I talked to a real estate agent today. She mentioned to me that she flips houses. She said she considered buying the house I was interested in, but she didn't because the foundation was bad. She was also the listing agent. I feel like there is a conflict of interest. When you list with an agent, your expectation is that they are trying to get you as much as possible for it. However, if you are a real estate agent, and you want to buy the house yourself, you actually want to sell the house for the least amount of money so that you can make the most profit.
What do you think about real estate agent flipping houses?
byu/Agitated_Quail_1430 inRealEstate
Posted by Agitated_Quail_1430
5 Comments
I mean the seller doesn’t have to agree with his or her agent. I don’t think this that big of an issue. It’s not like they’re forcing you to make this transaction and if they aren’t doing their job, fire em.
She was going to buy the house but when she realized because of the foundation repair that she would not be able to make a profit flipping she instead is now the list agent selling it.
No issue at all, and they disclosed the problems as well so its all good.
Flipping a house is not a bad thing. Not everyone knows how to remodel homes.
Don’t sign that agent to represent you. Look for a different agent.
I’d appreciate that she was upfront about the foundation. Be SURE to get your own inspections – don’t rely on her for anything. No reason you can’t pursue the property though, as long as you’re willing to deal with the known defects.
To a flipper, big changes are hard because they can’t always be fixed quickly and cheaply. This probably made the property a no-go for her but if it’s fixable and the price is right, it might work for you.
In NJ this would be an ethics violation in all likelihood