Updated almost 7 years ago on . Most recent reply
Dual Agent , fiduciary duty and commission
I am about to put together a competitive offer for a multifamily around $400k in college town with over 9% cap rate, however so far I do not have a buyer's agent at this point.
The agent admitted that she gets 6 for representing both sides. That's $24000, as opposed to $12000 at 3%, a significant difference in most people's mind.
She has other offers coming from parties she also dual represents, so if I come in with my own agent my offer will mean her commission will be reduced to half. Even if my offer might come in higher than other offers I am worried that she is going to present more favorably offers that give her 6% over mine that will give her 3%, not only that I would be better informed.
Thanks and Merry Xmas.