Costa Rica Realtors Representing Whom?

[kimberley]

I would like to know if it is common in C.R.
that brokers represent both buyer and seller,
or please work only for one of the two.
and not have a conflict of interest.
Any advise how to deal with this?
Thanks!

[barbara ann]

for the most part they represent themselves. there are not any laws or licensing requirements that specify loyalty to anyone. I sold real estate for over 20 years in the states and can say buyer beware

[kimberley]

[quote=”barbara ann”][quote=”kimberley”]I would like to know if it is common in C.R.
that brokers represent both buyer and seller,
or please work only for one of the two.
and not have a conflict of interest.
Any advise how to deal with this?
Thanks!
for the most part they represent themselves. there are not any laws or licensing requirements that specify loyalty to anyone. I sold real estate for over 20 years in the states and can say buyer beware

Thanks for fast reply,
what doesn’t stretch on one side, needs to give on the other side…… 🙁
Anybody any ethical broker recommendation in the Alajuela area?
Thanks!

[waggoner41]

Best to have a good attorney working for you to oversee your side of any real estate transaction.

[Andrew]

Who pays the Realtor?

Most of the time the seller is paying the Realtor a commission to sell his home, there really isn’t much else you need to know …

There is nothing wrong with earning a commission to do a good, honest job of selling something but, and this is a big but…

IMHO there aren’t that many Realtors that I trust in this country to do a “good, honest job” (that same old 90:10 rule) which is why I only recommend a handful of them …

Scott

[elindermuller]

Whatever the client wants can be done. In most cases the buyer contacts the listing agent directly (internet) and this agent will then represent both parties. The final paperwork and property transfer has to be done by an attorney, in most cases chosen by the buyer if the sale is in cash (In case of owner financing, the seller will chose the closing attorney). In rare occasions the buyer and seller chose to work with different attorneys and agree to pay separate fees, the attorneys, however, have to work together on the property transfer. If a buyer is represented by another broker, then this broker will be the buyers agent and the commission will be split. It is common that the seller pays the commission, but in reality, the buyer is the one who brings the money and part of it goes to the broker. The final sales price should be the result of the negotiation between buyer and seller, the broker should be the messenger and not push the sale to his own advantage. Because in today´s market, a sale for a lower price is better than no sale at all.

[Author]

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