Can an agent represent two buyers?
Can an agent represent two buyers?
If both clients agree that the brokerage or designated agent can continue to represent both of them, the representation of the clients will change. If a brokerage or designated agent represents competing buyers, and all parties agree, the agreement should be in writing.
Can you accept 2 offers on a house?
Within this period, the seller may accept an offer from another buyer in preference to yours. Strictly speaking, you can be gazumped if the seller decides to reject your offer in favour of another buyer’s for any reason – it doesn’t have to be for an offer of more money.
Why do sellers like cash offers?
Still, there are plenty of reasons why cash offers appeal to home sellers. Confidence in the deal going through. With cash, the buyer either has the money or they don’t — if you’ve verified the proof of funds, you know you’ll be able to close.
Can a Realtor represent two buyers for the same property?
Legally and ethically, it is possible for a real estate agent to represent two or more competing buyers on the same property. The real estate agent would have to disclose to all parties that there is a multiple representation situation. If you accept the disclosure, then you can proceed.
Where do all cash offers come from for real estate?
All-cash offers typically come from two types of buyers: individual buyers (who plan to live in the home themselves) purchasing without the help of a bank, and real estate investors, who can also be called iBuyers.
Do you need an agent to buy a house with a cash offer?
Cash buyers may not need a mortgage lender, but they should still find a real estate agent to work with. Agents are invaluable in the nitty-gritty of negotiations, drawing up your purchase agreement, getting an appraisal, and more. And, as always, the seller pays the agents’ fees, so there’s no reason not to take advantage of an agent’s expertise.
Why do listing agents lie about multiple offers?
An agent has ZERO incentive to lie about multiple offers. An agent wants the property sold so they can get a commission. They do not want to scare away potential offers if there are none.
Can a seller have multiple offers on a house?
The first time we had seen the property the owner had been there and showed us the house (The selling agent was too lazy to show the property). I hoped this would be the case the second time around, and it was. My agent and I asked the owner if he had been shown our offer and if he was considering any other offers.
All-cash offers typically come from two types of buyers: individual buyers (who plan to live in the home themselves) purchasing without the help of a bank, and real estate investors, who can also be called iBuyers.
Cash buyers may not need a mortgage lender, but they should still find a real estate agent to work with. Agents are invaluable in the nitty-gritty of negotiations, drawing up your purchase agreement, getting an appraisal, and more. And, as always, the seller pays the agents’ fees, so there’s no reason not to take advantage of an agent’s expertise.
Can a listing agent have two offers at the same time?
Your agent should ask the listing agent if the other offer is from that agent’s buyer because it could make a difference. If the listing agent is representing the buyer of the second offer in dual agency, three things can happen that would put your offer at a disadvantage.
Do you have to pay two agents to sell a house?
The seller may be legally obliged to pay two agents full commission on the sale of their property, which can be exceptionally costly and means the seller walks away from the sale with less.