thanks
2006-08-07 07:33:55 · 10 answers · asked by AntiDisEstablishmentTarianism 3 in Business & Finance ➔ Renting & Real Estate
As long as the buyer is not under contract for representation by another agent, then yes. Keep in mind though that it does make things tricky for the agent, since they are originally under contract with the seller. Consider this a conflict of interest, if not played correctly... Because on one hand, it's their duty to get the highest buck from the buyer (for the seller), but if you are the buyer it's in that agents best interest to get you the best deal as well. As an agent myself, the best thing to do is simply take direction from the two sides, and NOT offer opinion or advice on price or terms. As an agent, I can remain completely unbiased in that scenario, and will simply put any offer you find fair on paper to present to my seller.
2006-08-07 07:41:55 · answer #1 · answered by loving father 5 · 0⤊ 0⤋
No! That would be a conflict of interest! Many state realty boards specifically prohibit this so the agent isn't going to do it anyway.
Keep in mind that the agent represents the seller and the seller alone. If you should tip you hand to them, for example tell the agent how high you would go on a property, the agent is legally bound to pass that information on to the seller. Conversely, if the seller tells their agent the lowest offer that they will accept, the agent is legally barred from passing along that information to the buyer.
In order to protect your interests, you need to have a "buyer's agent" agreement with your agent. This agent CANNOT be the seller's agent and ideally should not work for the same broker.
2006-08-07 15:27:02 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You did not mention what state you are contracting to purchase a home. However, the uniform rules are that in a traditional setting, the agent represents the seller unless you have a written Buyer Broker Agreement or in some states agency is completed that will designate who the agent is representing. The Buyer's Agent started in earnest about 10 years ago, and in most states there are agents that only represent buyers. I would interview 3 of those agents or it sounds like you have an agent that you like. Then and depending on state laws you can ask that agent if they will represent you exclusively as a buyers agent. If you have a good real estate attorney, they can quickly advise you of the laws of real estate agency in your state and you should have access to a good attorney in your search.
Good Luck
2006-08-07 14:59:30 · answer #3 · answered by teenriodoll 3 · 0⤊ 0⤋
Of course you can. The agent or the agent's client may or may not want to in which case they will generally assign another agent in the same office to assist you. Dual agency requires additional disclosures to which all of the parties have to agree.
The conflict in dual agency is always where does the agent's loyalties rest. There are always going to be some trade offs if you are the buyer. You will always wonder if you got the best deal, etc.
If you don't know another Realtor just ask for someone in the same office. That will usually work out better than using the seller's agent although it doesn't preclude any collusion.
2006-08-07 15:08:36 · answer #4 · answered by Sam B 4 · 0⤊ 0⤋
Yes. They will have to get permission from the seller (whom they are representing). The agent loves when this happens because they get a bigger commision. They do not have to pay a buyers agent for producing a buyer.
2006-08-07 17:07:37 · answer #5 · answered by emetalshop 3 · 0⤊ 0⤋
No a buyer cannot have the seller's agent represent them because it is a conflict of interest.
2006-08-07 14:39:46 · answer #6 · answered by ? 5 · 0⤊ 0⤋
Yes, but then he would be a dual agent. A dual agent would then be nuetral. You are better off getting your own buyer's agent, as he would have to look out for your interests only.
2006-08-07 14:42:25 · answer #7 · answered by happytraveler 4 · 0⤊ 0⤋
Hmm... I wonder if you could just be your own agent? Perhaps split the commision with them?
Or how bout finding a for sale by owner and not using an agent at all??? The lawyers office/title company does all the paperwork for closing - they don't care if you have an agent or not!
Cheers!
2006-08-07 16:29:44 · answer #8 · answered by shredderb 3 · 0⤊ 0⤋
Not a good idea. You cannot serve 2 masters. Whose interests does the agent have to protect?
2006-08-07 14:47:03 · answer #9 · answered by Frank M 3 · 0⤊ 0⤋
This depends on the real estate companies and their policies. If they dont have such polices and both parties agree to this than it is just fine.
2006-08-07 14:46:02 · answer #10 · answered by littlebettycrocker 4 · 0⤊ 0⤋