San Ramon Valley:Why Do I Need A Real Estate Agent – Can’t I Just Use the Listing Agent
Let’s answer the second questions first – Can’t I Just Use the Listing Agent to Handle My Transaction?
Yes and No. In some instances the listing agent will work with both the buyer and seller on a transaction. It is not that you can’t let the listing agent handle your side of the transaction, it is sometimes less complicated if you have ay our own agent. Many people get confused about who is representing who. The listing agent represents the seller – that is who they have a signed contract with. Their fiduciary responsibility is to the seller and their goal is to get the most money they can for their seller in the least amount of time with minimal hassles.
Now having said that have I represented both sides – Yes – it happens sometimes. Is it bad or wrong – no. As long as everyone understands the Agency relationship between all parties.
Why Do I Need a Real Estate Agent
If the listing agent’s job is to get the most money for the seller, how can they represent you, the buyer who wants the best deal and pay the least amount for the home. They can’t. Their original contract is with the Seller. Some buyers believe they will get a better deal or save money if they go directly to the listing agent. Again remember the listing agent’s job is to get the most money for the seller.
Some buyers are of the opinion that perhaps the listing agent will reduce their commission if they work both sides of the transaction. Even if the listing agent is agreeable to reducing their commission, you still have no one representing you. And when anyone agrees to reduce their salary (which is what the commission is) what kind of service do you think you will receive.
As mentioned above, the listing agent’s loyalty is to the seller and anything that is confidential in nature they cannot share with the buyer. When you have an agent representing you, your agent can share any confidential information they learn from either the seller or listing agent.
The Listing Agent Told Us We Could Only Buy The House Through Them
I have had clients relay this to me and it is just not so. If the property is listed on the MLS (multiple listing service), then any licensed real estate agent with an MLS key and access to the data can show the property. Properties are listed on the MLS because agents co-op with each other – why else put it there.
What’s the Solution
The solution – get your own real estate agent and don’t be afraid to sign a contract with them to represent you. The is good for both parties involved. Real estate agents want to know if they are spending their time to research, preview and show you homes that you will be loyal to them when it comes time to make an offer. The agent-buyer’s agreement does not mean if you and your agent aren’t on the same wave length, that you must stay with them. The buyer’s agreement let’s you decide the term of the contract and you can always end it if things aren’t working out.
How Do I Find A Real Estate Agent
In my career I have been fortunate enough to have my clients refer their friends and associates to me. One other way to find a real estate agent is to visit open houses where you will meet agents. This gives you an opportunity to strike up a conversation and determine if there is a fit. People like doing business with someone who they believe has their best interests in the forefront.
Filed under: General RE Tips
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