Any Ethical Questions with seller being our real estate agent?
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Any Ethical Questions with seller being our real estate agent?
We are interested in buying a new house where the seller is the listing agent.
We are working with them directly to help sweeten our offer so they dont have
to pay for a buyers agent commission.
Our offer is contingent on us selling our current house.
Is there any legal or ethical wrongdoing if we try to sweeten our offer even
more by asking them to also be our sellers agent, so they could earn the
commission from selling our current house?
They would be motivated to sell our house quicker in order to help us close on
their own house.
Thanks
Asked on January 18, 2019 under Real Estate Law, Michigan
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Yes, it would be a conflict of interest. As your agent, they have to look out for your interests--e.g. get you the best deal. But as the seller, their interest is to get the best deal for themselves. They cannot look out for you and themselves simultanously, so there is an ethical conflict that would prevent this.
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