Quote:
Originally Posted by Mark1130
If we are to buy a pre-owned home listed through The Villages, does the sales rep have the interests of the seller only or do they have an equal share in the buyer's interest?
Should I consider getting my own representation in the transaction?
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There are seller's agents, buyer's agents, and transaction agents. If you are dealing with the listing broker the agent is probably a seller's agent. You may find if the listing broker is The Villages the agent will not be a buyer's agent.
If it were me I would ask the agent who they represent. I would not hesitate to deal with any of them as long as I knew their status.
A seller's agent's duty is to get the best deal for the seller. You would not want to tell a seller's agent you are offering let's say $200,000 for a property but are willing to go as high as $210,000. That agent is obligated to tell the seller of your willingness to pay more than the offer. On the other hand a buyer's agent should not reveal that type of info to the seller.
Discuss your relationship with the agent so you know where you stand.
The law of agency as it applies to real estate transactions is a little murky. Keep in mind no one can be totally loyal to both sides at the same time.