March 29, 2018

Seeing Houses with a Buyer’s Agent vs. a Listing Agent

I’ve noticed a recent trend in which some buyers think that seeing a house and buying a house through the Listing Agent, rather than a Buyer’s Agent, is in their best interest. My post today will be all about why that’s not the case.

Here are the many reasons why you should not follow this trend:

A Buyer’s Agent’s sole job is to represent you (and not the seller too).
A Buyer’s Agent will choose appropriate houses for you to see based solely on your needs and must-have list. They will make the appointments, show you the properties in a logical order, and will follow up with the listing agents (rather than prioritize a house in their best interest).
A Buyer’s Agent’s job is not to hard-sell you on a property, but to give you the accurate pros and cons of the house.
A Buyer’s Agent can be honest with you about the condition of the house and is not restricted in telling you anything because he/she also represents the seller.
A Buyer’s Agent will inform you of details about the neighborhood or town you’re looking in that you may not be aware of.
A Buyer’s Agent will negotiate the offer and the contract or lease in your best interests.
A Buyer’s Agent will properly guide you through the building inspection and the final walk-through.
Some buyers feel that if they see a house with the Listing Agent, they will get a better deal in the end because they think they can get the agent to either reduce their commission, or that they will work harder because they will make a 2-sided commission. This is not the case.

It’s important to know that:

The commission is set when the listing contract is signed by the seller and the Listing Agent.
The seller pays the commission – not the buyer.
A Listing Agent who also represents the buyer is considered a Dual Agent and they must legally disclose their split allegiance and both the buyer and the seller must acknowledge this in writing.
A Listing Agent may not advise you properly on what you, as the buyer, are entitled to via a credit or repair because he/she may not want to tank the deal.
A Listing Agent can only repeat to you what the Seller has given permission to repeat.
A Listing Agent may not legally be allowed to share pertinent facts with you if the seller does not allow it.

There are exceptions and sometimes you will get an exceptional agent who can handle both sides.

With what will likely be the most important and largest investment in your life, don’t you want someone who is solely on your side and is looking out for you in every aspect of your purchase?

Check out more posts like this at RachelWalshHomes.com.