Fuzzy Distinction, But Clear Conflict of Interests

In May, 2004, I began interviewing real estate agents to assist me in purchasing my first home. I interviewed Julie Tuggle, an exclusive buyer's agent, and two other real estate agents (who represented both buyers and sellers). During each interview I asked the agent what they would do if I liked one of the homes that they were listing. I was shocked when the two dual agents replied that they would be able to represent both sides. I am an attorney (licensed in Florida) and I could not fathom how this was not a blatant conflict of interest. When I stated that I was uncomfortable with such an arrangement they suggested that they could turn over either the buyer or seller to someone else in their real estate firm (and how do they determine which client to drop?) -- as if this would resolve the conflict of interest! To me, that would be like one partner in a law firm representing a husband and another partner in the same firm representing the wife. In law, conflicts of interest are strictly regulated, but in real estate it seems that the conflict is often pushed under the rug. Also, one of the interviewees kept saying that she was often a "buyer's agent" - and suggested this was the same as an exclusive buyers agent. I think that the general public does not understand the concept of an "exclusive buyer's agent", and until a definition is created, real estate agents will have the ability to keep this distinction fuzzy.

Thank you,
Danielle Eckelt