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Hi everyone. My family is considering either buying a home with a larger yard,or building (again) on some acrage. We built a home on a quarter acre three years ago. We are not unhappy and will stay put until the time to move is right. We have a nice younger fellow,who is fairly green e mailing us lot info and helpful advice on rural building. If we build, we will buy land through him to thank him for his time.
However, we would prefer to find an existing home . If we find one we like, we will gamble with a contingecy because issues within our family would make being displaced unfeasble.Also, many people love our home and it is in a very good area, so we are confident in selling.
My issue is, should I go with the listing agent of a home we wish to buy so they will be highly motivated to get us our dream home and sell ours quickly, or should I have a different agent? The fellow showing us land deals with auctions and no one in our neighborhood lists with his company. Also, if our deal falls through, I don't want people to think we were selling short sale/foreclosure, which his agency does alot of.Putting up an auction house sign could cause rumors.
I don't want to be tacky or ignorant of real estate code of ethics, but in this market we will have to be smart if we want a shot at a quick move. Any help? Thanks.
The heart of my question: is it wrong to have different agents to do different parts of transactions, as long as you don't bring in someone new for a listing they have shown you.Different people for different jobs, or do I find one who can show me homes and sell our house?
It is not unethical to have 2 different agents, however, most people tend to use the same agent, because it is simpler to work with one agent as opposed to 2 different ones. You will be explaining yourself twice, etc. Why go through that?
I think you would be happier with the same agent as your listing and buying agent. Motivation should not be a question either way. I suggest that you do not hire the listing agent of the home you want to buy to list your home as well. It is too easy to get interests conflicted. Hire your own agent and they can help you find the home and negotiate it as well to get the best value on both the sale and purchase.
Thanks to all who responded.I will start looking for an agent who can show me homes, whom I would also feel comfortable listing my home with.Just curious, what would the conflict of interest be if the listing agent for the new home also sold ours? Would they be less likely to reveal faults in the home we want, so they could get both deals? We have an awesome home inspector, which I consider very important.I really liked one of the listing agents I spoke to about one of his homes, and he lists mostly in our prospective area.I think that is valuable for knowing which homes are coming on the market, etc.
I am still sicking with my auction based agent for lots only, because he has lots of info about rural building.Thank again.
Thanks to all who responded.I will start looking for an agent who can show me homes, whom I would also feel comfortable listing my home with.Just curious, what would the conflict of interest be if the listing agent for the new home also sold ours? Would they be less likely to reveal faults in the home we want, so they could get both deals? We have an awesome home inspector, which I consider very important.I really liked one of the listing agents I spoke to about one of his homes, and he lists mostly in our prospective area.I think that is valuable for knowing which homes are coming on the market, etc.
I am still sticking with my auction based agent for lots only, because he has lots of info about rural building.Thank again.
Thanks to all who responded.I will start looking for an agent who can show me homes, whom I would also feel comfortable listing my home with.Just curious, what would the conflict of interest be if the listing agent for the new home also sold ours? Would they be less likely to reveal faults in the home we want, so they could get both deals? We have an awesome home inspector, which I consider very important.I really liked one of the listing agents I spoke to about one of his homes, and he lists mostly in our prospective area.I think that is valuable for knowing which homes are coming on the market, etc.
I am still sticking with my auction based agent for lots only, because he has lots of info about rural building.Thank again.
An agent with integrity would not have any conflict of interest if representing you twice.
Thanks to all who responded.I will start looking for an agent who can show me homes, whom I would also feel comfortable listing my home with.Just curious, what would the conflict of interest be if the listing agent for the new home also sold ours? Would they be less likely to reveal faults in the home we want, so they could get both deals? We have an awesome home inspector, which I consider very important.I really liked one of the listing agents I spoke to about one of his homes, and he lists mostly in our prospective area.I think that is valuable for knowing which homes are coming on the market, etc.
I am still sticking with my auction based agent for lots only, because he has lots of info about rural building.Thank again.
If you make the wrong selection, you'll multiply your problems by 2. Also, if the agent either:A. Sells you one of their listings or B. Sells your home without any other broker participation, how motivated will they be(with commision already in their pocket) to sew up the remaining end of the transaction? If you're determined to go with one agent, i'd suggest contract language that addresses the above scenario(i.e.: non-conventional commision rate).
If you make the wrong selection, you'll multiply your problems by 2. Also, if the agent either:A. Sells you one of their listings or B. Sells your home without any other broker participation, how motivated will they be(with commision already in their pocket) to sew up the remaining end of the transaction? If you're determined to go with one agent, i'd suggest contract language that addresses the above scenario(i.e.: non-conventional commision rate).
You can have an agent help you buy your new home, and sell your old one and still not have them be a dual agent. In Oregon you have to agree to allow them to be a dual agent. Just don't agree.
If you really like one of the listing agents and he was doing a good job definitely interview him. As Mike pointed out, if the agent has integrity it won't make a difference.
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