I don’t understand when he stated that once we are an agent, it isn’t advisable to represent yourself in buying a for sale by owner property? As a real estate agent I want to buy properties for flips with my husband. Am I not able to buy homes? I should have an agent represent me, is this what section 3a. of guidelines for real estate agents acting as a fiduciary means?
Legally, you may absolutely represent yourself in buying or selling homes. There is no legal issue whatsoever. And most agents do so.
What I was saying during the course is that from a legal perspective, it’s not always the smartest thing to do. When we represent ourselves, our own emotions and confirmation biases can cloud our judgment in the transaction. Additionally, there are more legal pitfalls to maneuver around. As the saying in the legal profession goes: “The lawyer who represents himself has a fool for a client,” in other professional occupations, such as real estate, some agents feel the same way. But it’s totally up to you.