Profile picture for themacb

My buyer's agent is actually the seller

I was told that the 2 agents were from the same company - one represented me, the other represented the seller.  Now I see in the escrow instructions that the one representing me is the seller.  Not representing the seller, he actually IS the seller - a managing member of the LLC.  Should I be concerned?  What should I do?
  • August 09 - US
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Answers (8)

Profile picture for aw hbeach

All I can say BEWARE!

I was represented by the dual agent (representing me and seller) and I ended up with the house that has water leak and mold, When I sent email listing deficiencies to real estate agent to get resolution (sellers made more that $550,000 net profit on the house), I've got response from {Content deleted by Zillow moderator. Please see Good Neighbor Policy for posting guidelines.} attorney who informed me to stop sending emails to real estate agent (I do not know address of the sellers) since it is  considered harassment. Since my conditions for purchase of the house were not included by the real estate agent in the escrow instructions, despite of my requests, my only option is to hire attorney. I would be better of if I hired attorney before I purchased the house. The cost of repairs is more than $20,000 and I do not know what else is wrong with the house. Since I had to hire plumber to diagnose problem, now I know that I have even more issues that either were not disclosed in the house inspection report, or they were disclosed but not corrected, such as not replaced pressure valve, leaking primary valves in the bathrooms etc. In a summary - the horror story....

  • August 09
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If you feel you made a good deal, you should first close on the house, then I would like you to report the agent for failure to disclose their interest in the property and misrepresenting their agency relationship to you, both of which are almost certainly in violation of state law.

If you feel you could have made a significantly better deal, then I recommend you see an attorney first thing Monday morning.

  • August 09
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This is a conflict and you should have been notified from the start. You need Your Own agent to represent you.

  • August 09
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themacb, In Delaware, the Laws of Agency (relationship between brokers and clients) and agent/owner principals are required disclosures. If this were a DE sale, the seller would be in a DUAL Agency role (meaning they represent both sides of the deal,) and the Brokerage firm would be in a DUAL agency relationship. This would have been a required disclosure to you, in writing. Also, the fact the seller was the owner would also have been a required written disclosure to you in order to give you the opportunity to either use a transactional broker (a party totally unrelated to the deal) or someone from another company all together to represent you. Keep in mind, each state varies with disclosure requirements, so it's best to touch basis with a RE attorney or your state's RE Commission. Good luck to you. Tom Schoenbeck, Associate Broker, Keller Williams Realty, Rehoboth Beach DE       
  • August 09
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Around here (California) a lot of agents will enlist an agent in their office to list their home - this part isn't unusual. It is, however, unusual that the agent representing you is also the seller.

I am surprised that this wasn't disclosed up front IN THE PURCHASE AGREEMENT or at least verbally.

In my opinion it is a conflict of interest and I would get a different agent to represent you. I would also mention TO THE BROKER that the agent failed to disclose (up front) their relationship to the property.
  • August 09
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That's a new kind of weird. Have you been damaged?
  • August 09
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Laws do vary by state.  I can not speak for them all but GA requires the agent to disclose if they are also the seller.  
  • August 09
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Profile picture for wetdawgs
That would be very uncomfortable.   If the home you wish to place an offer on is owned by your agent, I'd ask for a replacement from their office.
  • August 09
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