Property Q&A in 01027>Question Details

Allen Hall, Both Buyer and Seller in 01027

If you a buy a house directly from the listing agent and they are your buyers agent do they collect double

Asked by Allen Hall, 01027 Tue Jun 16, 2009


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Potentially, you would have to check what contract & type of agency they pratice. But a listing agent that works for the seller & handles the buyer could very well collect the full commission negotiated in listing the house.

Many times buyers use this as rationale that they can get a reduced price, but that has been negotiated between the seller & their listing agent and if there were $$'s to be given it would more likely be given to the seller than the buyer because the seller & listing agent have a contract between them.
0 votes Thank Flag Link Tue Jun 16, 2009
Please keep in mind Allen that the Listing Agent's first loyalty is to the Seller. They are listing the property and collecting the commission from the Seller, and if you are an unrepresented Buyer, there is no cooperating brokerage that they need to share the commission with. Remember that they have signed a contract to sell the property at the best possible terms and conditions for their client, the Seller. If you have previously signed a Buyer Agency contract with that agent, the best that that agent could do for you in that transaction is act as a Disclosed Dual Agent. Both Buyer and Seller lose their agency relationship in that case, and the agent is limited in the information that s/he can legally share with either/both Buyer and Seller. Many agents chose not to practice Disclosed Dual Agency, but for many, the benefit of collecting both sides of the commission is too attractive to pass up. I wish you all the best in this type of transaction!
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0 votes Thank Flag Link Tue Jun 16, 2009
(unless your contract states otherwise, which i highly doubt it does ...) That agent collects double the commissio and they essentially get paid more money NOT to give you as the buyer advice (because are legally obligated to the protect the seller in those situations). Not to mention that agent will get paid more if you pay more for the house so they are incentivised to drive the price up.
0 votes Thank Flag Link Tue Jun 16, 2009
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