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Romancing the ‘hogger’

Realtor Notebook

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

When I went to real estate school I learned about the "hogger." That is the sweet deal that our instructors told us would happen if we represented both the buyer and the seller. Stories were told about unrepresented buyers calling listing agents and those agents selling the listing to the buyer. It is also called dual agency. Agency is an issue I think about often and every six months or so I write a consumer-oriented post about it on my blog. I keep the Minnesota agency disclosure in each of my listings so that I have it on hand at all times if I need to show the listing to a buyer. The idea of agency is a consumer education challenge. Consumers do not understand real estate agents, real estate companies or agency. The whole Realtor and commission process is a mystery to most buyers. They just want to see the house, and they don't care about who gets paid what or how. Buyers who are interested in purchasing foreclosures seem to be the least educated of all. So...