# Do we have an agent conflict?



## gmx (Apr 1, 2013)

We are selling our condo and our agent owns a similar condo one floor below us. They have recently decided to sell their condo(using themselves as the agent for both sales). Is this not a conflict of interest? They say its not a problem, but I see it as not being a problem for her and a problem for us. Am I correct in assuming this?


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## Just a Guy (Mar 27, 2012)

Technically, since they informed you, they could make a case they are impartial...they could show both, present you an offer, etc.

Realistically there is going to be a conflict. I don't like realtors at the best of times, as many put their interests first...but this one has too much going towards your realtor's benefit...


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## sags (May 15, 2010)

If buyers like a particular building........they likely would want to see every condo for sale in it.........for comparison.

It wouldn't be a big issue for me, as both condo apartments would likely still be for sale.........even with different realtors.


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## gardner (Feb 13, 2014)

Yes, but you'd want your realtor to be promoting YOUR unit, not his/her own. I believe there is sufficient conflict that you could get out of the seller-realtor contract.


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## Homerhomer (Oct 18, 2010)

gardner said:


> Yes, but you'd want your realtor to be promoting YOUR unit, not his/her own. I believe there is sufficient conflict that you could get out of the seller-realtor contract.


no way op can get out of the contract because of that, It sucks for OP because there is more competition and you can bet the agent will put more effort into selling her own unit.
The term conflict of interest doesn't apply to this industry ;-) if the agents can represent both buyers and sellers for the same transaction (and if this isn't a conflict of interest than I don't know what is) then they sure can represent multiple units in the same buildings regardless if they own it or not.


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## Just a Guy (Mar 27, 2012)

They can't represent both the buyer and the seller unless both parties sign a waiver stating that they are aware of the conflict of interest which may arise. If the original poster did not sign a document agreeing to the potential conflict then they would be able to get out of the agreement.


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## OptsyEagle (Nov 29, 2009)

This is a huge conflict. Get a new agent. Problem is now solved.


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## gmx (Apr 1, 2013)

Thanks for the feedback! It was pretty much what I was thinking and we have terminated our contract. Now we have to start searching for another agent. So far not a big fan of real estate..


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## Just a Guy (Mar 27, 2012)

I'm a big fan of real estate...it's the agents, lawyers and banks that drive me nuts.


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## ChrisR (Jul 13, 2009)

Sorry to seem naive, but what does the listing agent actually do to sell the property, other than list the property on the MLS?

If I'm a prospective buyer, my agent shows me the properties, and if I like one, I bid on it. I'll never meet or interact with the selling agent (unless I attend an open house, but even then, I will likely hire my own agent and have them show me comparable units in the neighborhood). Does the selling agent have any influence over which property I bid on?


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## ChrisR (Jul 13, 2009)

I will add that when I have looked at condos, I have never seen two "comparable" condos in the same building that were actually "similar". The 2 condos might have the same square footage but:

One condo has light floors and dark cabinets, while the other condo has dark floors and light cabinets.

Or, one condo has stainless steel appliances, while the other has all black appliances.

Or, one condo has granite counters with an over-mount sink, while the other has laminate counters with an under-mount sink.

Aren't these little details going to influence the buyers more than a seller's agent ever could?


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## Just a Guy (Mar 27, 2012)

The agent knows what your bottom price is, he knows what his price is...he could undercut you, or give you advice to not drop your price to keep his value higher...and sell his instead.

Think about all the ways you can manipulate the scenario...this was only one way.


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## Addy (Mar 12, 2010)

Just a Guy said:


> The agent knows what your bottom price is, he knows what his price is...he could undercut you, or give you advice to not drop your price to keep his value higher...and sell his instead.
> 
> Think about all the ways you can manipulate the scenario...this was only one way.


Agreed, I would say there's a seemingly endless list of ways the agent (or any agent) could manipulate this sale or any sale.

Interestingly enough, once you know what agents want (a quick sale with as little effort as possible, and who can blame them?) you can use that to get what YOU want as well. I have done this on our last three income property purchases and it has served me extremely well. The last one I did feel a bit sad for the seller, I know of him and he's a good guy, but I needed the property at a certain price point and wasn't going to budge. I got it for less than I expected.


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