My agent is SELLERS agent too! Akward & concerened.

I am selling my house and my agent just gave me a offer from one of his own clients.  I admit that I thought this was pretty strange.  I don't worry about him not protecting my interest, but somehow it doesn't seem fair to the potential buyer.  I thought I read about this situation and when the agent had a client wanting to place an offer, she got one of her co-workers to represent that person and make the offer.  The more $$$ the buyer pays the more $$ the agent gets. 

Have you signed an Agreement with the agent?  Has the agent explained to you State of Tennessee Law of Disclosure?

I have not signed an agreement with the agent, he has just been in contact with us, calling us and showing us the home ( 3 times).  About 3 weeks ago, we put in an offer and he presented it to the sellers, they declined the offer, the home was listed for 1.3 million and we offered 1.1 million, in the oppinion of an agent who is a good friend, she said the seller should have ran with it and taken a 100-200 thousand loss.

Now 3 weeks later, the sellers are saying they will take my orginal offer, and of course the realtor ( sellers realtor) is telling us to re-submit the same offer.  The home is clearly over-priced by 100-200 thousand, but the owners are firm.  There realtor seems to be the one who "talks" the sellers in to what price to run with.  I am afraid bringing in a realtor to help us, with damper the deal.  Although I have not signed an agreement, there is the principle - hey, he DID show us the home and has been in communications with us, so it would be a kick in the face for us to show us with our own realtor to look out for our best interest, he may even talk the sellers to decline again..... I suppose I need the State of Florida law of disclosure?  We are willing to pay a realtor on the side to guide us.... If anyone has any information or oppinions on my situation, please post!

I don't have experience with this but I would NOT share an agent. I'm sure this realtor is trustworthy, I have no reason to believe otherwise but I would be very concerned about this, particularly on a sale of this size. If this were any other kind of business deal, would you use the same broker / lawyer / negotiator? Why don't you get a real estate lawyer, or consider Zip Realty, Redfin (spelling) or HouseTech - these are all companies that offer varying levels of buyer's agent servcies, and a rebate too (maybe not an incentive for you). HouseTech is one we're planning to use, they charge a flat rate to do the buyer's paperwork but you do all your own searching. Or get your realtor friend to help. If you having someone to protect you "dampers the deal" with this realtor that would seem like a huge red flag. What you can do, in order to avoid the "kick in the face" effect, is have your friend agree to do it for cost, or use one of the flat fee companies and then just explain to him that you do not want to hit his commission, but that you feel it would be best to have your own represenation. If he doesn't see the logic in that, something is off - IMHO.

Melendez,

Showing houses is really the very least amount of work in regards to what an agent does for you. It is almost always a bad idea to forgo having your own representation.

In the very least hire a real estate attorney to look out for your interests

Sounds like you are being played.  If you still are interested in the house come back with another offer minus 100k from before and see what falls out.  The mortgage rates have increased enough the last 2 weeks to make that a justifable.

mel, you have to think of this as a business.  Would you buy one without consulting experts? 

Don't let emotions rule this purchase.  You will be soooooooooooo sorry.

Mel- You absolutely want your best interests in mind, a home is most American’s biggest investment and that is worth being advised from an experienced professional. REALTOR, GRI is right in that showing a home is the LEAST amount of work agents do. Don’t feel bad at all about wanting personal representation. That home is only worth what a buyer is willing to pay for it, so what is it worth to you? If you need a referral to an experienced professional in your area to advise you, email me and I will give you some of the best professionals in that area to contact.

-Michael

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