Working as a short sale agent for an investor... conflict of interest or not?
The Arizona market is hot right now and it seems to be the norm here for "short sale listing agents" to work for a single Investor/investment company that buys the properties... the properties are listed and placed under contract simultaneously, and often at an aggressive price. I would like to here your opinions on the matter. Pro &/or Cons? Conflict of interest or not? Etc...
Replies to This Discussion
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Permalink Reply by Simon Campbell on
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Sounds like a dual agency. You are working as the listing and the selling agent on the same property. First, you need to disclose to both parties that you are acting as a dual agent. Your MLS board should have a form for this.
As to conflict of interest, well that can be a touchy one. You want the highest price for your seller and you want the lowest price for your buyer. You need to be able to meet yourself in the middle. If you can balance the interest of both and not favor one client over the other, then you may be able to work both sides. But, if you slip and one of your clients decides to make an issue over this, it could drastically affect your professional image.
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Permalink Reply by Kimberley Kelly on
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It does go on all the time here in the Palm Springs Valley of California as well. It does not seem that the listing agent is truly trying to bring the highest and best offer for their seller since we know investors want to steal properties for the lowest prices. I won't do it.
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