I would strongly recommend that you find an agent you like and trust to help you sell your current home and buy your next home, provided you are staying in the same area. If you are moving to a new area, I would ask your selling agent to recommend someone in the area you are relocating to.
As to the practice of discounting the commission if the same agent handles both transactions, I see nothing wrong with that. That is an individual choice each agent, along with their broker should make.
Some have said that because an agent will negotiate on their own commission, that they would not work as hard for their client as someone who would not. Speaking only for myself, I would respectfully disagree because my work ethic is not determined by my commission, it is determined by my character. If I agree to accept a lower commission because my client has agreed to work with me to buy and sell their next home, I will do my best to look out for my clients best interest regardless of that agreement. Accepting that agreement binds me to do the very best I can in all that I do! I know that if I serve my client well and they make a successful transition to their new home, I get the satisfaction of knowing I did a great job for them. I also hope they would be able to recommend me to their family, friends and neighbors as an agent who is committed the highest quality work ethic and that I did my best for them every step of the way!... more
This is exactly why it is so important to find a good agent. If that was part of the contract between you and the broker, I believe the agent should have made sure you understood what would happen if the tenants backed out. Even if the deposit is "legally" the brokers commission, everyone can make an ethical decision of whether to keep it or let the landlord have it. Sorry you had such a bad experience with an agent. We are not all created equal!
Amy Suzor, Associate Broker
Cassidy & Company Real Estate