And now for a word from someone NOT a used house salesperson... RUN! It smells, but you knew that, otherwise you wouldn't have bothered to ask. The fact that 12 members of the guild came running to soothe your concerns should tell you something.
Understand that the agent is NOT looking out for YOUR best interest, they are looking out for THEIRS. Even if they have no intention of actually bringing their own buyer to the deal (any -- you know -- work for their commission), they want you on record as having waived the fiduciary duty to you that they would owe to you IF they were your seller's agent. You signed a dual agency form? *POOF* They're not a seller's agent anymore. No annoying duties anymore (like confidentiality, fiduciary best interest, etc.). Really helps them avoid losing lawsuits after they *ahem* their cleints (you aren't No. 9, by any chance?).
Even by NAR's own statistics, on average a person buys a house once every 7 years. You think the agent is waiting for your repeat business? You'll buy two or three cars in that time, and think how trustworthy and long-term oriented the people in the car sales industry are. Realt(wh)ores have even LESS incentive to make you happy after you sign on the dotted line.
If the agent wants a dual agency form, tell them to cut their fee in half and get the other half from the other end of the transaction -- See how well that goes over.
Again, you knew it was bad, and you were right. Just act on it. - Wed May 14 2008, 14:32