seller's REagent is showing us the house
So we were interested in seeing a property for sale. We are acquantences of the owners and they seem nice and honest. Anyway, I called them to ask if they had an open listing with their agent and they said no and said to work with their agent to see the house since that is the contract they have with him. So we did and he took us out to see it and we like it and are going back tomorrow to see how the kids like it- their realtor is showing it to us again. If all goes well we plan to make an offer- 1% lower than asking price with the contingency that we sell our current home. So my question is---do we really need a buyer's agent on our end? We figure that we'll hire the same realtor to be our selling agent and therefore he'll make some decent $$$ if he sells our house b/c then he's making the whole kitten caboodle commission on the house we want to buy plus at least his seller's % when we sell ours. Around here that's about 7.5% total. So we think that he'll have a pretty huge incentive to get a deal done and sell our house so that the 2 deals go through and he gets a fat check. If, on the other hand, we go with a buyer's agent to write up an offer on their house then their selling realtor won't make as much on the 2 deals and will have less incentive to get it done. We wboth want to make this happen as quickly as possible in this market. I know this is unconventional and I wonder if it's even illegal for him to show us the property without any written disclosure that he represents them. I mentioned that I know full well that he is representing the sellers 100 % here and not us so maybe that counts asdisclosure.
Is there some major flaw in our thought process? Do we really need a buyer's agent????
Thanks for any insight anyone might be able to provide.