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Updated almost 3 years ago,
Concerned about using the sellers agent (dual agency)
Hi all,
I am a first time home buyer. Looking to buy a home in a hot market (like everywhere). Through a friend in the area I'm moving to, I found a home that hasn't hit the market yet but is in a location that would probably get multiple offers in its first day on the market.
I talked with the agent that is selling the property and he/she wants to be my agent for the transaction. I know usually it's not in my best interest to have the same agent as the seller because there is a conflict of interest. However, if I work with this agent, I am more likely to get the home because it will never hit the open market and have someone else out-bid me. She told me the price they were planning to list it at and what they wanted to get ($10,000) more than the list price and I feel comfortable with the price they want. I just don't want to end up over-paying for a home significantly.
So I guess TL;DR: do I work with the same agent as the seller despite the conflict of interest so I can be first in line to buy the home or do I get my own agent and risk that the home hits the open market and I don't get the home.
I guess one more thing: I'm moving to a pretty dangerous city and there are only a handful of neighborhoods that I feel comfortable with safety-wise that are in my price range and this home is in the neighborhood I'd most like to live in.