Yesterday, I had a phone call from a buyer interested in discussing whether she should see a property with the listing agent. She had the listing agent contact information from the sign in front of the house for sale.

This buyer/consumer had found my article and called to discuss the topic because the article on buying from the listing agent includes an invitation to call me. She’s the first to do so.

We had a great conversation, particularly when she told me the house is a short sale. If you’ve read my article you can tell that I’m not a proponent of dual agency—one agent representing both sides of the transaction. We talked about an agent’s fiduciary duties that include both confidentiality and full disclosure—always the two “sticky” points. There are many agents who practice dual agency and seem to have no or few problems. The real test, I suppose, is how all the parties feel at the end of the transaction.

As our conversation progressed, it became more of a discussion on short sales and what the consumer should do when thinking about making an offer on a short sale i.e., questions to ask—has the short sale been approved by the lender, information to search out—how long has the property been vacant, is the property vacant, are the utilities turned on, what inspection issues can be expected, the importance of using a real estate attorney with experience doing short sales etc.

The answer to the original question—Should You Buy From The Listing Agent—must always be answered by the parties involved: seller, buyer and the agent. In many states, you must have all parties agree to dual agency before you can proceed.