Using one realtor for purchaser and seller

[cidley69]

Anyone done this?

What's your thoughts on the practice?

[Sugarphreak]

....

[cidley69]

You're saying it's good to use 1 realtor for both buyer and seller?

I think there's a conflict of interned , and it's impossible to do dual role without bias.

[403ep3]

I don't see what the big deal is.. I make the final decisions and if I don't wanna go forward with a purchase/sale then nothing happens until I say so?

Or am I thinking about this differently?

[Sugarphreak]

...

[cidley69]

Part bugging me is, how can one realtor effectively negotiate on behalf of opposing parties?

[skandalouz_08]

I've never done it, but if I was the one selling it would make sense since you'd be paying a reduced commission for using one realtor so more likely to sway a little bit more on your price. If I was the one buying I'd expect that the sale price would be more in my favor but I guess that's just the way I see it.

[A790]

I know of a few realtors that have done it. I think it's a huge conflict of interest and isn't an ethical practice, but those same realtors seem to come up with a bunch of reasons of how it's "okay".

[benyl]

They aren't the one negotiating, you are.

You should be in 100% control of the offer or the acceptance. If you are not, then you should find someone else.

A realtor is there to explain the options and should never decide or tell you what to do.

There is no conflict of interest as long as they disclose what is happening.

[cam_wmh]

Are there any realtor review websites, similar to rateyourmd ? http://www.ratemds.com/

[e31]

I think one realtor is too many...

[Type_S1]

Using 1 realtor only benefits the realtor. I would say no.

[cidley69]

Any realtors have an opinion on this?

Can you effectively be agent for both parties?

[ExtraSlow]

If you use one realtor for both sides, you should definelty get a discount on the comissions.

[bjstare]

I used a single realtor (this is called a dual agency btw) when I bought my first house.

It worked out okay for me. The only negatives I remember from my experience were tied to the realtor specifically, not the fact that I used him in a dual agency situation. I would neither recommend nor discourage it.

EDIT: You should absolutely negotiate a break on the commissions if you go forward with a dual agency.


I am a big advocate for dealing with realtors who specialize in specific areas, however, but that's another topic.

[Mitsu3000gt]

I've never been able to get my head around the size of Realtor commissions. I just can't imagine paying someone $15-20K++ to sell my house. Even if it took me 1-2 years to sell it on my own, that seems like the better way to go still, unless there is some emergency and you absolutely need out of your house in short order.

Especially if you have a desirable place, people will want to buy it with or without a Realtor. Then again, most people use Realtors even for selling...so what do I know haha. I just feel like they don't do NEARLY enough work to be making ~$20K a pop on house sales. I know they don't get all of that, but it's still what comes out of the seller's pocket.

Aren't private sales allowed on MLS now? And Realtors have a fiduciary duty to act in the best interest of the client, which may or may not be to show them houses with less commission (but I doubt that ever happens...).

[spike98]

Originally posted by cidley69
You're saying it's good to use 1 realtor for both buyer and seller?

I think there's a conflict of interned , and it's impossible to do dual role without bias.

I will disagree here. The last house i purchased i approached the sellers (builder) agent directly. He was also personal friends of the builder. The result?

List price $369k no fridge, no dishwasher, no driveway.

Purchase price $350k plus $2500 allowance for fridge/dishwasher, and a poured fully finished driveway.

Id say it worked out pretty good. Plus closing the deal was painless with very little back and forths. It was really a great transaction.