Yes, we have had conference calls where the principals and I were all present. Those were sophisticated parties, usually commercial/development deals.  I am present, throughout - taking copious notes.

I've also had less-than-adult parties meet at a table and hopelessly screw things up. It really depends on the people and whether they can be trusted to behave with professionalism and class.

If I'm the go-between, I simply relay the info between them. I can't tell one what the other will pay, or what the other will take. The rest of the info is out there on the table, for the most part. They can decide if the deal works for them.

Agents far too often do not give their clients enough credit, many clients know as much as or more than their agents about negotiation, and sometimes even more about real estate.

  Most Florida brokers operate as Transaction Brokers, which provides limited representation.  

    About the only time that "the two principals meet" is when there is No Representation, such as Flat Fee MLS.

   Dual Agency is illegal in Florida.

I think meeting in person in a situation like this would be the best way to proceed so everyone knows you aren't dealing behind their back.  As Bob Crane said, we don't give our clients enough credit.  These face to face meetings usually only go off the rails if an agent takes it there.

Kathryn,

We have been in similar situations as Candice A. Donofrio .

Fred Griffin is correct with our situation in Fl - our clients seldom if ever meet face to face for anything

Kathryn Murdock Candice A. Donofrio has a great response. I've never heard of a limited agent. Are you referring to limited agency?

I don't believe in limited agency and don't do it. I don't even know how you can be a limited agent when representing a buyer. You can when representing a seller.

no....tooo many details that neither party woud recognize as legal or necessary.

Candice A. Donofrio offers you excellent advice.

Dual agency isn't allowed in Colorado although I can work as a transaction broker facilitating the transaction. I have done this, and I have gotten both parties together to work out some details. This has worked well in a few of the commercial transactions I've done. I don't necessarily do this for residential transactions. 

Never done the limited agency thing, always full service here.  Dual agency is a walk in the park.

I have not.  I do not do dual agency either. You have some great comments here. 

sign an agreement with the buyer regarding commission.

no experience here

No.  Why even have an agent if the principals are making their own decisions?

No.

Follow the regulations in your state.

I do not do dual agency

Kathryn Murdock - I have always been lucky as dual agent! Not sure what is so risky about it.

We rarely recommend the principals in a transaction word out details to a transaction themselves. This is why they work through an agent - even an agent who is working both sides. The agent is under a fiduciary duty to do their best by both sides and will work on behalf of both to get the deal together that benefits all parties.

I facilitate many transactions with the permission of each side.

I do not do dual agency and haven't in 20 years. It is so very tricky.

I do about 60% dual agency and I have also done limited.  All work when done properly

yes

Dual agency is not my favorite thing, but it can be done if all parties fully understand what it is and agree to it.  I generally wouldn't let them get together to work it out, as that can go badly, but it depends on the people involved.  I try to have someone else in the company handle the other side.  It's still dual agency (limited) but at least there is a little seperation. -Kasey

In this part of the world that is not something that is practiced.  The Buyer and Seller never speak with one another when negotiating an offer. The Buyer agent sits with the Listing agent and the Seller to negotiate... 

Limited is not far from the same increase in liability as dual agent. It is rare if i am ever a dual agent. We have transaction brokerage here in NH, where i can show them the home, write the contract and facilitate the closing without representing them. 

I serve as the moderator - all parties participate in all meetings, calls and are copied on all emails and texts.  I do not like these and typically will refer them out if one of them is a lead who I do not know (buyers usually).  

Good luck, Kathryn Murdock! 

You need a skills bank that lines up with a dual agency situation. Less than that & it is risky maybe not now but during the statute of limitations period

 Check Utah law. PA does not recognize limited agent.

Kathryn 'limited dual agency' is allowed in AZ.  Persoanally I'm not a fan of dual agency.  It's like having your hands tied behind your back. You can not advocate or negotiate in behalf of buyer or seller. I have done it on occassion but I knew both parties extremely well.  I would never let the two parties 'work it out' together. 

I have done dual agency just twice in my career. But I would certainly not, and did not, just let the principals work out their own details. Imagine the liability!

Not in my wheelhouse!

For real estate, we don't have the concept of "limited agent" in my jurisdiction.

Never have and I am sure this will come up in class.