Why buying from the listing agent is not a good idea
Why buying from the Listing Agent is not a good idea
If you are a Buyer, is it better to buy from the Listing Agent (L/A), rather than using your own realtor? Sure the thought has crossed our minds, the agent will be happy to double-end at a reduced fee, the seller will net the same amount, sounds great, doesn't it? Except when you break down the transaction, you quickly realize that it's not as simple as it seems.
From the Buyer’s point of view, please remember that the L/A has a signed contract with the seller to be paid an agreed upon amount. Also in that contract is a clause that the seller will pay a reduced amount, if the L/A also represents the buyer. So you see, it’s the Seller’s financial position that will be improved by the L/A also representing the buyer, not the Buyer’s financial position. And do you think the Seller will want to hand over that extra money to the Buyer by agreeing to take a lower price?
From the Seller’s point of view, you are hiring a realtor to represent you, and are paying an agreed upon amount on the sale of the home. Are you ok, with your agent also representing the buyer in the same transaction? How can the realtor represent both Buyer and Seller equally, when you the Seller, are the one paying the realtor?
To learn more about multiple representation, or how I can save you money as your realtor, just call now!!
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Image: Ambro / FreeDigitalPhotos.net
Posted by Szabolcs Pall
on July 6, 2011