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Updated over 5 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Madison, WI
12
Votes |
51
Posts

Buyer Representation Agreement

Account Closed
  • Rental Property Investor
  • Madison, WI
Posted

Hello,
I have two questions regarding Buyer Representation Agreements:


1) If I signed a Representation Agreement with a Buyer's Agent for a specific county, and I toured a property within that county without the Buyer's Agent, but rather with the Seller's Agent of the property, is my Buyer's Agent entitled to commission on this property that he did not show me?

2) If I signed a Representation Agreement with a Buyer's Agent for a specific property, and I toured this specific property without the Buyer's Agent, but rather with the Seller's Agent of this specific property, is my Buyer's Agent entitled to commission on this specific property that he did not show me?

Thanks!

Most Popular Reply

User Stats

6
Posts
1
Votes
Kevin Farmar
  • Westchester, IL
1
Votes |
6
Posts
Kevin Farmar
  • Westchester, IL
Replied

In the state of IL, the situation you are referring to is called dual agency. Regardless of what your agreement says with your original agent, if you are looking with the seller’s agent then the seller would need to agree to this as well. Unless you’re working with another broker for scoring off market deals, I would make the argument that you should have your own representation. Dual agency can and does work. However it is quick to get sticky as both sides of the transaction can start to question the agent’s loyalty.

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