Most people, when they see a home for sale, call the number on the sign hanging off the house. In that case they are calling the sellers’ agent. In and of itself, this may not a problem, at least not for the agent. But it can be a disadvantage to the buyers; here’s why: Sellers’ agents first and foremost represent sellers. This means that they are contractually obligated to do what is best for the sellers, i.e. garner the maximum price, ensure that sellers’ interests are addressed, and make transactional decisions based on the sellers’ needs.
But in this scenario, there is no one looking out specifically for the buyers.
This is not to convey the notion that one agent cannot represent both sides, in fact, this often happens. If an agent holds the listing to a home, and brings a buyer to said home, he earns the entire commission, which is a lucrative proposition. And when the sale is straightforward, the home is sound, and both sides are agreeable and pleased with the deal, this works for everyone.
But many real estate transactions are not so seamless.
For this reason, I strongly advocate the use of a buyers’ agent, who is contractually obliged to advocate for the buyers’ side. Buyers’ agents negotiate the best price for the buyers. They ensure that the interests of the buyers are represented, and in general, provides a cleaner, clear cut setup for the transaction.
I’m different that many agents – I am going to make sure you understand the agency relationship involved in the transaction. You can count on me to be honest and to keep your best interests in mind thruout our relationship.
Isn’t that what you want from a someone on your team?
Jon
