So, if you're not comfortable, you can choose to find another agent to represent your interests exclusively.
What do you mean "My sales agent"? How is he your agent?
Is he a listing agent that you contacted about his property?
Was he already acting as a buyer's agent showing you properties listed by other brokers?
It should only be dual agent if he previously was acting as buyer agent showing you properties listed by other brokers and you decide that the property that you want to purchase is his listing or a listing of another agent with the same brokerage. Then it would be dual agent with designated agents/seller/buyer.
If he is a listing agent and you are interested in buying his listing and had no previous buyer agent relationship with him you have two other options other then dual agent.
1. He is the sellers agent and represents seller. You sign that disclosure only. He must treat you fair and honestly and in good faith.
2. You hire a buyer's agent to represent you.
There is no need for dual agent unless he has already shown you other property listings. He may not understand agency law. Many agents don't. However, dealing directly as a buyer with an honest knowledgeable experienced listing agent albeit representing seller may still be a better option than hiring an in experienced weak buyer's agent.
Lic. Associate RE Broker
The best arrangement for both buyers and sellers is when each party has their own personal representation.
Simply stated, if you were going to trial, would you feel comfortable having the prosecuting attorney serve a dual capacity and defend you? This may be an over simplification but it should get the message across.
Good luck with your purchase.
I like Bill's answer below, and the comparison to having an attorney represent both parties during a trial.
Although most agents will likely "guarantee" that they can represent the best interests of both parties effectively, in my opinion it's almost impossible to. How can they ensure they are getting you the "best deal possible" - when it's their duty to deliver that same promise to the other party as well?
In a dual agency situation - agents shouldn't be taking "sides", as they owe the same level of service and disclosure to both parties. If it were me, however, I would want an agent who is representing and protecting my, and ONLY my, best interests. At the end of the day - it's really up to your discretion and comfort level on which way to go.
Hope this helps!
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Best of luck!
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
The disclosure form is just telling you the fact that the agent is representing the seller and you in case you don,t have an agent and you want to buy that the property without having an other agent to represent you.
If you decide to buy that property and have your own buyers agent you can do that. The disclosure form is not a contract and is not obligating you of anything.
When you come to buy your first place in New York City you can chose any agent you like.
I hope I answered to your question.
Veronika Baba Kian Realty NYC
email : Vbaba@kianrealtyNYC.com
phone 347 528 5573
Whether you should go with him is a question that ultimately turns around whether you trust him enough to represent both you and the seller. This is a question that only you can answer but I think that it is always better to have your own representation. You want to obtain the best price possible on the property. As Terry said, it's always better to have somebody who represents you and only you.
I hope this helps.
Nicolas Puygrenier ǀ Licensed Real Estate Broker
Mona Lisa Real Estate Group LLC
419 Lafayette Street, New York, NY 10003
Telephone: 917 499 1917
Accredited Buyer Representative