Home Selling in Philadelphia>Question Details

Dtexpress, Both Buyer and Seller in Philadelphia, PA

Can the realtor buy my house from and then put it on the market to sell.?

Asked by Dtexpress, Philadelphia, PA Fri Oct 8, 2010

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Dear Home Selling in Philadelphia,

I assume that you are implying that your real estate agent is the listing agent for your house. Your real estate agent can buy your house from you. The question is whether the action is ethical or not.

Ultimately, you decide whether his | her actions are acceptable. If he is offering price and terms acceptable to you, then what difference would it make if he offered it to you or someone else offered it to you as long as he was honest in his dealing with you? If you feel that he was not honest with you in preparing and pricing your house, then you can always turn down his offer. You are the seller and determine what price and terms you accept.

Cheers,

Rich
Web Reference: http://www.RichLeeRE.com/
0 votes Thank Flag Link Fri Oct 8, 2010
Good questions.
Is the buying agent YOUR AGENT?
0 votes Thank Flag Link Fri Oct 8, 2010
Yes they can but it would have to be disclosed.
0 votes Thank Flag Link Fri Oct 8, 2010
Without many details, not an easy answer--was/is the Realtor your listing agent, is he/she handling the transaction, was/is a fair selling price determined and were you provided with accurate comps, etc., --yes a Realtor can purchase your property, but depending on the situation a conflict of interest may occur--consider asking your question again with more details, or consult with an attorney who specializes in real estate.
0 votes Thank Flag Link Fri Oct 8, 2010
D,

Was this agent your listing agent? If so, from where I stand this could involve a conflict of interest unless properly handled. Additional information would be helpful.

But if you feel you were taken advantage of, consider contacting the agent's broker followed by the local board of realtors if still feel you were not treated fairly.

Good luck.

Bill
0 votes Thank Flag Link Fri Oct 8, 2010
Legally YES, why not? But if he/she does that they have to disclose they are a salesperson to you, and it should also be right up front in the contract what their relationship is to you. They should not be "your agent" if they are also buying it. A broker should step in to make sure everything is done properly.
0 votes Thank Flag Link Fri Oct 8, 2010
Your question is short on details. The question cannot be properly answered without all the facts. However, problems can occur when a broker lists property, then decides to buy it and collect the agreed-on commission. This is referred to as self-dealing. At that point, those brokers represent themselves but continue to act as the seller's agent as well. It is recommended for agents in this position to give up the listing, collect no commission, and just represent themselves as buyers.
Web Reference: http://www.clovelake.com
0 votes Thank Flag Link Fri Oct 8, 2010
Yes. That's not the business model of most Realtors. Still, I know some investor Realtors who certainly do that.

When a Realtor buys your house, he/she is supposed to disclose to you that he/she is a Realtor. That's for your protection. But if you are aware that the purchaser is a Realtor--perhaps with a better knowledge of values than you yourself have--and you are willing to sell at an agreed-upon price, that's OK. And then if the Realtor wishes to put it on the market to sell it, that's OK, too.

The most likely area of difficulty is whether the purchasing Realtor made full disclosure. And if it was your own agent, then it gets even more complicated.

You might want to check with your agent's broker.

Hope that helps.
0 votes Thank Flag Link Fri Oct 8, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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There are a lot of scenarios that could play out unless we have more information. Yes, a Realtor can buy a home and then put it on the market to sell. Please add more information to the question, like was this your realtor who listed your home? Sell it back to you? Did the Realtor have you list at a low price, bought it, and now trying to make a profit?

We can help, but we need a little more information to answer your question clearly.
0 votes Thank Flag Link Fri Oct 8, 2010
'The realtor'? Maybe. Is your house listed to sell by this agent? Who is the agent to you? Is the house listed by your agent and another agent wants to buy it? Has this already happened? Can you provide more detailed information?
0 votes Thank Flag Link Fri Oct 8, 2010
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