Warning Signs?!! Buyer being "aware"

**routerx** · 02-26-2008, 09:50 AM

We're moving to Durham in 6 months so we contacted an Agent who was suggested to us. One conversation over the phone about who we are, what we are generally looking for. That's it so far.

Today I received a contract in the mail (to my surprise). Exclusive right to Represent Buyer until 9/1 with a checked box that allows firm to act as Dual Agent, with also a compensation of 2.5% of purchase prise if seller or listing agent doesn't offer payment up to that amount.

Whoa. I see conflict of interest here...

Contract with me until 9/1 without really knowing me?!!
Dual Agency - Agent? Will she be fighting for me?
2.5% of purchase price?!! What is her incentive to get me the lowest price?!!!!

Is it just me or is this very out of line. Not only didn't she give me a heads up about the contract but the contract seems insulting, especially her desire to get 2.5% of purchase price!

My gut tells me to find another agent. Am I out of line?

**codetalker** · 04-16-2008, 11:43 AM

I am also looking actively these days to buy a home. I found out that a buyer's agent usually requires you to sign a buyer's agreement and the 2.5-3% fee is the usual. Basically, they make you sign the agreement so that they are not left in the lurch if you suddenly decide to use some other agent to buy a property which they showed you. remember, a buyer's agent works for YOU not the seller. So they must think of your comfort and need. A good buyer agent will always look for your interests and not vice versa. I signed a buyer agreement recently and quite happy with my agent.