Same agent representing buyer and seller for investment property

[Vandan Mehta]

Hello, I am a first time investor and I reached out to an agent for helping me in the process and he sent me couple of his own listings. While they look attractive, I am not sure if this is a good idea to have the same agent representing both me and the seller. Can anyone please share their experience who have been in the similar situation? How can I find out if agent is looking out for me? Thanks..

[Charlie MacPherson]

Especially as a new investor, you need your own agent.  A Dual Agency is legal in many states, but borderline unethical.

In that relationship, the agent is supposed to function as an impartial representative for both sides.  That means that if he knows something useful about the other side in negotiations, like "they absolutely have to close by X date", he cannot share it with you.

You need someone on YOUR side and in a Dual Agency situation, you don't have it.  There's a reason we don't let the fox guard the hen house.