* SELLERS AGENT= Represents the home seller's best interest and tries to get the most $$$ for his seller and protects the sellers interest. they have no allegiance to a buyer or their agent. Their allegiance is to the seller.
* BUYERS AGENT = Represents the buyer's interest and tries to get a home for the buyer at the best price with the best negotiated terms.
Yes, as the other Realtor who answered your question stated, the Sellers Agent is representing the Seller's interest -unless they have what's called a dual agency with you too.
A dual Agency is where a Seller's agent must disclose to you, that he is happy to help you but his allegiance is to the seller. If an agent is representing both the seller and buyer, They may take "insider knowledge" of what you tell them - what you want, how desperate you are, how much money you really do have to spend, or what top price you are willing to offer and tell this information to the seller. (Not good right)?
If you still want to agree to this, be aware that he can disclose all your information & secrets (including what the top price is that you're willing to pay) to their seller. Still want to agree to a Dual Agency and use the Sellers agent? Then he/she must present you a form for you to sign that you understand that he/she will be a dual agent when dealing with you, and your best interests may not be fully represented and the Realty Company must offer that you may use your own separate Real Estate Agent to negotiate in your best interest at no cost to you. You can always decline and use the Dual Agent if you want to take the chance that you may not be represented fairly.
So the question remains: If an agent is representing the seller and only has the seller's best interest in mind to get the most money out of you (the buyer) for his seller, why would you want that person working for you too on the same deal? It's like the fox watching the chicken coop.
Now regarding your question of being told you were outbid by another party on an offer... if you are not represented by an agent, and you are representing yourself, I would advise you to address this question in writing by certified mail to the BROKER who manages the agent. He is bound by law to be responsible for all their agents actions and you have the right to get confirmation in writing of the validity of this statement by the agent. Lying to a buyer to shill bid up a property is a very serious crime and the agent can lose his/her license for lying about something like this. I doubt a Broker would lie especially if the question to the Broker is put in writing.
The bottom line...GET AN EXPERIENCED AGENT TO NEGOTIATE FOR YOU AND WHO HAS YOUR BEST INTEREST AT HEART! It costs a buyer nothing!
I hope this helped you understand.
Best of luck to you!
Please be advised that a listing agent is working solely in the seller’s best interest unless he has disclosed himself as a dual agent. I would suggest you consult with an agent who can work in your best interest as well, even this late in the transaction process. It’s unclear to me as to why you would need to increase your offer for a house that will be appraised under sale price, and especially if are unwilling to pay the increased price,
Perhaps this agent has some special “tricks” up his sleeve, but you will be bound to paying the agreed upon price if this is put in writing. I’d advise you to be very thoughtful about proceeding with this agreement and negotiating with someone who is being paid to advise and protect the seller.