Zillow Advice: Buying Process - Real Estate Agent - use selling agent or get new agent http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ Zillow Advice | Zillow Real Estate This thread needs more NAR ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ This thread needs more NAR talking points!! &nbsp; Wed, 16 Sep 2009 23:30:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-16T23:30:00Z Your own agent will be free ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ Your own agent will be free from the conflict of interest of having to represent two opposing sides. Commission price is always negotiable. Wed, 16 Sep 2009 23:17:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-16T23:17:00Z It is important for Buyers ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ It is important for Buyers to understand that the Listing agent, if under an exclusive Right to Sell contract with the Seller, represents only the Seller's interests, positions, and goals.<br/>Only a Buyer's agent, that you contract with, will exclusively represent your goals as a Buyer. If you do not use a Buyers agent of your choosing, you are using a Sellers representative to work with during the process. Any information the Seller's agent gets from you, they are required to disclose to their client (Seller). <br/>If you want someone to represent your interests, do due diligence on the property and all facets of the sale, protect you, and guide you through interpreting info&nbsp; you should hire your own Buyer's agent. <br/>This agent is normally compensated by the transaction in which the Seller has allowed a portion of the sale to be paid to a Buyers agent. <br/>If there is no allowance from the Seller, the Buyer will pay a commission to the Buyers agent, just as they would compensate any professional working on their behalf.<br/> Wed, 16 Sep 2009 13:12:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-16T13:12:00Z jk,Good for you.&nbsp; However, ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ jk,<br/><br/>Good for you.&nbsp; However, I've had way too many dealings with agents who forget that they swore to uphold the Realtor's (r) code of <u>ethics</u>.&nbsp; I've even experienced blatant cheating on the license renewal exam.&nbsp; The way I see it, if we could get rid of those agents who either are unethical, lacking in intelligence or a combination of the two, the 20% of us who would be left over could rebuild a positive reputation for the <a href="http://www.zillow.com">real estate</a> profession.&nbsp; There are those out there who would take advantage of the fact that they know the limits to which each party would go to close the deal and use that to make the buyers pay a higher price than they would have with individual representation - ESPECIALLY if they are reducing their commission because they're representing both sides of the transaction. Tue, 15 Sep 2009 20:03:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-15T20:03:00Z I have acted as a dual agent ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ I have acted as a dual agent many times. It is not a problem for me to act as a middleman. If the buyer wants to offer $100K, I present it. If the seller wants to counter at $125K, I present it. Back and forth we go until they either come to terms or don't. I really don't get why so many agents can't understand that as long as they don't share confidential information to wither party, it is very simple. The same is true with inspection issues. One party asks the other and receives a response. A dual agent must treat both party's equally. That's simple enough in most cases. And a dual agent anticipating 6% commission is in a far better position to kick in a few dollars to get the deal done, knowing they have up to 3% that would have normally gone to another agent. There is a huge difference between being unrepresented and working with a dual agent or transaction broker. The only issue that could be cause for concern is whether the agent can actually be neutral and hold confidences. Of course if you have you own agent, there is no <strong>guarantee</strong> they won't discuss things they shouldn't with the other agent either. Tue, 15 Sep 2009 13:02:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-15T13:02:00Z With today's market I think ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ With today's market I think it is very tough to have dual representation.&nbsp; No matter how you look at it, everyone is concerned about the PRICE.&nbsp; Simple as that.&nbsp; Therefore, unless you love the home and personally feel it is a great price and are going to pay asking price, don't use the same agent.&nbsp; This is the most critical point (agreeing to a purchase price) and this can not ethically be done by one agent if there is serious negotiation going on.&nbsp; Dual agency works in my eyes when the buyer is 100% OK with the asking price or if the property has been sitting for months and the seller is trying to simply get any offer.<br/><br/>Hope this helps. Tue, 15 Sep 2009 11:26:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-15T11:26:00Z Not quite, NTETS.&nbsp; The ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ Not quite, NTETS.&nbsp; The negotiations are with the seller, not the seller's agent.&nbsp; But even with your model, how many home buyers really have enough expertise to represent themselves?&nbsp; And first time home buyers? That's a recipe for disaster. Mon, 14 Sep 2009 20:14:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-14T20:14:00Z randy's analogy is flawed, ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ randy's analogy is flawed, it would be far more like representing yourself as opposed to "using the opposition's attorney"<br/> Mon, 14 Sep 2009 05:43:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-14T05:43:00Z Would you go into litigation ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ Would you go into litigation using the opposition's attorney?&nbsp; If so, then by all means, work with the seller's agent.&nbsp; But if you're wise, then you'll have your own representation with an experienced, reputable Buyer's Agent. Mon, 14 Sep 2009 04:28:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-14T04:28:00Z Before you get your own agent, ... http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ Before you get your own agent, get a full understanding of what a "dual agent" really means. Do not be&nbsp;roped into getting a "buyer's agent" because they are free to you. There is plenty of money to be saved using one agent if you know what you are doing. That is the important part. You must know what you are doing and as a first timer, you probably don't. So yes, get your own agent, but not because they will save you all sorts of money. Sun, 13 Sep 2009 21:08:00 GMT http://www.zillow.com/advice-thread/Real-Estate-Agent-use-selling-agent-or-get-new-agent/278303/ 2009-09-13T21:08:00Z