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Answers (8)
- Donna LaConte, "donnalaconte"
- Contributions:328
"A transaction broker provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity. The licensee "works for the contract" without being an advocate for either party."
Again as long as your Realtor is ethical and is not a single agent for the seller, is a transaction broker, then you are good.
Again as long as your Realtor is ethical and is not a single agent for the seller, is a transaction broker, then you are good.
- Donna LaConte, "donnalaconte"
- Contributions:328
An "Ethical" Realtor will be able to help both in the same transaction. I don't have an issue with helping both seller and buyer of a home I have listed. Good luck.
- CulverCityRealtor
- Contributions:455
Yes you can use the listing agent, but remember that agent is working for the owner of theproperty and not for you.
A buyer agent will represent your best interests in the transaction, and you pay them nothing ( they are paid by the seller)
Best of Luck to you.
A buyer agent will represent your best interests in the transaction, and you pay them nothing ( they are paid by the seller)
Best of Luck to you.
- sunnyview
- Contributions:25127
No, I would not allow a dual agency agent represent me. I think that there is an inherent conflict of interest for the agent. If your tell the dual agent something that might benefit the seller, they may be legally bound to keep it private, but that information still may color their representation of your interests. The realtor's main interest is closing the deal within the lawful requirements. All information that you provide may be used for that purpose. Unless you are able to represent yourself, keep basic details private and are getting a financial benefit from a dual agent, I would not risk it. Find a buyer's agent or independent agent to represent you.Â
- Becky Morris, "BeckyMorris"
- Contributions:386
Finding a home you love is just the beginning. More than 50% of the work takes place from contract to closing. An experienced buyer's agent is a valuable resource each step of the way. In Georgia, a buyer's agent can provide information on past sales of comparable homes, include special stipulations in the contract to protect your interests (and your earnest money!) and guide through to a smooth closing. Good luck with your home search!
- Gary L White
- Contributions:573
Do I need my own Realtor?
Although I respect both answers, it has nothing to do with corruption or your ability to negotiate. .
The real issue and maybe the most important issue is....using a career professional to help you in the transaction keeps one thing very private your communication and information.
As the word implies a seller's agent works for the seller only. That means ANYTHING you tell the seller's agent is the same as telling the seller. So do no disclose anything to the seller's agent that you would not say directly to the seller.
For example, If you say: "I can pay more but this is all I am going to offer!" The seller's agent repeats your position to the seller and your offer is turned down. If you said the same thing to a buyers agent representing you, the sellers agent nor seller would ever know you spend more to buy the property.
The conversion by a sellers agent to a dual agent...means that a document must be signed by both the buyer and the seller informing them the agent is going to act as a dual agent. In Michigan this means the new position of the agent is a neutral party and is helping both the buyer and the seller with the transaction. This also means that information told to the dual agent is transparent.
Using a buyers agent can have big advantages and costs you nothing since the buyers agent splits the sellers agents compensation for payment or services.
I hope this give you a bit more insight into your choices
Although I respect both answers, it has nothing to do with corruption or your ability to negotiate. .
The real issue and maybe the most important issue is....using a career professional to help you in the transaction keeps one thing very private your communication and information.
As the word implies a seller's agent works for the seller only. That means ANYTHING you tell the seller's agent is the same as telling the seller. So do no disclose anything to the seller's agent that you would not say directly to the seller.
For example, If you say: "I can pay more but this is all I am going to offer!" The seller's agent repeats your position to the seller and your offer is turned down. If you said the same thing to a buyers agent representing you, the sellers agent nor seller would ever know you spend more to buy the property.
The conversion by a sellers agent to a dual agent...means that a document must be signed by both the buyer and the seller informing them the agent is going to act as a dual agent. In Michigan this means the new position of the agent is a neutral party and is helping both the buyer and the seller with the transaction. This also means that information told to the dual agent is transparent.
Using a buyers agent can have big advantages and costs you nothing since the buyers agent splits the sellers agents compensation for payment or services.
I hope this give you a bit more insight into your choices
- Jeff Konstant, "jkonstant"
- Contributions:1970
kfubar:
This depends totally on your ability to negotiate and handle things for yourself. Representation is a big word thrown around by realtors to impress their importance on people.
Ask yourself this. What can my own agent do for me that I cannot do for myself?
With all due respect for agents who speak out against dual agency or transaction brokering, I have yet to hear one argument that effectively explains the benefit without suggesting their is corruption or underhandedness taking place.
In other words it sounds to me like, "You need your own agent to protect you against deception from the listing agent"
Attorneys, surveyors, inspectors, etc are all hired by you to get to the bottom of things. Except for marketing (getting you interested), the seller really no longer needs the listing agent, but the listing agent needs you to accomplish his/her goal of selling the property and getting paid.
- Nathan Konopka, "NateKono"
- Contributions:34
Kfubar,
You are absolutely correct. While it is acceptable to use only one agent in the transaction, I always recommend that you use an expert Buyer's Agent with no affiliation to the Listing Agent. You'll have a smoother transaction, probably save more money, and at the end won't be wondering if you were represented properly.
You are absolutely correct. While it is acceptable to use only one agent in the transaction, I always recommend that you use an expert Buyer's Agent with no affiliation to the Listing Agent. You'll have a smoother transaction, probably save more money, and at the end won't be wondering if you were represented properly.
Do I need a my own realtor, or is it ok to use the seller's realtor to represent me also?
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