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NativeWannabe
10-01-2017, 05:01 PM
We found a piece of property for sale that we want to buy. The sellers have an agent. We do not. Should we find one or can the sellers agent act as a dual agent?
Thanks.

randl
10-03-2017, 07:58 AM
We used the seller's agent as our agent, not intentionally, but it was fine. As our agent once said, it's a small island.

bonairehomes
10-06-2017, 09:49 AM
Native -

I certainly have an opinion on this since i am a real estate agent (full disclosure) but i can give you a few good reasons for having your own agent, and/or getting a second opinion.

Here are some questions to ask yourself:
- Keep in mind that first and foremost the sellers agent works for the seller, BUYER BEWARE
- Depending on the seller and his/her broker (some brokers here are very honest, some are.....) so they may or may not tell you about any known issues with the property or house (does the roof leak? Are there underground caves on this lot?) The seller is legally obligated to disclose any know issues with the property to their broker and to the buyers. In practice, this doesn't always happen. However this is a small island so an experienced broker/agent often knows about any existing problems with a property.
- It can be a good idea to get an inspection and/or appraisal - your broker can suggest the most qualified people to do those things
- And most importantly, are you getting the best possible price for the property you want to buy? Are you overpaying for this property? Can you buy a comparable lot or house for less money? I have seen people pay more than $100,000 over the "market" price of the property because they didn't do their homework and/or get a second opinion. THey negotiated for themselves and took for granted that the listing price was close to the true market price of the property.
- And the best part is that normally having your own agent doesn't cost you anything extra. Most real estate brokers on Bonaire split commissions, so your agent actually gets a part of the commission that the seller pays. You can also negotiate a your fee with the broker who represents and pay them directly.

That said, having dual representation (same agent for buyer and seller) is very common on Bonaire. That means it is important that you work with a agent that you feel comfortable with, and who is bound by a code of ethics. You need to feel that you are being treated fairly and honestly. If you are not comfortable with having the sellers agent "represent" you, then don't be afraid to find your own agent. It might cost you a little extra, but it could end up saving you tens of thousands of dollars in the long run.

Knowledge is power, so do your homework before you buy. Plus it never hurts to have a second opinion.

Good luck!

wishing4wind
10-06-2017, 10:11 AM
How can you be contacted if someone is interested in looking at properties?

bonairehomes
10-06-2017, 11:07 AM
My e-mail is bob@bonairehomes.com, or cell phone is 599-786-7362 or office is 599-717-7362.