To Work with a Buyer’s Agent or a Listing Agent, that is the Question
Or, they think they’ll be able to negotiate a better price by going directly to the Listing Agent.
What’s in a Name? An agent by any name would get me a good deal.
Some buyers believe the listing agent will give them a better deal. After all, they’re saving that agent from splitting a commission. Hence, a listing agent shouldn’t mind negotiating a better deal for them, or giving up part of his or her commission.
The buyer doth presume too much, methinks.
Or, the buyer sees a listing with an agent’s name, and imagines all the work that has gone into this deal. So, it’s only right that they should give the listing agent their business, too. It just wouldn’t be fair to have another agent show them the property. Hence, the buyer presumes that the listing agent will be upset by bringing a buyer’s agent into the picture.
To Thine Own Client Be True.
However, in both scenarios, a major factor is missing. Who has the Buyer’s back? The Listing Agent represents the Seller. Therefore, the Seller’s best interests come first. The Agent will want to get his client the best possible purchase price, which in turn will mean a larger commission. The Listing Agent has advised the Seller on how to market and sell their home, prepare it for showing, price it realistically, handle offers and negotiate the best deal for his client.
This is where the Buyer’s Agent comes in. She wants to get her client a new home for the best possible price. Additionally, she has the knowledge and expertise to advise on neighborhoods, schools, property valuation and more. The Buyer’s Agent will arrange showings for each property her client is interested in, advise on obtaining pre-approval and financing from a lender, and handle problems that might arise during home inspection, etc. She will negotiate the best deal for her client, and handle the legalities and paperwork of closing. Furthermore, the Buyer’s Agent may continue to help her client even after closing. Recommendations of local businesses and services can be an immense help when a client is new to a neighborhood.
The better part of the client/agent relationship is discretion.
Whether a Buyer’s Agent or Listing Agent, there are certain characteristics each should have. Confidentiality, loyalty, accountability, disclosure, adherence to laws… These are just a few of the traits a good agent possesses.
To work with a Buyer’s Agent or Listing Agent, that is the question. And the answer is, find the real estate agent with the knowledge, experience and expertise to best represent you in either buying or selling your home.
Want to learn more about buying a home, Download our free 22-page Home Buying Guide.
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