Expert: Dick Dennis - 10/21/2006

Question
I just listed inherited property in Idaho (I live in California) and salesperson did not mention if I would agree to a limited dual agency role with seller and buyer at that time.  She said property on area moved slowly and wanted 6 months but I insisted on 3.  we kept price down based on her 'comps'and her rather negative opinion of market...we had found a willing buyer on our own and she agreed to accept 3% if that went through, but within a couple of  hours she had a better offer (also dual agency)at 6%...Am I right to be suspicious as to this salesperson's "loyalties", i.e. she knew about this potential buyer long before I flew up there? Two people want the same house in a poor market...hmmmmm....  JR

Answer
UJsually, Jerri, there is a document offered to you upon signing any purchase agreement that informs you that the agent is representing the buyer, too. If you sign it, then the agent can proceed to represent both parties. If you don't then the agent's broker must find an agent to represent your interests . . . and not within his office.

Or, you may go to a local REAL ESTATE attorney and have him represent your interests if you are still not satisfied. The fact that two people in a poor market wanting your property tells me that the price was too low to start off. I don't know who suggested the price, but like you indicated, something is fishy.

I do wish you well.

Dick Dennis              dixiedee13@aol.com