Sounds like a fun buyer.  Hopefully it works out in the end.

Todd - This has disaster written all over it.  While it is certainly possible to buy or sell a home on your own, very few people take the time to learn how to do it well.  Most agents provide a valuable service!  The fact that the agent selling the listing is not abiding by the law and is being shady initially is disgusting.  Additionally, as you are well aware, they are setting themselves up for a lawsuit.

Agent should disclose.  It is the law in Virginia.  Not having a buyers agent is always asking for trouble!

Many people have disdain for agents and they can "do it themselves".   I don't doubt some can do it themselves, if they know what due diligence, CIC resale packet, SRPD, contingencies, etc are!

The last one I refused to do a dual agency with on a listing of mine I made him sign everything.   He had to sign that he refused representation.  I tried to get him appointments for inspections and a walk through, no thanks, he didn't need those!  Got that in writing too.

Oh yea, there were tears after closing when a couple of things were wrong with the property that didn't have an SRPD because my client hadn't lived there for years.

I had to remind him, sorry, I went out of my way and pushed for you to get those inspections & walk through done but you didn't think they were necessary.

I wanted to add to that last sentence:  because you know everything about real estate transactions and us Realtors "don't earn our money."

Direct quotes!

Hi Todd:

Here too in Florida it is mandatory to disclose that the seller is an owner/agent. The reasons should be obvious; an agent should have more knowledge than the buyer/seller, etc. We have so little control over what people say and do. Sometimes the buyer is his own worst enemy.

Todd- In New York an agent has to disclose interest in a sale- This is an ethics issue. It never ceases to amaze me that agents will do whatever they please with total disregard for the code of ethics- although this agent maybe a licensee but not a Realtor- So maybe he does not have to live by a code- This is why we need to tell people that they need to work with a REALTOR. Good luck with this potential client!

Todd that's scary and he may come crying to you later. Poor guy it's sad that some people just don't realize how much money that 2.5% could save them in the long run. By the way is that 2.5% before or after the negotiated price?

People hear bargain and their senses seem to fly right out the window.  Hopefully he'll come back to you and let you help him make an informed decision.

Todd - great post, especially the last paragraph! Well, you've done all you can to warn this buyer. I hope they heed your warning before it's too late.

Chuck - I hope it does for them also, I'm actually more worried about the agent losing their license over the slightest disagreement.

Erik - I think not mentioning that and trying to pass it off to the buyer as a FSBO is very foolish!

Pat - It is the law here also, but you can disclose it on any form. I think it is foolish to even get this far without mentioning it.

Renee - WOW! That is so sad, but hopefully next time he will realize that we earn our money and know what we are talking about!

Mott - I couldn't agree more that a buyer can be their own worst enemy.

Barbara - I think this person will reveal they are an agent to this buyer long after the buyer has told them everything about themselves and give away all negotiating power. (SO SAD)

Mandi - I'm guessing long before, so he really isn't saving anything, I could have gotten him 2% less in price by showing the comps and then had that agent paying his closing costs of 3%.