Our listing agent brought in a buyer

and we accepted their offer yesterday. We somewhat trust our agent but i want to make sure we dont get screw over just to close the deal. Anyone have experiences with this? What should we be looking out for as sellers?

This is for a coop if that make any difference

Re: Our listing agent brought in a buyer

It shouldn't be to your detriment at all that your listing agent brought in the buyer. Your listing agent represents your interests as the seller, not the buyers' (even though the buyer don't have their own agent). A listing agent can't act as a buyer's agent on his or her own listing, because that would mean she has two clients on the same deal. It just can't be done. So while she can work with the buyer as a customer, the buyer is not her client, you are. She is your agent only. So all of her duties as an agent -- duties of confidentiality, loyalty, etc. -- are to YOU.

I actually think it can be to your benefit that your listing agent brought in the buyer. That means she is dealing with the buyer directly and presumably did her own due diligence (on things like their financial qualifications -- which are especially important for co-ops, since there is a board approval process -- and mortgage preapproval). She can deal directly with the buyers, rather than get information through another agent (who may or may not be competent and cooperative). So your agent should be able to stay on top of things better with the buyers attorney, mortgage process, etc. I actually think the buyers of your co-op are in a more vulnerable position having chosen to utilize your listing agent versus getting their own buyer's agent.

I don't really see much opportunity for your listing agent to screw you over, even if she wanted to ignore her ethical obligations to you. You agreed on the price already, so presumably you got what you were looking for there. Usually, but not always, buyers will waive a home inspection on a co-op. Then, you go to contract, and the contractual issues are pretty much in your attorney's hands, not your agent's. And obviously, the buyer will need to apply for a mortgage AND for board approval, but that is not really in your agent's control, either, other than to facilitate things as necessary.

Is there something specific that you had concerns about?

Re: Our listing agent brought in a buyer

When we sold it was ultimately our own agent that brought the seller. I felt she represented us through the process.

Re: Our listing agent brought in a buyer

Our agent brought in a buyer and when they couldn't come up anymore, she lowered her commission 1% to make up the difference (since her company would be getting two commissions)