Is my agent representing both sides risky ?

5 Replies

My agent has been amazing, she really works hard to advise me and show me great properties. She presented me with something off-market that she is going to list in a few weeks, and it seems like a great deal. Is it too risky to have her represent both sides? Has anyone had a bad experience with something like this?

Is there risk? yes. But presumably you are working with your agent because you trust them. If you dont trust them, then why are you working with them?

One of the skills you want your agent to have is to find you off market properties....seems like they check the box on that one.

Originally posted by @Danny Kaminsky :

My agent has been amazing, she really works hard to advise me and show me great properties. She presented me with something off-market that she is going to list in a few weeks, and it seems like a great deal. Is it too risky to have her represent both sides? Has anyone had a bad experience with something like this?

I sell a lot of my owner finance houses thru an Agent. It is very common for the agent to bring the buyer Even though the agent was the one that listed it on the MLS.. The agent already understands the way I want to do my owner finance transactions and I already have my terms pretty well lined out. Now if the buyer Has additional request that is presented to me verbally typically before it goes into a written contract. So yes you might actually have a smoother transaction by having one agent help take care of both parties.

@Danny Kaminsky I agree with the above comments, if you trust her, that’s what’s most important.

In a dual agent deal:

Buyer (you) - benefits from the off market deal that you may not have to compete for.

Agent - gets both ends of the commission, they’re happy

Seller - only gets one offer from one buyer, if everything goes as planned for you and your agent. Personally, I think it sucks for a seller, generally. Agents love that double whammy, though.

May the seller wants the no hassle of a quick offer, who knows.

Regardless, you’re in a good position, as long as there are no hidden surprises with problems in the house.

You just have to keep in mind that the agent legally is ows feduciary duties to both sides meaning she is not allowed to tell the seller things that the buyer does not want to disclose (such as the max amount he is willing to pay and vice versa). In this transactions the agent is supposed to act more like a guide to help make the transaction go smoothly and not as a negotiator representing either side. Meaning the agent might not be able to advice you as much, but if you are experienced enough and you know what you are doing it almost eliminates risk. If for some reason the agent falls out of line to either side the affected side can sue for losses. Nontheless, it is better if you don't tell your agent things you would want the other side to know to prevent any accidents.

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