bostonbubble.com

[DC2MA]

I'm new to this forum so forgive me if this has been discussed before. Does it seem to anyone else that part (granted a small part, likely) of the national real estate bubble might be attributable to the fact that most real estate buyers who are supposedly representing the buyer have an enormous conflict of interest because their compensation is paid by the seller and is directly proportional to the price paid by the buyer? This has bothered me for a long time. When we last bought and sold (down here in DC at the top of the market, unfortunately), it because very clear from things our agent said that her view was that the agents' job (on both sides of both transactions) was not so much to protect their principal's interests as it was to make the deal go through and to keep either party from walking away. The buyer's agent has little incentive to negotiate a better price for the buyer, and no incentive to tell the buyer about nonobvious concerns about the house, neighborhood or market. Now that we're contemplating buying a house in Massachusetts, where we do not know a soul, do not understand the neighborhoods, the market, the demographic trends, the schools, the traffice patterns and how they affect commute, etc, the need for an agent who is truly on our side is urgent, and I have no idea how we could find such a person. Just curious what other folks think about this.

[bostonpads]

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