Kelly Goodrich

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Risks of using the Seller's Agent

Posted On: March 29th, 2023 6:42PM

Can the Seller's Agent Serve 2 Masters.  

 

When buying a home, using the seller's agent may pose some risks for the buyer. Here are some of the potential risks:

  1. Conflict of Interest: The seller's agent has a legal obligation to represent the best interests of the seller. This means that their loyalty lies with the seller, and they may not be as focused on the buyer's needs and interests.

  2. Information Bias: The seller's agent may have more information about the property than they are willing or legally allowed to disclose to the buyer. For example, they may have information about any defects or issues with the property that they are not required to disclose.

  3. Limited Representation: When using the seller's agent, the buyer is not represented by an agent who is solely focused on their best interests. Instead, the agent is working for both the seller and the buyer, which can limit the level of representation and advocacy that the buyer receives.

  4. Negotiation Disadvantage: The seller's agent is trained and experienced in negotiating on behalf of the seller, which can put the buyer at a disadvantage during the negotiation process.

  5. Emotional Attachment: The seller's agent may have an emotional attachment to the property, which can cloud their judgment and make it difficult for them to be impartial and objective.

For these reasons, it is often recommended that buyers work with their own buyer's agent to ensure that their best interests are being represented throughout the home buying process.

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