As a Realtor I make a lot of cold calls from numerous lead sources and nothing shocks me more than the amount of people who use the listing agent to write their sales agreement. This always shocks me, because the buyer is giving up numerous resources and loyalties to a broker simply because they have obtained a listing. There are numerous reasons why a buyer should pursue representation on their own by using a buyer’s agent. Here are a few:
- Listing Agents’ loyalties are with their seller – When you purchase a home and use the listing agent as your representative it is important to remember that a listing agent’s loyalties are with the seller and not necessarily with you the buyer. A listing agent has a contract with the seller and will be looking out for the seller. Their intention is to get the seller the best price, the cleanest contract and the easiest closing for their home.
- Buyer’s Agents are FREE – Buyer’s agent are usually paid through the listing contract, meaning that the use of a buyer’s agent is typically FREE to a buyer. This means a buyer will have someone in their corner to negotiate and work out the best possible deal for the buyer. Why leave a free and unutilized resource on the table?
- Listing Agents’ pocket the difference – Many times buyers think if they use a listing agent that they can lower the price and since the listing agent is getting paid on both ends that they will make up the difference for the seller. This is not always the case, sometimes a listing agent will reduce their fee but not completely, meaning the seller will save a little money but the listing agent will still pocket more money than if you had used a buyer’s agent.
Overall, why short change yourself? By using a Buyer’s Agent you get FREE representation with a person who has YOUR best interests in mind.