If you're interested in pursuing this house, ask her (or her managing broker) to designate a different agent in the office to represent YOU. In Illinois this is called "designated agency" and the fact that they're the same office, or same company has no bearing... they would be your representative and watch our for your interests.
Or, of course, if you have a different agent that you've met along the way, that you like. (maybe someone you've met at an open house, or someone a friend or relative recommended) you can bring that agent in to represent you on the purchase of this home.
While it is occasionally possible to get a "dual agent" to reduce a portion of their commission, saving you some money, the potential liability, in my opinion, is not worth the risk.
1. You need to find out what type of agency the agents office pratices. Dual agency or designated agency. Sit down and take a read as to what the benefits and detriments are for you with each method.
2. Alot of agents in offices that pratice designated agency might refer you to a buyers agent from another office who will represent your interests or discuss with you what your options are.
3. In a dual agency office it only becomes dual agency if the agent and you agree to work together in a buyer agency relationship. Then it would have to be disclosed to all parties, buyer,seller and broker. There are specific laws that regulate this relationship.
4. Your in essence paying for the representation of a buyers agent when you purchase because the co-broke compensation has already been contracted between the seller & the brokerage. You should look into a top buyers agent to represent your interests & discuss options & negotiating methods and techniques.
5. There are attorney's out there that will work with you in a buyers agent capacity. Most will sit with you for a free consultation and flesh out the bullet points of what their services and assistance can do.
6. The sellers agent is bound by state law and if the agent is a Realtor to a code of ethics. Before you divulge important financial information & motivations on your part, find answers to the above 5 before delving too deeply into negotiations with the agent. Until there is a buyers agency relationship the agent will be working in the best interest of his client (the seller).
My office pratices dual agency and it has to be handled very carefully and all parties have to understand and agree to the rules & regulations for this special type of relationship.
Hope that helps
Today, you need a junk yard dog of a buyers agent - and the sellers' agent isn't going to be that for you.
There are a lot of hungry agents out there. Act accordingly.
Michael Kuldiner, Esq.
Law Offices of Michael Kuldiner, P.C.
T (215) 942-2100 | F (215) 942-9664
Michael@phillyesq.com | http://www.PhillyEsquire.com
Bucks County Office (Main Office)
922 Bustleton Pike, 1st Fl.
Feasterville, PA 19053
1420 Walnut St, Ste 800
Philadelphia, PA 19102
ERA Adams-Pevey Realty
I have done numerous deals where I've been a dual agent. In my opinion, the transactions run much smoother, there's no "second" middle man and the seller gets a break on the commission which, in most cases, has been used as concessions for the buyers. I haven't had any complaints, but my advice to you is to make sure that agent representing the seller is honest and truly has your best interest in mind as well. It's a great selling feature to be able to tell the prospective buyers everything they know about the home....other agents wouldn't know as much as the listing agent, The listing agent, of course, can not divulge anything that would hinder the negotiation process, but as far as knowing of any flaws with the home or the history of the home...that agent would be the best to be working with. Good luck in your endeavor and let us all know which way you decided.
If you feel this agency has been violated, the best thing to do is start with the agents broker. From there the broker can advise you on what your next steps could be. Also, you could go to the local board of Realtors and submit a complaint.
Community Best Real Estate
Dual Ageny is legal in Pennsylvania. Dual agency practiced competently may even make the transaction quicker or smoother, less co-ordinating. The consumer notice handles proper notification to both buyer and seller, its the law. The agent has to be competent to separate required legal disclosure from private information keeping in mind the agency relationships. In most cases the agent would be working with buyers and sellers at different times giving 100% to all offers or counteroffers.
If you do not feel the agent is competent or trustworthy, then by all means do not use dual agency, bring in a buyer's agent you trust and can rely on. If the agent is doubtful of dual agency, then I would recommend not using dual agency with that agent.
Would be glad to be of help if needed . feel free to call me at 866-207-5340 ext 2534.