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Realtors representing both parties

Last activity 17 May 2022 by planner

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vixenmartine
Good morning,  I was referred to a realtor by an American attorney who lives in LT.  I'm based in Sosua.  She took me around to look at places a few days ago.  I noticed that whenever I tried to negotiate prices with the seller she would discourage that.  Then I caught her speaking on the side and making hand signals (lol) to one of the sellers that I was interested in making an offer to for her villa.  I'm guessing she was telling her to not accept a lower offer.

That's when I realized she's working for both of us.  Is that normal here?  We had a conversation in the car about my offer.  She was giving me a play on how things would mostly go and then when the counteroffer came back it was $2k higher.  I feel like she is behind this as in the car she said the seller would most likely counteroffer for an amount that end up being $2k higher than we had discussed.

The whole thing has left me feeling a certain type of way and I want to stick to my counteroffer just on principal (I would hate to lose this property over $2k but I feel the realtor is being greedy and duplicitous).

Can someone refer me to a real estate attorney in Sosua who speaks English because if this deal goes through I will most certainly not be using her agency's attorney as now I have no faith in her.  She has done nothing but go out of her way to make sure I pay the most for this property.
WillieWeb
If you were in another country, the licensed agent always represents the seller unless stated otherwise.

Standard procedure.

In some states in the US, there two types of agencies - buying and selling -- no confusion.



The agent's job is to get the highest price for the seller - she is NOT representing you
vixenmartine

@WillieWeb  yea I realized that when I asked her what is her commission and she responded the seller pays me.  I'm not used to being discouraged from negotiating.  I did not like that experience.  I might as well look at properties by myself at reputable builders around town.  I don't need her.

planner
This is pretty common here.  There are no conflict of interest guidelines!  They tend to represent whoever is in their best interests. Note: this does not apply to all,.there are good realtors!

You are right to trust what you are feeling! Sounds lime she is protecting her interest and not yours. Absolutely use your own attorney on this. 

And if the property is worth the extra 2k then go for it! Don't let that get in your way. Maybe the price of the lesson?
vixenmartine

@planner I'm trying so hard to swallow my pride.  LOL.  I don't want to lose that property.  My family told me to stick to my guns.  We're having a Mexican standoff in the Dominican Republic.  lol

rfmaurone

@planner really good advice ! I agree, If you really like the property do the deal. In my experience when some “stands on principle” I offer this, what is the principle you are standing on?  Often it comes down to a feeling of not being dealt with in good faith and I know that hurts.  If this can be reframed as a business transaction, not a long time partnership then the hurt goes away as I see it. Hope this is helpful to all who read this.

WillieWeb
Easy way to look at it is



For $2,000 - problem disappears and you have a property....

How do they say it---Don't cut off your nose to spite your face
planner
Agreed. Fighting over the 2k principal is EGO.  Learn and move on knowing better for next time or to pass on to others! 

Get other concessions worth the 2k?
ddmcghee
I agree with others on the $2k - I once lost out on a house because my now ex-husband refused to accept a counteroffer that was $300 higher than our offer. If you really want the property, then that small amount shouldn't stand in the way, no matter how frustrating it is!

Also, make sure that your contract is contingent on the due diligence that your attorney (well worth having a separate one) will complete. You must be sure that the title and deslinde are in order.
DominicanadaMike
Do what you feel is right for you.  Get your own lawyer and someone who represents your best interests only.  They are too crafty with burning the candle at both ends and the middle too!  When I bought my first house here, I sidestepped the realtor, made a deal with the owner directly (substantially lower) and then paid the realtor his commission and everyone was happy.  I even stayed in the house for a month to test drive it.  If you have any issues, walk away.  The old saying is:  If it is meant to be it will be and if its not meant to be...

Good luck.
dinosinc
I used Guido Perdomo, he is located in Sosua, and is very professional, all of my Canadian friends have used him.
Tippj

@planner I'm trying so hard to swallow my pride.  LOL.  I don't want to lose that property.  My family told me to stick to my guns.  We're having a Mexican standoff in the Dominican Republic.  lol

- @vixenmartine
               Stick to your price and explain to the agent that you found another property that your going to put a bid on …and she won’t get a commission on …….and if she wants to make a commission she should explain to the seller  of the first unit  to  sell. , that it may be another 2-3 months before they get another real perspective buyer….and you may walk,
if they don’t budge let the situation cool for 2-3 weeks , lm sure “ your “ agent will b in touch…….

By the way   , real estate agents do not always represent the seller’s in the U.S.
  The seller’s hires an agent and she lists it MLS and the other agents see it and bring prospective
clients to view the property , the negotiations are between your agent and theirs .
Your agent has to inform you of all offers that are being entertain and it’s up to you to accept or decline  , if you wish to you could personally enter into the negotiating…….but you should always feel comfortable with a deal otherwise you will experience buys regret later on thinking you got hoodwink

Good luck and stay focus
planner
Let's stay focused on here please
It matters how it works here. No exclusivity.  Little splitting of commissions.  No conflict of interest.  Little over site. Many unqualified and untrained people offer their help!  No MLS.
sberger50
I just checked my Real Estate agents website, and was surprised to find that my condo that I bought almost a year ago is still listed.  Pictures and all.  Even video.  The real estate sales in DR is just a free-for-all between the agents.  All agents represent everything, and most agents are interested in getting a higher price and increase their commission.  Don't think you have an agent that is only representing your best interest.  Again, just not in the culture.  Good management for rental units is so hard to find.  Need a job? 
DominicanadaMike
sberger50:  Yes, I have mine still listed on some websites from 7 years ago!  Maybe some day someone will bring me an offer I can't refuse...lol
vixenmartine
Update:  I put in an updated offer as per the realtor's advice.  It has been 48 hours and still no answer.  Like I said SHADY.  I don't have to deal with shadiness no matter where in the world I'm at coz I know I would not put up with that at home. 

I will be pulling my offer in the next few days.  I can play cute too you know
DRVisitor
No need to pull your offer many offers do not go thru any ways regardless of agreement.
vixenmartine

@DRVisitor that's very interesting..

planner
That is very true.   Offers can be accepted then something gets in the way!  Its not over until its over!

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