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
Cherry Hill NJ 08002
To find a true Exclusive Buyer's Agent go to: http://www.naeba.org .
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 buyerâ€™s agent but Iâ€™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.
Iâ€™d get an attorney to review things as well. Iâ€™ve had a deal where there was no disclosure of the attorneyâ€™s status until we went to closing without one for our side and found the buyerâ€™s name on the list of partners. Talk about feeling that we were playing on their home court!