In other areas of the country, the agents draft contracts. That doesn't happen here. There are times when it doesn't make sense for people from out of the area to give advice, when they don't know how things work here. The listing agent could be the easiest go between if you need information about the co-op for a mortgage, if you are planning to apply for one.
In the future, it might be a good idea to scroll down and check out a few other responses in a forum before answering...............if you did, you would have seen your post from Sept. 18!
(in case you don't know - you can see when the question was first posted by looking underneath it - in the lite font)
Geoffrey Stevens Realty
Agents sometimes use the wrong terminology when discussing this issue. I won't get too deep into that in this answer (unless I change my mind), but here are the basics:
The agent that showed you the property should have disclosed the agency relationship s/he is operating under. If it's was the listing agent, then it's seller's agency. This disclosure should have been done in writing, so that you could read exactly what that means (there's a NY State-required disclosure form). Normally, you would be his/her CUSTOMER rather than CLIENT. In NY, that means they are required to deal honestly and fairly with you, but owe fiduciary obligations to the seller (including full disclosure, undivided loyalty, obedience, confidentiality, accountability, and reasonable skill/care/diligence). They are supposed to negotiate on behalf of their client, as they are working FOR the client and WITH you. This is the normal scenario in the situation you described - this is NOT DUAL AGENCY. In dual agency, the broker would have DIVIDED LOYALTY and NO LONGER PROVIDE FULL disclosure. This would have to be disclosed in writing and be agreed to by both parties, and would generally come up where you are a buyer-CLIENT (not customer) of the broker (meaning you hired them as a BUYER'S BROKER) AND are interested in buying one of their listings.
But wait, there's more! Since you saw the unit with the listing agent, things may get complicated if you now engage another agent to present your offer. The listing agent may take the position that they are the "procuring cause of sale" and resist compensating the agent you've involved. There are several ways that could play out, and it should be handled carefully.
So, here's my advice (assuming this hasn't been resolved already): First decide whether you feel comfortable negotiating for yourself. If you do, you can present your offer through the listing agent. This may be the path of least resistence. If you don't feel comfortable, speak with another agent about assisting you (be open and clear about the situation). Make sure they understand agency well, or you may just complicate matters. Also, decide with them whether you want them to act as buyer's broker (most readers would assume you would, but it may not be that simple depending on the details).
Feel free to reach out to me directly if you'd like to discuss further. Good luck!
Going with a buyers agent to repersent you is a good idea.
They can professionally guide you through all the
paperwork and negotiations on your behalf (including meeting
with agents, lawyers, banks, inspectors and appraisers).
Licensed Real Estate Agent
Century Homes Realty Group LLC
Direct Line: 347-932-0609
Office: 718-886-6800 ext.305
Working with the listing agent is referred to as "dual agency", It is legal in NY (and NJ), and is practiced on a regular basis. In this scenario, the agent must treat all parties equally and fairly.
You will have an attorney to represent you, and oversee the legalities and verbiage in the contract.
This is a hot topic on many threads, and, in my opinion, the often used analogy saying it is like having an "attorney defend and prosecuite you" is silly, as this isn't a trial. The parties have the samee goal - the sale of the home. It doesn't have to be adversarial if handled in a professional manner.
There is no reason to find a new agwnt to represent you at this time, if you already saw the co-op, and have a comfort level with the agent in question.
If you have the proper qualifications, there is no reason you should have a problem working with this agent.
Also you have your own attorney who represents you.
Connie Pinilla, Esq, Broker, Pinilla Realty Corp