spoke very proudly about the respectful working relationship she and her staff have with the Head Start Staff. The following items were also discussed: Child Find Efforts-Recruitment for Head Start A copy of the agency Child Find Letter was forward to Ms. Newton during the month of April. She replied confirming receipt of the letter. The letter was displayed in a visible location. According to Ms. Newton, the Early Intervention Program has referred several preschool...

Words: 636 - Pages: 3

Premium Essay

Persuasive Letter to an Adoption Agency

...Dear ABC Adoption Agency: Please allow this letter to serve as the reference letter required as a condition for consideration in the adoption application process for Jane Little, the prospective adoptive parent of Kylie. I understand that Jane was advised today that under current policy, she does not qualify as an ideal candidate due to your agency’s traditional preference for children to be placed in dual-parent families. Therefore, I intend to share my personal knowledge and experiences that will assist you in mitigating the common risk factors known to negatively affect children’s outcomes when raised in single-parent families. Jane and I share an uncommon, yet deep connection to one another, so it is my belief that the resulting closeness we continually developed over the course of the past decade highly qualifies me to serve as her best reference. First, I must give credit to my dear and elderly grandmother-in-law and her low tolerance to a single glass of wine for my introduction to Jane. During a holiday dinner in 2002, I learned that my newly wedded husband was the father of a boy placed for adoption at birth. Following what I consider to be a justified emotional outburst to that enlightening news, I was determined to locate this child and his adoptive family. I was about to give birth to my own child, a boy, and was now overwhelmed with the responsibility of robbing my flesh and blood of the opportunity to know the existence of his biological brother if I...

Words: 949 - Pages: 4

Premium Essay

Capstone Project

...EEO, and Affirmative action have been long covered in the form of a policy letter. Which is a formal document for the government typically on the military sector which dictates the rules and refers the document to official military regulations approved by the Department of Defense (DoD). The government has a very formal process when looking at how they select employees and search for new talent. I primarily work with the Army and the Army for both soldiers and civilians has a very formal process for training and professional development. The Army has a variety of training methods. Online training through multiple websites, and locations for resident training, many positions require formal training before permissions to certain systems. Selection Vacancies and Hiring Selection for government positions is done through a government website USAJOBS.gov. Each position is posted on this website and the posting gives salary range, open period-when you can apply, series and grade- who you work for and what starting salary you will earn, position information full-time, part-time and temporary, duty location, who may apply, what type of security clearance is required, and whether you are in a supervisory capacity or not. The postings also list whether travel is required, relocation authorized, mandatory requirements, if they will pay to relocate you. The bulk of the listing goes into details about the qualifications and duties of the position. There is a link on the page...

Words: 2567 - Pages: 11

Premium Essay

Marketing

...of students”. If any students post a study guide or completed study guide or any part thereof in or on any public or semi-public place, including but not limited to web sites, blogs, bulletin boards and sites like “studyhall.com” etc., I will consider this action a violation of the student code of academic integrity and the offending parties will receive a letter grade of “F” for the class. Be familiar with the following concepts and terms: 1. Agent broker. 2. Marketing channel. 3. Direct marketing channel. 4. Electronic marketing channel. 5. Dual distribution. 6. Strategic Channel alliance. 7. Forward integration. 8. Backward integration. 9. Franchising. 10. The 3 degrees of distribution density. 11. Disintermediation. 12. Logistics management. 13. Supply chain management. 14. A responsive supply chain. 15. An efficient supply chain. 16. Total logistics cost. 17. Integrated Marketing Communications (IMC) 18. Communication Process - FIGURE 17-1 19. Promotional Mix - the Five Elements of the Promotional Mix - Review Figure 17-2 and read about them to understand payments, strengths, weakness, plus read how each is executed...

Words: 562 - Pages: 3

Premium Essay

Corporate Law

...corporate governance (CG), start by explaining what the term means. According to the OECD definition (p372 your textbook), CG is the system by which companies are directed and controlled. It means the distribution of powers and duties within a company between its principal stakeholders. It is the mechanism by which a company’s strategy and objectives are set. CG also means the distribution of powers between the main stakeholders. These are shareholders, employees, customers, directors, creditors, the tax authorities. Remember, one of the goals of CG is to align the interests of the providers of capital- the investors and shareholders- with those of the managers of that capital- the directors of the company. This is the basis of ‘agency theory’. The risk is always that the managers will run the company for their own personal gain, at the expense of the owners (the shareholders). So, if we give directors share options (the right to buy shares at a certain lower price if they can get the price on the stock exchange to rise to a certain level), they will run the business for their own gain but also for the gain of the shareholders because they will benefit if the value of their shares...

