According to the polls, half of America disapproves of president Donald Trump.
His disapproval numbers would be cut in half if Americans fully understood agency.
You see, Donald Trump’s career was built as a real estate broker who has been trained to defend the client.
Naturally, a real estate agent who wins the presidency would instinctively protect his clients–The citizens of the United States.
The dictionary defines an agent as “a person who acts on behalf of another person or group.”
Qui Facit Per Alium Facit Per Se is latin and means “he who acts as another, acts himself.” It is the fundamental principle in agency law.
One person or entity, the principal, gives another person or entity the power to represent their interests. Said differently, the agent represents the wishes and interests of the person for whom he represents.
An example of principal-agency relationships is the employer-employee relationship. The employer, the principal, conveys power to the employee, the agent, to act on their behalf with customers or vendors.
Another example of agency is the attorney-client relationship. The client, the principal, gives the attorney, the agent, power to represent them in a court of law.
Real estate brokerage is very similar. The broker represents the best interests of the client, and the agent represents the interest of the broker.
Using the broker analogy, Trump, as the agent, represents the best interests of the American people, his clients.
America First is his slogan. Not China. Not Europe. Not Mexico. American Citizens only.
I’m a believer in this principle.
When I coach agents, I stress agency over everything else we do. It’s the most important concept in our business. Once our agents understand their role in a transaction, their decisions become easier. Every circumstance comes down to one question: “what’s in the best interest of the client?”
Unfortunately, not everyone practices this principle.
The state of Ohio, in it’s infinite wisdom, has complicated the situation with a concept known as “dual agency.”
Dual agency, an oxymoron.
Dual agency is exactly how it sounds, it’s representing both parties in a matter. As it pertains to real estate, representing the buyer and seller in a real estate transaction. Here’s what’s interesting, IT’S PERFECTLY LEGAL!
Why is that a problem?
According to Ohio law, it is illegal for an attorney to represent both the plaintiff and the defendant.
Shouldn’t real estate agents have the same mandate? A fiduciary and moral obligation to represent their clients to the fullest?
Unfortunately, most real estate brokers practice dual agency.
In fact, I often hear agents bragging to fellow agents how they “double end” most of their deals. In other words they represent both clients so they can get paid commissions for both sides of the transactions. Does this seem right?
What if everyone practiced dual agency in life?
Can you be a Cowboy fan and an Eagles fan? Can you work for McDonald’s and Burger King? Can you be devoted to your wife and your girlfriend?
In real estate, and in life, you can’t be on both sides of an issue. You must pick a side. You must choose for whom you will advocate.
Trump might not be your favorite politician, but make no mistake, he’s not a dual agent.