Early $655,000 offer and one agent for both sides—what should I clarify?

[AwakeMoss]

A small update has created a bigger question: we have received an early offer of about $655,000 for our New York property, and the listing agent now proposes acting for the buyer as well. Speed is attractive, but shared representation could affect what advice we receive and how our negotiating information is handled.

Before consenting, I want the conflict arrangements, fees and limits on confidentiality set out clearly. I also need evidence that the buyer is qualified, an explanation of how later offers will be presented, and a plan for support if this deal falls through. Which safeguards would you require in writing before allowing the same agent to remain involved on both sides?

 

[esme.snow]

There is no single US-wide answer, so start with the current New York requirements and the exact disclosure they want signed. I would ask the agent to state in writing what they can no longer advise either party about, who the named contact is for each side, and how confidential information is separated. Consent alone does not make the interests independent.

 

[gate.strong]

Was the property fully marketed, including the planned photography, before this offer arrived? If not, speed may come at the cost of learning what other buyers would pay. Also ask for evidence that the buyer can proceed and what happens if financing or another contingency causes the deal to fall through.

I would not reject the offer solely because of dual representation, but I would not let urgency decide it either.

 

[compareTheRidge]

I’m more cautious than Bianca. If you want independent negotiation, the cleanest practical step is to ask whether the buyer can obtain separate representation while keeping the $655,000 offer alive. Also request a written breakdown of fees, response times, offer-handling procedure and support after a fall-through. Then have your own New York attorney review the proposed arrangement and disclosure before you consent.