Words: 2049 - Pages: 9

Premium Essay

Research

...Checkpoint Contents   Federal Library     Federal Source Materials       Federal Tax Decisions         American Federal Tax Reports           American Federal Tax Reports (Prior Years)             2002               AFTR 2d Vol. 89                 89 AFTR 2d 2002-966 (240 B.R. 216) - 89 AFTR 2d 2002-783                   SKLAR v. COMM., 89 AFTR 2d 2002-808 (282 F.3d 610), Code Sec(s) 170; 6103; 6104; 6651, (CA9), 02/27/2002 Notes Top of Form [pic][pic][pic][pic][pic]Saturday Feb. 09, 2013 2:32 PM CST Folder: My Folder sklar Bottom of Form American Federal Tax Reports SKLAR v. COMM., Cite as 89 AFTR 2d 2002-808 (282 F.3d 610), 02/27/2002 , Code Sec(s) 170; 6651 Michael SKLAR; Marla SKLAR, PETITIONERS-APPELLANTS v. COMMISSIONER of Internal Revenue, RESPONDENT-APPELLEE. Case Information: |Code Sec(s): |170; 6651[pg. 2002-808] | |Court Name: |U.S. Court of Appeals, Ninth Circuit, | |Docket No.: |Docket No. 00-70753, | |Date Decided: |02/27/2002. | |Prior History: |Tax Court, (2000) [pic]TC Memo 2000-118,[pic] RIA TC Memo ¶2000-118, [pic]79 CCH TCM 1815 (opinion by | | ...

Words: 7226 - Pages: 29

Free Essay

87th Usar

... 87th USAR Training Support Division Dawn Campbell 1801 Chace Lake Parkway Birmingham, AL 35244 205-873-9440 biaunka1121@yahoo.com GM 591 October 16, 2010 Mr. Michael Carr  The 87th Training Support Division has been around for a very long time. The lineage is traced back (Global Security, 2000) to the 87th Infantry Division which activated and organized at Camp Pike, Arkansas, on 15 August 1917. The Division served as part of the American Expeditionary Force in France during the First World War. The Division entered the combat zone late in the war and primarily conducted Combat Support missions including: construction projects;performing guard duty; military police operations; convoy escort; and many miscellaneous logistics and supply details. The Division was moving to the front lines in November of 1918, the war ended and the Division returned home for deactivation in July 1919. In 1921, the Division reconstituted as part of the Organized Reserves. This unit has participated in three War's starting with World War II. The name of the unit has gone from the 87th Infantry Division to the 87th MAC in 1957 and now the 87th USAR Training Support Division. This lets you know the clout this unit sits on. There have been numerous commanders and many Soldiers to come through those gates, so has there been plenty of people leave. This unit has a mobilized task to handle 9 Brigades and 4 Divisions. The task as written is to process mobilization packets without...

Words: 3913 - Pages: 16

Premium Essay

Department of Veterans Affairs Organizational Structure

...keep our country and the American people safe. While the organizational structure is centered on the company’s goals, it also dictates how reporting priorities and key strategies of upper management. There are three main types of organizational structure: functional, divisional and matrix structure. VA’s mission is to fulfill President Lincoln’s promise “to care for him who shall have borne the battle, and for his widow, and his orphan.” VA fulfills this by providing benefits, healthcare, and memorial affairs to our Veterans and their families. Today, VA’s 300,000 employees work hard to accomplish the mission and keep the country’s commitment to America’s Veterans and their families. The VA is the 2nd largest Government Agency second to the Department of Defense. The...

