This is the ideal situation for a realtor. You can walk into an open house that they have for an existing client.
Although you love the house, you are not yet ready to make an offer. The agent for the seller explains that he can be a dual agent.
This is a good idea as he can speed up the process and negotiate for a lower commission. You might also find that it works in your favor when you make an offer.
There are still risks to not hiring a buyer’s agent in Fort Lauderdale Florida.
Too Nice in Compromise
A good choice is a realtor who is willing to bulldog the other party and explain your position when negotiating the offer and credit after inspections.
A dual agent realtor might not be as aggressive when negotiating because he wants both clients to be happy and the deal to go through.
Even though he may not be thinking about the bigger commission check, his subconscious knows that he makes more from the dual agent situation than he would if he were representing the seller.
Dual agents are usually loyal to the seller first. Although it might not be obvious, the seller trusted the dual agent to list the house for sale and place it on the market.
Because he has been working for the seller for a longer period of time, his relationship with him is stronger. In many ways, you are a third party to the relationship.
It is important to communicate clearly with the dual agent your goals and his. Clarity is key to avoiding conflict.
Dual representation agents could be meeting all real estate standards or even exceeding them. If things don’t go your way, it can seem that the agent favors the seller more than the buyer. Buyers can be very demanding after inspections, asking for everything to be fixed or credited. Buyer agents often explain to clients that they are unreasonable in many cases.
In a dual-agent situation, the buyer can easily interpret this as the agent representing the seller and not his interests.
No Negotiation Strategy
The agent can’t give advice or negotiate offers in dual representation situations. He can’t pit the seller and buyer against each other, which would be unprofessional.
A buyer’s agent can give you strategic advice about approaching the sale based on market conditions and information you have about the seller.
This advice is lost if you don’t have a buyer agent.
Not Always Legal
Many states do not allow dual representation due to potential conflicts.
Check your Fort Lauderdale Florida real estate agent board to determine if dual representation is an issue in your region.
You should file a complaint if you are told that an agent can represent the seller in a jurisdiction where it is illegal.
If you want to buy a house and your credit score is low, or you don’t have the required downpayment, speak with one of our agents.
Stop wasting money on renting and start creating lifelong memories in a home you love and will be proud to come home to.
We can help when you are ready to buy a house in Fort Lauderdale Florida Call us Sellers: 954-281-7487
Buyers: 954-247-4285! You deserve this!