Will it be better to have dual realtor as a buyer.

Question

Hello,

my husband and I are trying to buy Triplex but we never had this experience before. We have bought 1 single family house for our primary residence and bought 1 condo for our investing property in FL.

I contacted sellers agent and asked if we need our own realtor or can he represent buyer side as well. He said either way works.

I thought having dual agent might more motivate him to sell to us due to high commission.

However it will be our first triplex and we are worried if we don't get honest advice from realtor.

So I am not sure what will be better idea, to have our own realtor who can give more buyer side advice or to have dual agent?

I have been communicating with Sellers agent and I liked fast process.

Any advice will be appreciated.

Thank you.

Emran Chowdhury · Answer

As soon as you ask someone to be dual agent, he/she can't be on your side only. That's the reason there was two sides of the transaction agents.

Dual agent can't disclose anything to you which will jeopardize the seller's position. It's not about money or commission , it's about fiduciary duty & keeping real estate agents license. There are very strict rules for Dual Agent.

I would suggest get a buyer's side agent if you have not done this kind of deal before.

Jake Andronico · Answer

@Sejin Kim

There are many intricate details in a deal, particularly with multifamily in a tenant-friendly state like CA.

You can certainly use the listing agent if there is agreement from all parties (buyer, seller, and agent), which it sounds like there is.

But, they will not represent you. When representing both parties at the same time, there is an inherent conflict of interest.

I have dual repped before in Reno, NV and it can certainly work very well, but it also can be a nightmare if there is a disclosure issue.

I wish you the best of luck!

Brendan Mullenholz · Answer

Personally as a DC agent I don't ever rep the buyer and the seller.  If I'm listing a property and the buyers come to me I refer them out so they can get proper representation.  Also shifts the liability off of me since we live in a sue-friendly world.  When it comes to triplexes you're going to want to have someone looking out for your interest and since it's an investment/business for you, you're going to want to have someone double checking all the numbers.  Good luck with it!

Denise Supplee · Answer

Hi @Sejin Kim nice to meet you here on BP. Since it’s your first multi-unit, having your own buyer’s agent could really help, especially for advice on things like rental income potential, inspections, or zoning. A dual agent might be more motivated, but they legally have to stay neutral, so you might not get the same level of buyer-focused guidance. If you’re liking the seller’s agent’s speed and style, maybe ask them detailed questions and see how transparent they are. But overall, having your own agent could give you more peace of mind.

Noah Laker · Answer

Of course it's better to have your own representation. "Dual representation" is an oxymoron; one agent cannot balance two opposing interests without giving bias to one side or another, either directly or indirectly.

Aaron Lawrence · Answer

One yellow flag for me would be if the agent immediately responded dual agency would be acceptable when you asked. That would mean the agent and the seller would have to have had that conversation already and pre-approved a dual-agency since both the buyer and the seller have to consent. Entirely possible they could have done that but better to ask and have the response in writing.

I'd also add it would be unethical for that agent to promote a deal they're double ending over others if it's truly not the best deal if there are other offers the listing agent will not double end. Not saying it doesn't happen, but in my opinion if it does, that may tell you something about who you're dealing with. I've heard of some real close calls in situations like that.

You'd have some leverage to negotiate the commission with a buyer's agent if you limit the agreement to this one property since they would only be facilitating this transaction and they wouldn't have an on-going obligation to finding you a property.

John Morgan · Answer

@Sejin Kim

I’ve bought my last 30 properties with the listing agents. It’s so much easier to negotiate and buy the properties dealing directly with the listing agents. The seller only pays a 3% commission so my offer looks more attractive to them. I’m usually low balling anyway, but I like using the listing agents because almost all of them give me a lot of good intel about the sellers which I leverage when I make my offers. All my properties worked out great and I have no regrets. But realtors will tell you to get a buyer’s agent. lol

Lateefah Mathews · Answer

@Sejin Kim I totally get what you’re saying, and I also agree with the other responses here. Dual agency can work, but the most important thing is making sure you have the best representation, especially since this is your first triplex. When you have your own agent, their entire focus is on you like negotiating the best price, making sure the inspection goes smoothly, pushing for repairs or concessions if needed, and making sure nothing gets overlooked.

A listing agent representing both sides has to stay neutral, so while they can absolutely facilitate the deal, they can't negotiate against their seller for you. If the seller is offering to cover buyer agent compensation, then there’s really no reason not to have someone solely in your corner. Fast communication is great, but making sure you’re fully protected in this purchase is even better.

Will it be better to have dual realtor as a buyer.

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