that's not what you hired your buyer's agent to do... you hired him/her to be a pit bull to advocate for your side. As a dual agent, they are reduced to asking questions like "I don't know what we should offer... what do YOU (the buyer) think we should offer?" or "I don't know if the cracked foundation is enough of an issue to cause us to walk away from the home.... how do YOU feel about it?"
well if it is between the bank and a regular person, why would they favor the bank over people?
It may or may not be the case that the listing agent would work harder but having been in this dual agency situation, it can be difficult to remain impartial and not favor one side over the other. This is only my experience....it doesn't mean everyone is effected the same way.
On a broader sense, we consider the comment a gross generalization that is intended to lead you in a specific direction. Our best advice.....ignore this comment and reach your own opinion.
Dual agency leads to many people losing their RE licenses, because not one, but BOTH clients get inadequate representation and the only person benefitting is the agent.
It is not reasonable to expect a listing agent to work any harder for you personally, as buyer, just because he is the listing agent for the house you want to buy. He is already sworn to look after the best interests of the seller. As a rule, you are better off to have a buyer representation agreement with an agent who is not tied in any way to the seller.
I'm not saying the listing agent will not work hard to keep a deal together if he is going to get both sides of the commission. But that doesn't mean he will work harder for you personally, in a fiduciary sense.
I'm not saying an agent cannot be completely ethical if he is representing both buyer and seller. But, here in Texas at least, the laws and regulations do not let him do as much for either party under those circumstances.
The agent cannot give "secret" info regardless to who she is working for.
as far as working "harder" its the same amount of work regardless
I may be biased because I am exlusively a buyers agent, however I do not agree with this statement. Reason being that the law in Ohio states that a dual agent cannot put one party at an advantage over another. This means that the agent cannot tell you if you are paying too much, they cannot advise on inspections, repairs, etc. unless authorized by both parties to disclose such information.
Your interests will be best served by hiring your own representation. You will find that an agent will work hard for you if you commit to one person. We all have access to the same listings from the MLS.
I encourage you to read the attached agency disclosure statement regarding dual agency.
The link explains how it's done in NJ, every state has a State Association for Realtors and they usually have information for the public.
now if one side is a bank, everybody says you would be representing the bank and not doing the buyer justice, but you say that you can do both justice???????? right???????
As a professional real estate agent, you must maintain a high standard of work ethics which include being fair and honest at all times.