Words: 1551 - Pages: 7

Premium Essay

Just for Fun

...Code of Ethics of the National Association of Social Workers Approved by the 1996 NASW Delegate Assembly and revised by the 2008 NASW Delegate Assembly The 2008 NASW Delegate Assembly approved the following revisions to the NASW Code of Ethics: 1.05 Cultural Competence and Social Diversity (c) Social workers should obtain education about and seek to understand the nature of social diversity and oppression with respect to race, ethnicity, national origin, color, sex, sexual orientation, gender identity or expression, age, marital status, political belief, religion, immigration status, and mental or physical disability. 2.01 Respect (a) Social workers should treat colleagues with respect and should represent accurately and fairly the qualifications, views, and obligations of colleagues.  (b) Social workers should avoid unwarranted negative criticism of colleagues in communications with clients or with other professionals. Unwarranted negative criticism may include demeaning comments that refer to colleagues’ level of competence or to individuals’ attributes such as race, ethnicity, national origin, color, sex, sexual orientation, gender identity or expression, age, marital status, political belief, religion, immigration status, and mental or physical disability. 4.02 Discrimination Social workers should not practice, condone, facilitate, or collaborate with any form of discrimination on the basis of race, ethnicity, national origin, color, sex, sexual orientation, gender...

Words: 8519 - Pages: 35

Premium Essay

Why Is the Initial Consultation so Important?

...cover at this time? When a person has a specific problem, whether it is a fear or phobia or something they wish to change about themselves, one of their options is to use a hypnotherapist to help them overcome their problem. During the first consultation, the therapist will address the client’s specific needs by conducting an assessment. The assessment is the fundamental base line from which the therapist will use the information needed to design a program specifically tailored for a particular client. During this essay I hope to deliver the importance of the initial consultation between therapist and client including the ethical factors. I would like to discuss the process, what happens at the initial consultation, and how the therapist will gather the required information. I also aim to explore the benefits and use a debate for the more complex ethical issues that therapists face. As well as discovering the reason why the prospective client has thought about hypnotherapy, the therapist is also judging their skills for the appropriate job at hand, and that the client’s goals are obtainable.   The initial consultation can be a very powerful tool for both the client and the therapist. First impressions will be formed during the initial conversation which can be in person or over the phone. The client can talk about themselves, but can also learn about the hypnotherapist, thereby, leading both parties to decide whether counselling and hypnotherapy is the right course of action...

Words: 1998 - Pages: 8

Premium Essay

Sdad

...CUSTOMER RELATIONSHIP MANAGEMENT (CRM) EVALUATION: DIFFUSING CRM BENEFITS INTO BUSINESS PROCESSES Sigala, Marianna, University of the Aegean, Michalon 8, 82100 Chios, Greece, m.sigala@aegean.gr Abstract Although CRM is one of the fastest growing management approaches being adopted across many organizations and particularly tourism and hospitality firms, the deployment of CRM applications has not always delivered the expected results while many CRM initiatives have failed. Consequently, the inability of CRM applications to deliver expected benefits has not only intensified the validity of previous findings and claims regarding the ICT productivity paradox, but it has also boosted current research. However, although the latter provides anecdotal evidence of the impact of ICT management practices on CRM effectiveness, there is a lack of empirical studies examining the relationship between CRM management and performance aspects. This study aims to fill in this gap by investigating the relation between firms’ CRM applications and exploitation with their ICT management practices and CRM benefits. The investigation and validation of the former are valuable, since it would enable managers to maximize CRM benefits by identifying and allocating the appropriate resources, time and efforts to CRM implementation. Relations are tested by gathering data from Greek tourism and hospitality companies. Findings provide useful practical suggestions for CRM evaluation and implementation strategies...

Words: 4709 - Pages: 19

Premium Essay

Com100

...|COURSE : COMM 100: Introduction to Communication |INSTRUCTOR: Mark Kazemzadeh | | |EMAIL: mark.kazemzadeh@umb.edu | |SCHEDULE: |OFFICE: W/6/86 | |Room #: |Mailbox: W/06/37 | |SEMESTER: Fall 2015 |OFFICE HRS: TTh 1-2p, MW 12-1p | | |and by appointment | Course Description: This course is designed to provide an introductory survey of the study of communication. The course begins with a general history of human communication and goes on to examine such areas as definitions, models, and basic concepts in communication; the range of verbal and non-verbal codes, and their complex inter-relations in modern message systems; and various communication contexts, with emphasis on the structure and function of intercultural communication, interpersonal communication, and organizational communication. Required Text: O’Hair, D., & Wiemann, M. (2012). Real Communication: An Introduction (2nd or 3rd Ed.). Boston: Bedford/St. Martin’s...

Words: 1648 - Pages: 7