Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-16-2008, 11:18 AM
 
Location: Look out your window.......
321 posts, read 918,210 times
Reputation: 290

Advertisements

I'm in the process of reviewing properties for a home purchase. It's been several years since I bought a home and have a question. Can the listing agent for a home I'm looking to buy also be my agent? Just seems like a conflict of interest to me. Better for me to get my own agent?

Gracias!
Reply With Quote Quick reply to this message

 
Old 01-16-2008, 11:24 AM
 
Location: Just south of Denver since 1989
11,815 posts, read 34,300,444 times
Reputation: 8935
The listing agent typically represents the seller. Can you buy a house with the listing broker? Sure.

The details depend on where you are thinking of buying, because real estate agency laws come from the state. And different states have different laws.

Interview and hire the best buyer's agent you can find.
Reply With Quote Quick reply to this message
 
Old 01-16-2008, 12:33 PM
 
Location: Charlotte
12,642 posts, read 15,550,501 times
Reputation: 1680
Quote:
Originally Posted by wktully View Post
I'm in the process of reviewing properties for a home purchase. It's been several years since I bought a home and have a question. Can the listing agent for a home I'm looking to buy also be my agent? Just seems like a conflict of interest to me. Better for me to get my own agent?

Gracias!
What State are you in?

In NC, Yes the listing broker can represent you, the buyer, in what is known as dual agency.
Reply With Quote Quick reply to this message
 
Old 01-16-2008, 12:40 PM
 
Location: Look out your window.......
321 posts, read 918,210 times
Reputation: 290
Thanks for the answers! I am buying in Missouri. I like the Seller's agent but don't want to have a conflict of interest or put him in an uncomfortable situation.
Reply With Quote Quick reply to this message
 
Old 01-16-2008, 01:01 PM
 
Location: St. Augustine FL
1,641 posts, read 5,012,092 times
Reputation: 2391
In Florida, dual agency is prohibited. We have "transaction brokerage", which we work for the fairness of both parties, - to put the transaction together. You should check with the agent.
Reply With Quote Quick reply to this message
 
Old 01-16-2008, 01:10 PM
 
Location: Charlotte
12,642 posts, read 15,550,501 times
Reputation: 1680
Quote:
Originally Posted by wktully View Post
Thanks for the answers! I am buying in Missouri. I like the Seller's agent but don't want to have a conflict of interest or put him in an uncomfortable situation.
The agent should be more than happy to let you know his companies policy regarding Dual Agency (basically the scenario you would have should s/he decide to represent both parties)

There are certain restrictions with dual agency and you will want to fully understand these according to your states laws - the agent will know.

You can also ask the agent to refer you to another agent they feel comfortable recommending and who will do a good job for you, I'm sure they have someone in mind who can help. Just remember to interview the 'new' agent to ensure you will be able to work well together prior to hiring, should you decide to go this route.
Reply With Quote Quick reply to this message
 
Old 01-16-2008, 02:04 PM
 
Location: Nashville, TN
1,177 posts, read 4,143,633 times
Reputation: 945
Quote:
Originally Posted by wktully View Post
Thanks for the answers! I am buying in Missouri. I like the Seller's agent but don't want to have a conflict of interest or put him in an uncomfortable situation.
WKTULLY, a couple of follow up comments. Even if dual agency is allowed in the state, tecknically the agent doing dual agency wouldn't be representing either party but would serve as a facilitator. Also, if you do decide to get a Buyer Agent, if you go through the listing agent to do this, then the listing agent may be getting a referral fee from the Buyer Agent, which would decrease the Buyer Agent's commission who would be working for you.
Reply With Quote Quick reply to this message
 
Old 01-16-2008, 02:10 PM
 
Location: Atlanta/Decatur/Emory area
1,320 posts, read 4,261,642 times
Reputation: 501
It's in your best interest to have your own agent. The listing agent can fill out paperwork for you (and will be happy to do so if it's legal in your state since he/she will pick up the entire commission in the process) but the listing agent cannot offer you advice or work on your behalf.

My advice would be for you to find a good buyer's agent. Someone with experience both as an agent and in the area you're planning to buy. You don't pay any more for having your own agent (the commission structure is already spelled out in the contract that the listing agent has with the seller) and you'll get professional advice from someone who is obligated to work in your best interests.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top