Tips from a first time home owner 1 year in

It's in your best interest to not have the same agent as the seller.

No, it's not.

I understand the reasoning, though. If you use the same agent, then there's often a discount to the commission. Saving money = good.

The challenge is that the agent will have an unsolvable conflict: one person wants the highest price and the other wants the lowest price. If you us the Seller's agent, you usually settle near the list price.

If you use your own agent, you may end up at or near the same final price. However, you have the opportunity to ask for a lower amount and to drive negotiations in your favor. It also enhances your ability to ask for reductions in the price after your inspection if flaws are found.

I'm a lawyer. I've seen situations where dual agency works out just fine but I've also seen situations where the favored client got a deal to the detriment of the other. The slight savings in commission isn't worth the risk of getting a bum deal because you didn't have an expert looking out for your interests.

This is doubly true for your first home purchase - you don't yet know what to look for or how to ask for what you need.

/r/personalfinance Thread