Expert: Jane Doe Date: 4/20/2008 Subject: Dual agency
Question I've been working with a great agent on my first-ever home purchase. We've been looking in a specific neighborhood and now one of the few homes available (and affordable) is one she is also the selling agent for -- an offer was just withdrawn, bringing the house back on the market. As a side note, my was working with the seller before she began working with me.
I'm seeing this property in the next few days and may be very interested in making an offer. How do I make sure my interests are being best represented? And is it OK to suggest that there should be some break on the price as a result of the dual agency?
Answer Hi Mary: Congrats on jumping into the real estate arena. Many transactions are single party representation and many are dual agency, it is up to the client's comfort zone. If you are not comfortable with dual agency, you may retain the services of your own agent. As far as commissions, they are negotiable. As you mentioned, some dual agency transactions do extend a reduction, that is not uncommon, you've heard right. That's negotiable as well. If as you indicated, you are not represented by an agent, and are looking for one, feel free to contact me for assistance.
--Val West
Nelson Shelton
Beverly Hills
310-271-2282 Ext. 400
