On the Beacon Hotel sale, Daniel Aubry acted as a dual agent, representing both sides to the transaction- the buyers and the sellers.
“ Dual agency “, Aubry claims, “ poses the greatest challenge that a broker can face. It requires earning and maintaining the trust of both parties to the deal through what is usually a very lengthy process. In the case of the Beacon hotel deal over six months elapsed between the time that a first offer was made and the closing. “Nowhere in agenting is the term “ honest broker “ more applicable. Both parties to the deal, with very different objectives, must come to believe that the broker has their best interest at heart, and can deal evenhandedly to achieve that most elusive of goals- “ a meeting of minds “.
“ There’s a huge satisfaction to that, “ says Daniel Aubry. “ I always bring champagne to a closing because to me it’s a celebration. It has to be “ win win “ for both parties. Otherwise, even if the deal gets consummated, I would somehow feel that I had failed. Fortunately that hasn’t happened to me yet and in the case of the Beacon Hotel deal I remain friends with both the buyers and the sellers.