Foreclosure in Spring>Question Details

Carol, Home Buyer in Spring, TX

As a buyer, is it ever acceptable to use the listing agent of a property you're interested in, as your agent?

Asked by Carol, Spring, TX Tue May 19, 2009

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8
Yes it is acceptable to use one agent in a transaction. The agent is a transaction broker and can represent both sides fairly.
1 vote Thank Flag Link Tue May 19, 2009
Its not a matter of if its acceptable because there isn't anything wrong with it however you need to understand that the listing agent is in contract to represent a seller in a transacation and his/her obligations to you as a buyers agent are hindered on what he/she can advise you. There isn't as much liberty in having the listing agent represent both sides. For more negotiation power and freedom to discuss the property with your agent I'd suggest you get a buyers agent to represent you. Next question have you already started communication with the agent and have you already looked at the property with them? If so there is a fine line of the listing agent being the procurring cause and that's another issue.
1 vote Thank Flag Link Tue May 19, 2009
While it is legal in the stae of Texas for the Real Estate professional to work with both Seller and Buyer there can be some issues. Great question because it can really be confusing. The answer can best be answered by asking what are your intentions? If you are a savy Investor you know there may sometimes be a small amount of wiggle room if there is only one Realtor. You can also request a Buyers agent from the Realtor to be assigned to you. In new construction it can be to your advantage to work with the Realtor representing the Builder. It just all depends on your expectations of outcome. If you are uncomfortable the best answer is to ALWAYS have your own Realtor.
0 votes Thank Flag Link Sun Oct 4, 2009
Yes and NO. While it is legal, agent should not serve 2 masters (Buyer and Seller) for the same reason you are asking this question. It causes doubt and confusion to the buyer. Get your own agent. Most do not charge up front but rather when the deal closes. If you had a speeding ticket you would not use the procecutor would you? No. You would get your own attorney. ...........Same thing.

Carl Bostic
Jobin Realty
Alexandria Virginia
1996-2009
202-459-4676
0 votes Thank Flag Link Wed Jun 3, 2009
Carol.
Here is a link to how agents in Texas work.
Don't forget if you use a listing agent they are on the Seller's side and not yours.
They do not represent you.
Here is the link.
http://www.rebateontexashomes.com/IBS.pdf
Hope this helps you out.
Jeff
0 votes Thank Flag Link Tue May 19, 2009
For each individual it is not a question of acceptable rather one of if it is wise. Carol you are more familiar about your knowledge of contracts, inspections ect.. You may be the type of person (they exist) that can handle that or wants to learn..whatever.. the point is if you feel weak in that area then you want someone on your team helping you. A Professional that you have researched, interviewed, and spent time checking the accuracy of their advice. Be informed about the market area you are interested, decide if you want help with the process and remember if the seller is smart they did the same thing when they researched and hired a Professional to work for THEIR INTERESTS.

Good hunting, Dunes
0 votes Thank Flag Link Tue May 19, 2009
While most realtors would love to have the commissions from representing both buyer and seller, its usually not a good idea. The reason is conflict of interest.

For example, the listing agent should be trying to get a fair but higher offer for the seller and to protect their interests. If they represent the buyer too, they can't reasonably negotiate a lower price and a higher price at the same time.

This is particularly important if any type of contract dispute occurs.

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0 votes Thank Flag Link Tue May 19, 2009
RULE OF THUMB NEVER PURCHASE DIRECT ANY OF FOLLOWING:
Bank, Builder, For sale by owner, listing agent

Always problems majority of time best obtain your own buyers agent

National Featured Realtor and Consultant, Mortgage Loan Officer, Lecturer regarding Credit Repair
Lynn911
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue May 19, 2009
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