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.
Hi,
i am first time home buyer and i have this question,,,Is it safe or is it ok for a buyer to use the same agent the seller is using, i found a house and the agent who showed it to me asked me if i have an agent and i told him no i dont and i asked him if he could be my agent and he said yes thats fine. i am a bit worried if he will be on my side or not.
can anyone help please, do i have to get my own agent or i can go ahead and continue the process with the same agent that represent the seller.
It is ok, but I would recommend you have your own agent. Look up dual agency. A seller's agent is legally bound to represent the seller's best interest so essentially he/she would not be able to negotiate on your behalf, or help you in any way other than just writing up the offer and they must disclose this. I am an agent. I agree that you may want to post on the real estate forum..this is just the short answer..get your own representation. IMO
I wholeheartedly agree with the idea of using a different agent. And check your state licensing guidelines. Here in NY, realtors must have homeowners sign a buyers' or sellers' agent agreement or a dual agency agreement. It is a form issued by the state.
Of course, while the first two agreements call for the agent's total fidelity to their clients, that won't necessarily stop your agent from engaging in unethical behavior. It certainly didn't stop our sellers' agent.
In general, it is almost always better to find someone who will represent you appropriately and who will not benefit from events or actions that are adverse to your interests. That also means not hiring a real estate attorney recommended by any of the brokers involved in the transaction.
Hire an agent..how could having the same agent increase your chances of getting a house? that is so unethical and wrong. Anyway, negotiating things like inspection related repairs, closing dates ets..they can get tricky esp if you don't have your own agent representing your best interest.
Hiring an agency engaged by the identical broker is called a dual bureau. I do not suggest it because the agencies fiduciary duty is to the trader, not you.
Hi,
i am first time home buyer and i have this question,,,Is it safe or is it ok for a buyer to use the same agent the seller is using, i found a house and the agent who showed it to me asked me if i have an agent and i told him no i dont and i asked him if he could be my agent and he said yes thats fine. i am a bit worried if he will be on my side or not.
can anyone help please, do i have to get my own agent or i can go ahead and continue the process with the same agent that represent the seller.
There is a request at the top of this forum for posters to provide at least the state in which they reside.
That helps avoid some presentation of misinformation, as is provided in a few posts here. Regulations and laws vary from state to state.
IF you are in North Carolina, the agent would be in Dual Agency, and cannot favor either side, and therefore, cannot coach you to help you arrive at the best price and terms for you.
Nearly every state offers a mandated agency disclosure similar to this, and you should read your state's version closely:
I would never do it. I want someone who is only looking out for my best interests, not that of the seller.
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.
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.
