There is a common misconception that brokers, or agents, represent the buyer and the seller equally. The broker, however, has a financial, legal, and moral obligation to represent the seller, who pays the broker’s fee when the sale is made. Therefore, the broker does not actually represent the sellers and buyers equally.
However, you can hire a buyer-broker, which is a broker assigned to represent your interests exclusively. This saves you time and guarantees that you have an agent working on your behalf. If using a broker this way, expect him or her to research available homes, conduct preliminary investigations of the homes, help you secure financing, follow-up on details such as appraisals and inspections, and represent you in negotiations.
A conflict of interest can arise if the buyer-broker sells you one of his or her own listings. It’s best to discuss this possible conflict with the buyer-broker up front.
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