Buyers agency agreement. R they really looking out for me?

[Neil Hauger]

I am trying to purchase a 4 plex with an agent I have a buyers agreement with. I have placed two offers on this property, neither have even garnered a counter. Asking price is 255K. I offered 235K the first time. That offer expired and then the property was taken off the market. A few weeks later I told my agent to write the second offer at full price with contingents I get to see the units and the financials as part of the contingencies. This full price offer got no response either!.

In talking to my agent I found out that this seller has a number of properties that he wants to 1031 into a large property but they have not identified the larger property. My agent has a 14plex he is trying to sell and divulged to me he would like to get this seller to buy that as part of the 1031.

I told my agent with this new information the price is not the issue, the timing is the issue so I am no longer in at the full price. I can use the sellers desire to sell a package of properties in a relatively short time as my leverage to get him to come down on price. My agent said he did not feel the seller was hard up to sell so he would not come down as he has a few buyers ready to go if I do not buy this. I asked so why then has he not sold them? If he had to he could but a 90 day close contingency to buy him some time to ID the larger purchase and then do the exchange??

My suspicion is that my agent is playing both sides. He has a buyer (Me) and a potential larger price property this seller can 1031 into. I had looked at the property myself but it did not fit my analysis. I think He needs to buy time to help sell the other agents properties and I suspect he is keeping me on the hook for this 4 plex while he and the agent sell the other units.

Basically, I suspect collusion despite having a buyers agent agreement. This agent and me are fairly good friends and I really hate thinking this way but my suspicion is I am being strung along. I have even suggested that I am at the next presentation of any offer I make just so I know my interests are not being leveraged in some way as I think I was here.

Comments?