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Updated over 8 years ago on . Most recent reply
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Made an offer without agent, seller's agent wants to be my agent
Like the subject says, I made a cash offer on a SFH home to the seller's agent. She just sent me an e-mail saying that she wants me to sign something that says she will be representing me as a buyer's agent as well, effectively becoming a dual agent. She's tried hard to get me to increase my price as much as possible, which tells me that she's working as a seller's agent.
First question: Is it a good idea to ask her I don't want her to be my agent? I'd rather her not represent me so I can figure out how to purchase properties on my own, and I made the offer on my own and would like to review the contract with a real estate lawyer. It feels a bit disingenuous for her to act as my agent and then tell me that I need to increase my offer to match the seller's asking price.
Second question: Do I have any leverage in this case? Otherwise, will she just become my agent by default?
Third question: If she becomes my agent, is there anything extra I have to pay in terms of fees? I'm aware of the standard 3% commission for each buyer agent and seller agent, and I know if she becomes my agent then she will basically get the whole 6%. And if she doesn't become my agent, she will have control to keep or rebate the 6% commission as she sees fit.
Sorry for all the questions!
Most Popular Reply
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- Rental Property Investor
- East Wenatchee, WA
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When I offer solo (which is all the time) I state I will remain un-represented unless the offer is countered.
If the offer is countered, I state I will obtain my own agent or I that the LA will only charge the seller 3% because there is no other agent to split the commission with like usual.
The net to the seller just increased 3%.
I always offer 3% less solo than I would represented. My offers are countered less because the LA will get both sides if not countered and they know that.
Having an agent represent you is NOT free.
No way would I accept the LA as my agent. She has a fiduciary relationship with the seller and is working for them. I'd go solo and earn the savings (if you are experienced) or obtain your own quality agent from a different brokerage @Michael Kim.