RE Agent representing both buyer and seller
Hi
My wife and I have checked out a house online sent to us by our agent. Before we register any interest in the house and actually schedule a viewing, I'm a little concerned because our agent happens to also be the agent of the sellers. I had a few questions with regards to this situation
1-Isn't there conflict of interest for the agent? What does code of conduct say in this situation?
2-Does the agent still make 5% commission? If we buy the house the agent would be making double what he would normally make. Is there room to negotiate that with the agent such that it is a win-win situation for both him and us (Perhaps a 3% commission)?
3-What other advantages/disadvantages do you see with such an arrangement that we should be aware of? Anyone who's been in a similar situation, please chime in with your thoughts
Thanks
My wife and I have checked out a house online sent to us by our agent. Before we register any interest in the house and actually schedule a viewing, I'm a little concerned because our agent happens to also be the agent of the sellers. I had a few questions with regards to this situation
1-Isn't there conflict of interest for the agent? What does code of conduct say in this situation?
2-Does the agent still make 5% commission? If we buy the house the agent would be making double what he would normally make. Is there room to negotiate that with the agent such that it is a win-win situation for both him and us (Perhaps a 3% commission)?
3-What other advantages/disadvantages do you see with such an arrangement that we should be aware of? Anyone who's been in a similar situation, please chime in with your thoughts
Thanks