So, any words to the wise in dealing with a realtor marketing a REO property?
Does the bank pay the commission or does the buyer? If so, is it normally stated in the contract? I have agreed to pay my agent 3% – since I did all the leg work. But am I obligated to pay the listing agent’s comission too?
If the listing realtor doesnt present an offer at all and/or in the best light - is there recourse for an investor?
The general rule is that the seller pays all of the commission. I can’t see why you should have to pay your agent anything - the seller pays your agent.
You really have little recourse against the listing agent if he/she doesn’t present your offer in the best light. The listing agent has a higher duty to their principal (the bank) than to you.
Are there two agents involved here or just one? If there is just one this is a case of dual agency and I would suggest you getting someone to represent you.