I get asked this very question all of the time. My answer is simple; the listing agent represents the sellers best interest, ALWAYS. Anything you say can and will be used against you in a negotiation. Many seem to think that if they contact the listing agent they will get inside info and a better deal. Although some may go against their fiduciary duty to the seller because they want to put together a deal, this is not the proper way. We have to relay any information about the opposing party that will benefit or help the client make a sound, informed decision.
Keep in mind, there is no way to properly represent two opposing parties in a transaction and honestly have both parties best interest in mind. Each party deserves their own representation, especially when negotiating and specific issues arise.
Anytime we meet a customer for the first time we, by law, have to discuss the different types of representation. In NY we are all sellers’ agents until we specify otherwise in writing. The NY State disclosure form describes the different types of representation and once both parties decide how that client will be represented they execute the form. Once the form is executed the agent has a fiduciary duty to that customer who is now a client. This form is not a contract; there is a separate contract that can be used if mutually agreed upon.
It is important to know how you are being represented and who is looking out for your best interest. Make sure you have a clear understanding from your agent and don't be afraid to ask questions.
Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
License Associate Broker
William Raveis Legends Realty Group
914.406.9023
