Zillow Advice: Buying Process - Is It Risky Not Using A Buyers Agent? http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ Zillow Advice | Zillow Real Estate Good morning,IT appears you ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ Good morning,<br/><br/>IT appears you conducted serious due diligence by having an inspector check the property and an attorney review the paperwork. &nbsp;IMHO I'd be confident in that due diligence if it were me purchasing the home.<br/><br/>What you do want to be careful of is if you owe the "Buyer's Agent" (quotes for a reason, see below) any commission once you close.<br/><br/>Here in NY when you "hire" a Buyer's Agent you sign a contract for something we call "Exclusive Buyer's Agency." &nbsp;This is a Buyer's Agent in the truest sense (thus the lack of quotes) because the Agent works for the Buyer's best interests as per the contract.<br/><br/>That having been said, I often see New Yorkers on the internet---especially in Manhattan---who think the real estate agent working with them is a "Buyer's Agent." &nbsp; Unless the contract for Exclusive Buyer's Agency was signed, the New York agent MUST work for the Seller's best interests.<br/><br/>Therefore, you want to check with the Attorney you consulted if you have any liability to your "Buyer's Agent" in terms of a commission due at closing. &nbsp;Did you sign any agreements? &nbsp;And what is the law with regard to Buyer's Agency in your State?<br/><br/>Trevor Curran<br/>NMLS #40140<br/><div style="text-align: left;">[Website removed by Zillow moderator. Please see our Good Neighbor Policy.]</div> Tue, 20 Aug 2013 14:15:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T14:15:00Z I had a buyer make an offer ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ I had a buyer make an offer on one of my listings. We had them pay everything - no splits on the usual things.<br/>Since I represent the seller I did my legal, fiduciary duty - to represent the sellers interests. Since they had no representation they were clueless.<br/>They got a bad deal and I got double commissions. My seller was soooo happy.<br/>This is how contract law works - I did the right thing, based on my legal responsibility to represent the sellers best interests. Wed, 28 Aug 2013 01:01:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-28T01:01:00Z It can be risky, but it seems ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ It can be risky, but it seems as if you have done your homework and it may be ok for you.&nbsp; This is not the case in the majority of situations.&nbsp; Sounds like you can make it work for you.&nbsp; Best of luck. Tue, 20 Aug 2013 15:16:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T15:16:00Z Portland, ORYou were not ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ Portland, OR<br/><br/><br/>You were not able (Seller does not agree) or interested in a Dual Agency arrangement?<br/>Oregon law provides 3 types of Agency Relationships<br/><br/>Sellers Agent..Buyers Agent &amp;<br/><br/><div style="text-align: left;">"Disclosed Limited Agent"</div><div style="text-align: left;">"-- Represents both the buyer and seller, or multiple buyers who</div><div style="text-align: left;">want to purchase the same property. This can be done only with<br/>the written permission of both clients."<br/><br/>Initial Agency Disclosure Pamphlet..<br/><a href="http://oregonrealtors.org/legal/disclosurepamphlet.html" rel="nofollow">Oregon Association of Realtors web site</a><br/></div><br/><br/><br/>If your "agent" was blowing smoke then in my opinion it's important to remember it was "that" agent blowing smoke and not all the agents in Oregon or the world <br/><br/>I think you posting "If anyone in the community has a recommendation for a reliable agent in Portland, OR, I'm all ears." does show you are well aware of that ;) I am curious about the Dual Agency..not an option in your situation?<br/><br/><br/><br/><br/><br/><br/> Tue, 20 Aug 2013 03:29:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T03:29:00Z We don't know if your agent ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ We don't know if your agent was blowing smoke, and you seem to have everything handled, so I don't really see how we can help you. Tue, 20 Aug 2013 02:28:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T02:28:00Z @Mack: Do I know you? What ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ @Mack: Do I know you? What are you talking about? Tue, 20 Aug 2013 02:26:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T02:26:00Z We're not going to be able ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ We're not going to be able to adjudicate this here. You have stated your case, and I think I speak for everyone here that we're happy that you're happy.<br/><br/>All the best, Tue, 20 Aug 2013 02:01:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T02:01:00Z In the contract it seems ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ In the contract it seems like everything is cut and dry. What could possibly happen without a personal agent there?&nbsp;<br/>&nbsp;<br/>It would be nice to have an agent by my side, but I'm pretty turned off by the idea of dealing with these agents who give you a wink and a smile, then act as if you are the last item on their list. Another bad agent could end up costing me money and slowing down the process when I'm this far in.<br/><br/>If anyone in the community has a recommendation for a reliable agent in Portland, OR, I'm all ears.<br/><br/>@Anthony: The selling agent I contacted said he represents both parties. Tue, 20 Aug 2013 02:00:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T02:00:00Z One thing to think about ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ <p>One thing to think about without using an agent to represent. I know in the Atlanta market many builders will not allow an appraisal contingency clause in the contract, so if the property does not appraise you will be&nbsp;forced to come up with the necessary additional down payment to cover the difference or forfeit your earnest money if you cannot. If you are going to go this alone, make sure you are not paying over market value or you could end up in a bind. Possibly you could hire an independent appraiser to help. This is just one item that can go wrong and does go wrong often in the current market.</p> Tue, 20 Aug 2013 01:34:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-20T01:34:00Z As always, you need to verify ... http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ As always, you need to verify this information with your state, but in Arizona the sellers agent represents the seller, not the buyer at all. &nbsp;Now with that said, it sounds like you have really bad agents. &nbsp;Having someone to represent you is a good thing. &nbsp;Now granted there is less control in a new home transaction then a buyers agent would traditionally have, but they still are out for your interests only, and will(should) check on the progress regularly, and look out for you. &nbsp;What I would do is find the number 1 company in your market, contact one of the top agents in that company....they didn't get there with bad service, and dropping the ball, and explain to them that you already have the deal in place, you just need someone to manage the process, I'm sure they will be delighted. Mon, 19 Aug 2013 22:59:00 GMT http://www.zillow.com/advice-thread/Is-It-Risky-Not-Using-A-Buyers-Agent/507657/ 2013-08-19T22:59:00Z