scheme operability

Phanata said:

Hi to all,

Can anybody advise if this scheme of bargaining is operative?

for example I'm buying a property through the agent.
I offer him to cut down the sellers price and promise to pay 20% from the saved amount.
For ex the discount will make 30000 USD.
Even if his commission is 10% he'll loose 3000USD but I"ll compensate 6000USD.

Will he agree to that?

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In USA this agent will be sued by seller.

In corrupted Dominican Republic it will work PERFECTLY.

If the buyer finds out that his representative did this are you not also a party to the fraud?

I do not see the need for you to get in to any side deals like this. The agent is going to make a commission. Make sure you have a written offer and counter offer from the seller, so you are clear that he has seen your T&C's. In your ex. the agent stands to gain considerable $$$$ and will not pass this up.

Legally, you can do it here. IMHO, the only conflict would be if the agent has a legal contract with the seller stipulating something to the contrary (i.e. "agent will work to get the best price for seller" or "agent shall not accept payment from buyer" etc).

Morally, if it is a seller's agent, it's wrong for them to do it.
However, if it is a buyer's agent, there is nothing wrong with this.

On the question of "will it work?": that really depends on the agent and what kind of person they are.

drtampa said:

If the buyer finds out that his representative did this are you not also a party to the fraud?

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Not if a "sellers agent" contract in in place between the buyer and the agent, and the agent does not represent the seller. True, if the agent represents the seller.

AK74 said:

In USA this agent will be sued by seller.

In corrupted Dominican Republic it will work PERFECTLY.

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I agree and I seem to have seen exactly that being done or at least offered to me (as a prospect buyer) by some agents.

However, I think that it may not even be necessary as many agents are not really selling much anyway and so will rather be inclined to work with the buyer in order to make a commission for once.

"Fiduciary duty" or "conflict of interest" are not concepts nor even terms widely accepted around here even by some lawyers... so, agents, many of which have virtually no education as such... :tired:

... J-D.