NO. Not every buyer wants to be represented by an agent. In fact, no law exists that would require a buyer or a seller to engage the services of a real estate licensee. Some buyers like working with several different brokers. Some buyers, especially experienced buyers, are happy with the services provided by a seller's agent: help in finding a suitable property, information about property values, help in preparing and presenting their offer, and aid in securing financing. All of these services can be provided to a customer by an agent representing a seller.

Carmen,

The fact that you are questioning this arrangement may be an indication that you see something that you are uncomfortable with. If this is the case, it probably would be advisable to let this play itself out by continuing to collect information until you have the clarity you are seeking.

From a personal perspective and independent of laws and policy, there may be a greater comfort level enjoyed when having your interests protected independent of other parties.

Good luck

Robert, no need for you to try to "clarify" what I said - although this really isn't the forum to discuss dual agency, or to instruct you as to the reguations in NJ, I must respectfully tell you that you are incorrect as to what is done or how it is handled in NJ.

In NJ, we are considered disclosed dual agents if ANYONE in the company shows a company listing - it doesn't have to be the agent showing their own listing. . Our legal repsonsibility is to treat each party fairly and equally. i would be happy to fax you a copy of the NJ Consumer Information Statement so you can read it for yourself if you are interested.

In the meantime, here are just a few lines taken directly from the CIS (consumer information statement) that buyers and sellers must sign, and we, as agents, must explain to them

"As a disclosed dual agent, I, as a licensee, represent BOTH parties. However, I may not, without express permission, disclose that the seller will accept a price less than the listing price. or that the buyer will pay a price greater than the offered price". " A brokerage firm acting as a disclosed dual agent will not be able to put one party's interests ahead of those of the other party and cannot advise or counsel either party on how to gain an advantage at the expense of the other party on the basis of confidential information obtained from or about the other party........."A disclosed dual agent works for BOTH the BUYER and the SELLERr"


It is boring for others to read about that here, but I wanted to clarify this , as you felt the need to correct me. As a disclosed dual agent, I can absolutely NOT repeat anything I might have learned or overheard about the buyer. I must disclose any material facts or defects I know about the home, however. I am legally bound to do that even if it isn't a disclosed dual agency situation.

Apparently from what I have read on Trulia, this is handled differently from state to state. I clearly stated what is done in NJ, and also said that business practices vary from state to state, so I made no statement as to how it is handled in NY. I hope I have enlightened you as to how we handle dual agency in NJ.

Carmen - good luck in whatever you decide to do!

Best wishes,
Debbie Rose

Hi Carmen,
Just to clarify the previous answer from the agent from NJ, the sellers agent is not legally allowed to treat you both equally. That is a violation of her fiduciary obligation to her client, the seller. If you tell the sellers agent anything that could hurt your bargaining position, that agent must inform the seller, and not vice versa.

So for the biggest purchase in your life, wouldn't you want someone to work for you, not for the other guy?
If you have any questions about real estate, just call me, Robert at VIP Real Estate, on Staten Island.
Good Luck
718-967-2600 x312.

HI Carmen

Short answer to your question - NO ....you don't always need your "own" agent.

You will lfind a number of agents or laymen who will be jumping in to answer this question. Many will say you should only have a designated "buyer's agent". That's your choice.
When you are working with the listing agent you are involved in what is called "dual agency". In NJ, this is perfectly fine, and done all the time. In fact, we must by law give buyers (and sellers) a Consumer Information Statement clearly detailing what the agency requirements are, and what is involved in that kind of business relationship.

Normal business practices vary from state to state.

Some people prefer to use the listing agent, because think they will get the "inside" scoop if they use themt. This really isn't true if the agent abides by the requirements not to disclose any information that will put one party's rights above that of the other party.

Some people think the agent will automatically reduce their commission if they sell their own listing - this isn't necessarily the case, either.

My point is...........if you want to reach out to the listing agent, go right ahead. Many agents in my area sell their own listings, and I have, as well. It is very common for me to get internet inquiries on my listings, and I happily follow through with those leads and show the home. I sold 2 substantial homes last year from internet inquiries, and all parties were quite happy. I have no problem treating both the seller and the buyers equally and fairly in that kind of situation.

If you would feel more comfortable using an agent other than the listing agent, then go ahead and do that. Just don't start with one person, and look to switch midway.

Hope this helps.

Best wishes...
DebbieRose
Prudential NJ Properties