Vega Moore, Home Buyer in 07060

Conflict of Interest

Asked by Vega Moore, 07060 Tue Nov 25, 2008

Is it a conflict of interest for a realtor to be listing agent, attorney, and seller?

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Surely by law there is no legal language i've found in New Jersey that prohibits it. I supposed it works sort of like a FSBO.
0 votes Thank Flag Link Wed Jan 7, 2009
Not at all Vega, as long as it is disclosed. I would not want to sign them up to represent me if i was a buyer, If you have a good buyer brioker they can guide you through the transaction so you can have someone on your side.
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0 votes Thank Flag Link Tue Nov 25, 2008

Unless there are additional circumstances, we concur with others that there is no conflict of interest as presented.
0 votes Thank Flag Link Tue Nov 25, 2008
Can a homeowner, who is both a licensed attorney and a Realtor list his/her own house? I see no conflict there.
On the other hand that person can't work for the buyer of that home as either a buyer agent or a dual agent - only as a single seller's agent.

So, where does that leave the real estate company the Realtor/attorney/seller works for? Real Estate listing contracts and buyer agent contracts are written at the COMPANY level. Individual agents, don't have listings or buyers, as they (individual agents) are simply agents of the company they work for. I think that puts the COMPANY (and all of their agents) in the same position the listing agent/attorney/seller is in. They can't represent a buyer in the purchase.

I'm sure there will be other comments.

Paul Howard, Broker Realty
Cherry Hill NJ 08002
To find a true Exclusive Buyer's Agent go to: .
0 votes Thank Flag Link Tue Nov 25, 2008
Vega: Not at all. How would a person who was all three sell their property otherwise? There are disclosure rules for real estate agents. That simply means they have to tell you they have expertise that the average buyer may not possess.

The proper response to this information, and I assume that it was properly disclosed to you, is to hire like knowledge and expertise for your side of the deal. I know that someone will come up with the fact that buyer's agents are better than dual agents and in this case, the seller as his own agent in handling your deal. I disagree that it is intrinsically better to have a buyer’s agent but I’m not going to debate that again. Since you are far enough along to know of the seller's expertise, it's likely that you may not be able to get the seller to pay for advice that you feel you need, a common practice in multiple listings. On the other hand, you may have gained this knowledge by having a buyer's agent already. In that case, if they are truly knowledgeable, they should be able to confirm how the situation will run, should you go to contract. If they can't, you might take the problem up with their managing broker, who should make every effort to be sure that you get the best representation in this tricky deal.

I’d get an attorney to review things as well. I’ve had a deal where there was no disclosure of the attorney’s status until we went to closing without one for our side and found the buyer’s name on the list of partners. Talk about feeling that we were playing on their home court!

Best wishes!
0 votes Thank Flag Link Tue Nov 25, 2008
I know it does not sound right but if they are disclosing this information it is ok. They are completely representing themselves in everyway. With that in mind you would be best served as a buyer to have an agent that is not affiliated with this agent/attorney/seller. So you have someone looking out for your best interests. If you need help finding an agent in your area feel free to contact me. 973-223-7206 Jean Doyle
0 votes Thank Flag Link Tue Nov 25, 2008
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