Asked by Aisa, New Jersey • Mon Jan 7, 2008
Hi. There is a property I like in which case, both the seller and my(the buyer) agent is the same. I want to put a bid on the property. There are bids from other people with different buyer agents. It is quite obvious that I can put a lower bid than the others, our agent can ask for a lower commission (as she is going to get a double commission) and everybody turns out ahead (i.e. seller gets a more net, agent gets more commission and I get a lower price). The question is: Is it allowed /ethical for the agent to let us know of a good price based on the other bids that come in? She has indicated that it would not be right to let us know the other bids (she might be right / she might want us to pay more as she knows our limits / she might be hoping for a full double commission). I just want to know how much can I ask of our agent in this case. Thanks.
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