When house hunting, a buyer should be careful not to speak too openly in the company of the vendor's agent or another buyer's agent. All Realtors have a fiduciary duty to disclose to their client whatever they know if it may influence the result of the negotiating process. When a vendor's agent hears you express strong interest in the home or that you are moving from a city where houses are twice as expensive, that information will be given to the vendor and may be used against you during negotiations. 
The same is also true with the Realtor who represents you. If the vendor or the vendor's agent discloses information to your agent, s/he has a fiduciary duty to share that with you if it will influence the negotiations. As a buyer you should know that your sensitive information should be held in confidence by your agent so that it cannot be used to disadvantage you.
This comment from Frank and Sue Gerryts illustrates the point. They recently posted to their blog "Making most of the buyer's market".
"We always warn our buyers that they should be careful what they say when viewing homes. That is because the listing REALTOR® is going to use whatever information they can to help their client. So telling them that you are new in the country, love the house and find it so affordable compared to your home country is not going to help you get a bargain!"
It goes without saying that Realtors have a high duty to treat confidential information in a trustworth manner. Whatever your story or interest in a property, it should be held in confidence by your Realtor. The information your Realtor has about the vendor should be passed along to you if it helps you make a better deal. Your Realtor represents you.
Often I am given information by agents that I can use to the advantage of my own clients. Recently, an agent came into my office and told me that he had just listed a home for $ X but it was overpriced and the vendor would probably take $ X - $30,000.
"Thank you very much my friend. This unsolicited information may not help your vendor get best value but I am happy to know something that may help my buyers."
When shopping for a home, it is wise to keep your comments neutral when others agents, vendors, or buyers are around. Give yourself every advantage to make the best deal possible.
R. Greg Osmond is a Platinum Award winning Realtor serving St. John's and surrounding areas, Newfoundland and Labrador for over 20 years and can be reached at 709-895-2500. Visit http://www.rgregosmond.com/ for further information. Find him on facebook and be a friend.
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