Buyer Misconceptions Close Window
 
BUYER MISCONCEPTION #2:
You don't need a separate 'buying agent' to represent you, because you can go DIRECTLY to the real estate agent who's advertising the property for the seller--and you can maybe even save some money by doing this.
 


WRONG!

THE TRUTH:
While certainly nothing PREVENTS you from dealing directly with the real estate agent who's representing a sales-offer of a particular property on behalf of a seller, it's NOT really in your best interest to do so.

Why? Because to begin with, many buyers don't REALLY understand the actual difference between a 'listing agent' and a 'buyer agent.'

You see, when you respond to an ad in the newspaper or to a posting on the Internet, you're dealing with the 'listing agent. The listing agent represents the SELLER and the seller's interestsEXCLUSIVELY. Their job is to get top dollar for their client, the seller. Their job ISN'T to get you, the buyer, the best deal. That, on the other hand, is the objective of a 'buyer agent.'

Now then, a seller's listing agent really would actually prefer that there be NO 'buyer agent' involved in the transaction! Because if the listing agent is indeed the SOLE agent involved, they get to keep 100% of the 'sales commission' to which any agent or agents are collectively entitled.

But when a buyer-agent IS involved, the listing agent has to 'share' the commission with them (usually 50% of a standard 6% commission). So of course, the listing agent would hope that they can indeed close the sale for their seller-client WITHOUT any other agent involved! Which means that when you DON'T use your own buying agent, NOT ONLY will the seller's interest be placed over and above your own, but you'll ALSO be dealing with an 'intermediary' who stands to earn twice as much for themselves BECAUSE you had chosen to not have your own representative!

In a manner of speaking, when you therefore do go directly to the listing agent as a 'buyer', it's really akin to asking the same attorney to represent two opposing parties. But with your OWN 'buying agent,' you are ensuring that you DO have someone with experience and expertise in YOUR corner, who can look out for YOU and your interestsand who can negotiate the price and related details of the transaction on YOUR behalf.

In any real estate transaction, from the BUYER's perspective, it's therefore ALWAYS best for there to be TWO agents involved. Because indeed, if you do go DIRECTLY to the listing agent, not only will you be dealing with someone who's out to maximize the commission for themselves and who's not at all concerned with representing YOUR interests, you'll ALSO probably end up paying a HIGHER PRICE in the process! `Purely because YOUR interests aren't being at all considered or represented FROM THE VERY START!